Chris- Posted April 22, 2022 Author Posted April 22, 2022 12 minutes ago, Jason said: why Group project for my Financial Accounting course. We decided to study asset impairment for The Cheesecake Factory during the pandemic. 9 minutes ago, Commissar SFLUFAN said: What is its gross margin? (17.5%) Quote
Keyser_Soze Posted April 22, 2022 Posted April 22, 2022 How much does it cost to send all the employees to a hotel for weeks? Quote
Commissar SFLUFAN Posted April 22, 2022 Posted April 22, 2022 10 hours ago, Chris- said: (17.5%) That right there is the pandemic! Quote
Commissar SFLUFAN Posted April 22, 2022 Posted April 22, 2022 Honestly, if there ever was a restaurant chain that needs to take a serious look at its menu and start trimming it significantly, it's this one. Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 9 hours ago, Rachel said: Why does their menu have so many items? They see the scope of their menu as a key component of their competitive positioning. 9 hours ago, Keyser_Soze said: How much does it cost to send all the employees to a hotel for weeks? Their preopening costs in 2020 totaled $10,456,000; they only opened 7 restaurants versus a planned 20. 9 hours ago, Rachel said: WHAT PERCENTAGE OF THEIR SALES ARE CHEESECAKE VS NON CHEESECAKE Desert sales represented approximately 21% of their restaurant sales in 2020 (as opposed to 16% in 2019). 24 minutes ago, Commissar SFLUFAN said: That right there is the pandemic! They impaired their assets by $219 million by the end of 2020, with nearly half of that being impairment of their trademark...I'm not entirely sure how they got their auditor to go along with that since they argued market capitalization and lower projected cash flow should trigger it (I'm guessing they took the stance that the brand is inseparable from their restaurant operations). 1 Quote
Commissar SFLUFAN Posted April 22, 2022 Posted April 22, 2022 25 minutes ago, Chris- said: They see the scope of their menu as a key component of their competitive positioning. I thoroughly understand that, but even a relatively mild rationalization of the menu will still allow them to maintain a diversity of offerings which won't impact their competitive position significantly and could potentially help reduce COGS expenses somewhat. Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 10 minutes ago, Commissar SFLUFAN said: I thoroughly understand that, but even a relatively mild rationalization of the menu will still allow them to maintain a diversity of offerings which won't impact their competitive position significantly and could potentially help reduce COGS expenses somewhat. They actually see it as a hedge against commodity prices, since they are not dependent on any one commodity (so cost increases can offset). Quote
Commissar SFLUFAN Posted April 22, 2022 Posted April 22, 2022 4 minutes ago, Chris- said: They actually see it as a hedge against commodity prices, since they are not dependent on any one commodity (so cost increases can offset). Sure - they're not dependent on one commodity, they're dependent on all of 'em I really do see their strategic thinking, yet I cannot help but look at the multitude of offerings on that menu, want to obtain the revenue/cost metrics associated with each and every item associated with that menu, and then take a very considered, rational scalpel to it! Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 13 minutes ago, Commissar SFLUFAN said: Sure - they're not dependent on one commodity, they're dependent on all of 'em I really do see their strategic thinking, yet I cannot help but look at the multitude of offerings on that menu, want to obtain the revenue/cost metrics associated with each and every item associated with that menu, and then take a very considered, rational scalpel to it! You're thinking like an accountant as opposed to a marketer! 1 Quote
Commissar SFLUFAN Posted April 22, 2022 Posted April 22, 2022 2 minutes ago, Chris- said: You're thinking like an accountant as opposed to a marketer! This is absolutely correct. I UTTERLY DESPISED all of the marketing courses I had to endure as I considered them to be little better than pseudoscience. Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 3 hours ago, Rachel said: Lol this thread is really enjoyable 1 hour ago, stepee said: ya it’s great I’m glad I have entertained you. Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 2 minutes ago, stepee said: Why are the portions so large? That information is not disclosed in their financial statements. Quote
stepee Posted April 22, 2022 Posted April 22, 2022 Just now, Chris- said: That information is not disclosed in their financial statements. well take a guess then Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 Just now, stepee said: well take a guess then More or less everything about their approach seems to be, ‘Fuck it, we ball’ so I think they are just incapable of doing anything on a reasonable scale. Quote
Commissar SFLUFAN Posted April 22, 2022 Posted April 22, 2022 God, I'd LOVE to get my hands on this organization! It would be utterly unrecognizable by the time I'm through with it! 1 Quote
Commissar SFLUFAN Posted April 22, 2022 Posted April 22, 2022 4 minutes ago, skillzdadirecta said: Who is their prime demographic? The 2020 Annual Report has only this to say about customer demographics: Quote The Cheesecake Factory restaurants appeal to a diverse customer base across a broad demographic range. Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 After reviewing their financials for fiscal year 2020, I'm convinced that their asset impairment was an attempt to take a 'big bath'. Quote
Jason Posted April 22, 2022 Posted April 22, 2022 4 hours ago, Commissar SFLUFAN said: Honestly, if there ever was a restaurant chain that needs to take a serious look at its menu and start trimming it significantly, it's this one. Interestingly they make everything on the menu from scratch, it's actually kind of an impressive operation. Quote
Jason Posted April 22, 2022 Posted April 22, 2022 I think I even posted an article about that here, although it may have been pre-database armageddon. Quote
stepee Posted April 22, 2022 Posted April 22, 2022 1 hour ago, Chris- said: More or less everything about their approach seems to be, ‘Fuck it, we ball’ so I think they are just incapable of doing anything on a reasonable scale. I think that sounds accurate. Quote
Brian Posted April 22, 2022 Posted April 22, 2022 How big was the CEO’s bonus for a shitty year? Quote
Chris- Posted April 22, 2022 Author Posted April 22, 2022 12 minutes ago, ManUtdRedDevils said: How big was the CEO’s bonus for a shitty year? $383,075 (had to dig into their proxy filing to find that one). Quote
Dodger Posted April 24, 2022 Posted April 24, 2022 The once a year I invariably end up at a Cheesecake Factory is a pleasant enough experience. Usually fucking crowded too. Quote
Chris- Posted April 24, 2022 Author Posted April 24, 2022 38 minutes ago, Dodger said: The once a year I invariably end up at a Cheesecake Factory is a pleasant enough experience. Usually fucking crowded too. I've actually never eaten at The Cheesecake Factory, but because of this project I told my wife we should get dinner there to celebrate the end of the semester. Quote
Jason Posted April 24, 2022 Posted April 24, 2022 6 minutes ago, Chris- said: I've actually never eaten at The Cheesecake Factory, but because of this project I told my wife we should get dinner there to celebrate the end of the semester. So the class is really one giant branded advertising opportunity? Quote
Pikachu Posted April 25, 2022 Posted April 25, 2022 What is the total amount of their assets and liabilities? Quote
Chris- Posted April 25, 2022 Author Posted April 25, 2022 13 hours ago, Pikachu said: What is the total amount of their assets and liabilities? Assets: $2,747,054,000 Liabilities: $2,458,361,000 1 Quote
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