Pre-tax charges tied to relocation dilute company's earnings per share
Net income for The Cheesecake Factory Inc. was somewhat flat for the second quarter ended July 2, though the company made progress toward a return to peak margins. The Calabasas Hills, Calf.-based casual-dining chain took a pre-tax charge of about $1.5 million related to the planned relocation of two restaurants, which diluted earnings per share by about 2 cents. The Cheesecake Factory Inc. plans to add eight to 10 new restaurants in fiscal 2013 in the U.S. and one new unit in the Middle East.
Result: $28.6 million, or 52 cents per share
% Increase: 0.6% (from $28.4 million, or 52 cents per share)
Result: $470.1 million
% Increase: 3.4% (from $454.7 million)
% Increase: 0.8% systemwide
(0.9% increase at The Cheesecake Factory, 0.1% increase at Grand Lux Café)
• Cheesecake Factory profit, sales rise in 1Q
• The Cheesecake Factory: Sandy stunts 4Q sales
• Same-store sales at NRN.com
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