The Cheesecake Factory Inc. recorded a 15-percent increase in net income during its second quarter ended June 30, the company said Wednesday.
Second-quarter net income for the casual-dining operator was $34.7 million, or 69 cents per share, compared with $30 million, or 59 cents per share, a year ago.
Revenue was $529.1 million, a nearly 7-percent increase from $496.4 million a year ago.
Same-store sales for The Cheesecake Factory increased 2.8 percent, marking the 22nd consecutive quarter of gains. The company does not report sales trends for its Grand Lux Cafe brand.
“Our business is performing well across multiple dimensions. We are operating our restaurants effectively, improving in key areas such as food efficiency, and maintaining our high guest satisfaction scores,” David Overton, The Cheesecake Factory Inc. chairman and CEO, said in a statement.
“In addition, favorability in the cost areas that heavily impacted us last year contributed to significant margin expansion and growth in earnings per share,” he added. “We are well positioned as we enter the second half of the year, with our newer restaurants performing well and our core business on solid ground.”
During the quarter, the company opened two locations of its namesake brand and one Grand Lux Cafe unit. In fiscal 2015, the company expects to open as many as 11 restaurants domestically.
Internationally, three restaurants are planned in the Middle East and Mexico under licensing agreements, one of which opened earlier this year in Mexico City.
Based in Calabasas Hills, Calif., The Cheesecake Factory Inc. operates 192 restaurants in the U.S. and Puerto Rico, including 179 units under The Cheesecake Factory brand and 12 Grand Lux Cafe locations, along with one RockSugar Pan Asian Kitchen unit. Another nine Cheesecake Factory locations are licensed internationally.
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