Cheesecake Factory's 3rd-Q net up 2.2%; revenue surges 15.4%

Nation's Restaurant News,  Nov 5, 2007  

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CALABASAS HILLS, CALIF. -- The Cheesecake Factory Inc. reported last month a 2.2-percent increase in third-quarter profit on a revenue surge and cost controls over rising expenses. However, slowed traffic and a 1.1-percent dip in average weekly sales still plagued the company's 133-unit namesake brand, officials said.

Net income for the quarter ended Oct. 2 was $18.5 million, or 26 cents per share, compared with $18.1 million, or 23 cents per share, in the same period last year.

Revenues were up 15.4 percent to $375.5 million. Blended same-store sales increased 1.2 percent during the quarter, largely as a result of the 4.8-percent increase in same-store sales for the 10-unit Grand Lux Cafe brand. Same-store sales at the Cheesecake chain rose 1 percent.

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