The Cheesecake Factory Inc., one of the most recognizable casual dining chains in the country, has deployed its top executives across investor conferences this year to reiterate its confidence amid market concerns about the chain’s shaky status with customers.
Most recently, the Calabasas-based restaurant sent president David Gordon and chief financial officer Matthew Clark to Nashville, Tennessee, earlier this month to speak at the Piper Sandler Growth Frontiers Conference.
The Piper Sandler conference comes one month after a second-quarter earnings report hinting the end to post-pandemic revenge spending, a trend that saw consumers going out to bars and restaurants at higher rates following the long lockdown period.
While The Cheesecake Factory reported revenue up year over year to $866.2 million, its nearly 11% price hikes across its menu deterred new customers and in-restaurant spending overall, as sales gained only 1%.
Piper Sandler is the fourth conference the duo of Gordon and Clark has spoken at so far this year, with the execs hosting two additional investor meetings at separate conferences, including the Wells Fargo Consumer Conference last week.
That’s triple the investor courtship campaign undertaken by the company last year. Both Gordon and Clark are promoting The Cheesecake Factory’s lesser-known subsidiaries, which were acquired several years ago to deviate away from the golden-domed anchor brand now lagging in foot traffic.
The Cheesecake Factory could be looking to raise capital as it plans an aggressive expansion; it has plans to open as many as 20 new restaurants this year.