The Cheesecake Factory Inc

CAKE: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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New Morningstar Analyst Report - Cheesecake Factory

, Peter Wahlstrom

Feb 24, 2011

Business Strategy and Outlook

With an upscale decor, extensive menu, and reputation for decadent desserts, Cheesecake Factory is a leading upscale casual dining chain. With only 164 restaurants under the Cheesecake, Grand Lux, and RockSugar brand names, this chain has excellent prospects for growth, in our opinion. Still, we'd recommend a wide discount to our fair value estimate before buying the shares, given the intense competition and the discretionary nature of consumer spending at casual dining restaurants.

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The Cheesecake Factory Inc

New Morningstar Analyst Report - Cheesecake Factory

Business Strategy and Outlook

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