Cheesecake's 2Q profit slips, traffic stabilizes

CALABASAS HILLS Calif. The Cheesecake Factory Inc. reported a 13-percent slide in second-quarter profits, but officials said results were better than expected and guest traffic appears to be stabilizing.

For the quarter ended June 30, the Calabasas Hills, Calif.-based casual-dining chain reported net earnings of $16.6 million, or 28 cents per diluted share, compared with $19.1 million, or 29 cents per diluted share, in the second quarter last year.

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