The Cheesecake Factory Incorporated (NASDAQ:CAKE) Q2 2023 Earnings Conference Call August 2, 2023 5:00 PM ET

Company Participants

Etienne Marcus - VP, Finance and IR

David Overton - Chairman and CEO

David Gordon - President

Matthew Clark - EVP and CFO

Conference Call Participants

Brian Mullan - Piper Sandler

John Park - Wells Fargo

Dennis Geiger - UBS

Joshua Long - Stephens Inc.

Brian Vaccaro - Raymond James

Sharon Zackfia - William Blair

Brian Harbour - Morgan Stanley

Andy Barish - Jefferies

David Tarantino - Baird

John Ivankoe - JPMorgan

Jeffrey Bernstein - Barclays

Jim Sanderson - North Coast Research

Operator

Thank you for standing by. My name is Cindy and I will be your conference operator today. At this time, I would like to welcome everyone to the Cheesecake Factory 2023 Quarter Two Earnings Call. [Operator Instructions] Thank you.

I will now turn the call over to Etienne Marcus, Vice President of Finance and Investor Relations.

Etienne Marcus

Good afternoon and welcome to our second quarter fiscal 2023 earnings call. On the call with me today are David Overton, our Chairman and Chief Executive Officer, David Gordon, our President; and Matt Clark, our Executive Vice President and Chief Financial Officer.

Before we begin, let me quickly remind you that during this call, items will be discussed that are not based on historical fact and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could be materially different from those stated or implied in forward-looking statements as a result of the factors detailed in today's press release, which is available on our website at investors.thecheesecakefactory.com and in our filings with the Securities and Exchange Commission.

All forward-looking statements made on this call speak only as of today's date and the company undertakes no duty to update any forward-looking statements. In addition, during this conference call, when discussing comparable sales, we will be referring to comparable sales on an operating week basis, unless specifically stated otherwise.

We will also be presenting results on an adjusted basis, which excludes impairment of assets and lease terminations and acquisition-related expenses. An explanation of our use of non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures appear in our press release on our website as previously described.

David Overton will begin today's call with some opening remarks, and David Gordon will provide an operational update. Matt will then review our second quarter results and provide a financial update. Following that, we'll open the call to questions.