The Cheesecake Factory Inc. said Wednesday that bad winter weather and the Easter holiday shift dampened its first-quarter results. Net income for the April 1-ended quarter fell 11 percent, in part due to costs associated with a pending settlement of a legal claim and a pre-tax charge related to the relocation of one restaurant. Bad winter weather and the Easter shift had an estimated 2-percent impact on same-store sales for the quarter, but the company saw strong gift card sales during the holidays and growth in card usage.
The Calabasas Hills, Calif.-based company ended the quarter with 181 restaurants, including 169 under The Cheesecake Factory name, 11 Grand Lux Cafes, and one RockSugar Pan Asian Kitchen.
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