CAKE — what changed in the latest 10-Q
A section-by-section comparison of CAKE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-03 vs the prior 10-Q · 2026-05-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +26 | −13 | ~17 | 31 |
| Market risk (Item 3) | Text added/removed | +2 | −2 | ~3 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-03
Flower Child sales increased 17.5% to $56.6 million for the second quarter of fiscal 2026, compared to $48.2 million for the second quarter of fiscal 2025. Flower Child sales per restaurant operating week increased 10.8% to $101,252 in the second quarter of fiscal 2026 from $91,400 in the second qua…
Other FRC sales increased 15.4% to $104.0 million for the second quarter of fiscal 2026, compared to $90.2 million for the second quarter of fiscal 2025. Other FRC average sales per restaurant operating week increased 3.9% to $142,120 in the second quarter of fiscal 2026 from $136,841 in the second …
Restaurants become eligible to enter the comparable sales base in their 19th month of operation. As of June 30, 2026, there were six The Cheesecake Factory Restaurants, nine North Italia restaurants and eight Flower Child locations not yet in their respective comparable sales bases. International li…
Food and beverage costs consist of raw materials and ingredients used in the food and beverage products sold in our restaurants and to our third-party bakery customers. As a percentage of revenues cost of sales were 21.8% and 21.6% in the second quarters of fiscal 2026 and 2025, respectively, primar…
As a percentage of revenues, labor expenses, which include restaurant-level labor costs and bakery production labor, including associated fringe benefits, were 34.1% and 34.9% in the second quarters of fiscal 2026 and 2025, respectively. This decrease was primarily due to sales leverage and associat…
Text removed vs the prior filing · source: 10-Q · 2026-05-04
menu price increases of approximately 2.0% and 1.5% in the second and fourth quarters of fiscal 2025, respectively. We are in the process of implementing a 1.0% menu price increase in the second quarter of fiscal 2026.
Flower Child sales increased 21.1% to $52.6 million for the first quarter of fiscal 2026, compared to $43.5 million for the first quarter of fiscal 2025. Flower Child sales per restaurant operating week increased 7.0% to $94,524 in the first quarter of fiscal 2026 from $88,335 in the first quarter o…
Other FRC sales increased 19.6% to $104.5 million for the first quarter of fiscal 2026, compared to $87.4 million for the first quarter of fiscal 2025. Other FRC average sales per restaurant operating week increased 3.9% to $145,169 in the first quarter of fiscal 2026 from $139,655 in the first quar…
Restaurants become eligible to enter the comparable sales base in their 19th month of operation. As of March 31, 2026, there were six The Cheesecake Factory Restaurants, 10 North Italia restaurants and 10 Flower Child locations not yet in their respective comparable sales bases. International licens…
Food and beverage costs consist of raw materials and ingredients used in the food and beverage products sold in our restaurants and to our third-party bakery customers. As a percentage of revenues cost of sales were 21.7% and 21.8% in the first quarters of fiscal 2026 and 2025, respectively, primari…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-03
We attempt to negotiate short-term and long-term agreements for some of our principal commodity, supply and equipment requirements, such as certain dairy products and poultry, depending on market conditions and expected demand. While we are in the
process of contracting for certain key food and non-food supplies for fiscal 2026 and 2027, these efforts may not be successful or yield our intended benefits. We continue to evaluate the possibility of entering into similar arrangements for other commodities and periodically evaluate hedging vehicl…
Text removed vs the prior filing · source: 10-Q · 2026-05-04
We attempt to negotiate short-term and long-term agreements for some of our principal commodity, supply and equipment requirements, such as certain dairy products and poultry, depending on market conditions and expected demand. While we are in the process of contracting for certain key food and non-…
Commodities for which we have not entered into contracts can be subject to unforeseen supply and cost fluctuations, which at times may be significant. Additionally, the cost of commodities subject to governmental regulation, such as dairy and corn, can be
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice