The Cheesecake Factory Inc.
) recently unveiled a Cheesecake Factory restaurant in Jeddah,
Kingdom of Saudi Arabia under a licensing agreement with Alshaya
Trading Co., W.L.L., a provider of commercial equipment for homes
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Located in Le Mall, the restaurant is spread over an area of
approximately 10,700 square feet and has the capacity to
accommodate approximately 305 guests. Featuring the classic
Cheesecake décor of attractive wall paintings and flooring, the
restaurant has a varied menu comprising more than 250 handmade
items including signature cheesecakes and desserts.
This is the company's fourth international restaurant in
licensing agreement with Alshaya. Together, they are already
operating restaurants at The Dubai Mall and the Mall of the
Emirates, both in Dubai, and The Avenues Mall in Kuwait.
Cheesecake and Alshaya Trading Co. W.L.L collaborated for the
very first time in Aug 2012 to open the first Cheesecake
restaurant at The Dubai Mall. This was followed by the opening of
an outlet at the Avenues Mall in Kuwait and another at the Mall
of the Emirates in Jan 2013.
Cheesecake's licensing agreements with Alshaya are targeted
toward the development of its restaurants in United Arab
Emirates, Kuwait, Bahrain, Qatar and the Kingdom of Saudi Arabia
and other operating markets in the Middle East and North Africa,
Russia, Turkey and Europe.
The deals affirms management's plan to make the Middle East one
of the prime destinations for international expansion owing to
the increasing popularity of American dining brands in the
region. However, food cost inflation remains a matter of concern.
The company presently has a short-term Zacks Rank #3 (Hold). Some
better-ranked stocks in the industry include
Buffalo Wild Wings Inc.
Burger King Worldwide, Inc.
Cracker Barrel Old Country Store, Inc.
). All these stocks carry a Zacks Rank #2 (Buy).