Stock Alert: Cheesecake Factory Up 12%

(RTTNews) - Shares of restaurant company The Cheesecake Factory Incorporated (CAKE) are climbing more than 12% Wednesday morning after the company said its restaurants that have reopened brought in sales of about 75% of prior year numbers.

Approximately 25% of the company's restaurants across its concepts, including 34 Cheesecake Factory restaurants have reopened dining rooms with limited capacity in accordance with local mandates, Cheesecake Factory said.

The company expects approximately 65% of dining rooms across its concepts and 124 Cheesecake Factory restaurants to be reopened by mid-June.

Cheesecake Factory stock is currently trading at $23.47. It has traded in the range of $14.52- $46.26 in the past one year.