What does the date on a package of cream cheese mean?

Containers of cream cheese usually carry either a "sell by" label, indicating how long a retailer can keep a product in the dairy case; a “best if used by,” date, meaning the flavor or quality begins to diminish after this date, but the product is still edible; or a "use by" date, indicating how long the product will stay fresh at home. These dates apply to the refrigerated, unopened container of cream cheese and relate to quality NOT safety.
 
Source(s):
USDA Factsheet: “Food Product Dating”
Marianne Smukowski, outreach program manager, Wisconsin Center for Dairy Research, University of Wisconsin.