Calabasas Hills, Calif.-based upscale casual dining
The Cheesecake Factory Incorporated
) recently unveiled a new restaurant in Syracuse, N.Y. The
restaurant is located at Destiny USA, a six-story super-regional
shopping and entertainment complex.
Located at 306 Hiawatha Boulevard West, the restaurant is spread
over an area of 10,350 square-feet and can accommodate 310
guests. The restaurant has a varied menu comprising 200 items and
more than 50 low calorie items. Moreover, the outlet offers more
than 50 signature cheesecakes and desserts, including new menu
choices for Destiny USA visitors. Also, the unit has a modern
décor with French limestone flooring and wall paintings.
New York is the most populated city in the United States. We
believe that the restaurant's strategic location along with its
attractive offerings and contemporary ambience will drive
traffic, going ahead.
Cheesecake Factory restaurants are primarily located in or near
malls and shopping centers. We believe that such a location is
perfect for attracting high-end customers. In December last year,
the restaurateur opened an outlet in Bethesda, Md., at the
Westfield Montgomery Mall.
Cheesecake Factory is well positioned to sustain its same-stores
sales growth driven by improved guest traffic. This Zacks Rank #3
(Hold) company with a 0.00%
is scheduled to report fourth-quarter 2013 results today after
the markets close. Management expects to record comparable
restaurant sales growth in 2013 making it the fourth consecutive
year of increase. However, the company tightened its earnings per
share guidance for 2013 during third quarter earnings
anticipating lower external bakery sales. It also indicated that
food costs remain a matter of concern.
Some better-ranked stocks in the industry include
Buffalo Wild Wings Inc.
Carrols Restaurant Group, Inc.
Chipotle Mexican Grill, Inc.
). All these stocks carry a Zacks Rank #2 (Buy).
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