Cheesecake Factory Slides Most in 19 Years, Hit by Labor Costs
- Shares tumble the most in more than 19 years on earnings
- Rising minimum wages and overtime costs taking a toll
Various flavored cheesecakes sit in a display case at a Cheesecake Factory Inc. restaurant in the Canoga Park neighborhood of Los Angeles, California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Investors are losing their sweet tooth for Cheesecake Factory Inc.
They sent the shares down the most in more than 19 years Wednesday after the restaurant chain posted second-quarter earnings that missed analysts’ estimates and lowered its full-year profit forecast.