The Cheesecake Factory Inc. reported on Wednesday a 1-percent increase in net income, including a $1.1 million pre-tax charge related to the planned relocation of three restaurants. Excluding those charges, net income rose 3 percent to $28.1 million for the third quarter ended Oct. 1. The Calabasas Hills, Calif.-based company ended the quarter with 177 restaurants, including 165 Cheesecake Factory locations, 11 Grand Lux Cafes and one RockSugar Pan Asian Kitchen.
NET INCOME
Result: $27.5 million, or 50 cents per share% Increase: 1% (from $27.2 million, or 49 cents per share)
REVENUE
Result: $469.7 million% Increase: 3.5% (from $453.8 million)
SAME-STORE SALES
% Increase systemwide: 0.8%
% Increase at The Cheesecake Factory: 1%
% Decrease at Grand Lux Café: 2.6%
Source: Company report
RELATED:
• Cheesecake Factory: 2Q traffic slump tied to weather
• Cheesecake Factory 2Q profit flat after charges
• More restaurant finance news
Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout
