Cheesecake Factory shares plunge after restaurant chain blames weather for declining sales

Cheesecake Factory said sales will fall this quarter because of poor weather, but investors aren't buying that excuse.

Shares of Cheesecake Factory dropped 8 percent in trading Tuesday.

The company lowered its second quarter 2017 outlook and now expects comparable sales at Cheesecake Factory restaurants to be down approximately 1 percent. This adjustment represents a shift from the company's previous guidance for an increase of one to two percent for the quarter. Analysts expected an increase of 1.7 percent, on average, according to FactSet.

http://www.cnbc.com/2017/06/13/cheesecake-factory-drops-after-restaurant-blames-weather-for-sales.html