Despite severe winter weather’s drag on fourth-quarter same-store sales, The Cheesecake Factory Inc. recorded double-digit increases in net income for both the Dec. 31-ended fourth quarter and full year in fiscal 2013. The Calabasas Hills, Calif.-based casual-dining operator opened nine company-owned restaurants during the year and relocated three units to more favorable real estate sites. Fourth-quarter same-store sales rose 0.9 percent, which included a 0.7-percent negative impact from winter storms across the country.
The company operates 181 restaurants under The Cheesecake Factory, Grand Lux Café and RockSugar Pan Asian Kitchen brands.
4Q NET INCOME
Result: $33 million, or 62 cents per share% Increase: 49.3% (from $22.1 million, or 40 cents per share)
4Q REVENUE
Result: $475.1 million% Increase: 2.2% (from $464.7 million)
4Q SAME-STORE SALES
% Increase at The Cheesecake Factory: 1.1%
% Decrease at Grand Lux Café: 1.1%
Source: Company report
FULL YEAR NET INCOME
Result: $114.4 million, or $2.10 per share% Increase: 16.3% (from $98.4 million, or $1.78 per share)
FULL YEAR REVENUE
Result: $1.88 billion% Increase: 3.9% (from $1.81 billion)
FULL YEAR SAME-STORE SALES
% Increase: 1%Source: Company report
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