From Nation's Restaurant News · · 2m
Cheesecake Factory posts record-breaking revenues for the second quarter in a row
Cheesecake Factory reports second straight quarter of record-breaking revenue growth.
In brief
Cheesecake Factory reports second straight quarter of record-breaking revenue growth. Cheesecake Factory achieved $1 billion in revenue for the third quarter, marking the second consecutive quarter with 15.2% same-store sales growth. Originally reported by Nation's Restaurant News.
Cheesecake Factory reports second straight quarter of record-breaking revenue
Cheesecake Factory topped $1 billion in revenue for the third quarter, marking the second consecutive quarter with record-breaking performance.
15.2% same-store sales growth
The company saw 15.2% same-store sales growth on 9.5% traffic growth, outperforming analyst expectations.
Record AUVs despite slow quarter
Brand president David Gordon noted record AUVs even though the third quarter is historically the company's slowest of the year.
Marketing strategy shift
Cheesecake Factory has become more aggressive with marketing, leveraging social media and brand differentiation to drive digital engagement and in-store visits.
Cheesecake Rewards program growth
The company's Cheesecake Rewards program, launched earlier this year, is driving membership momentum and attracting new guests, especially younger social media users.
Culinary innovation focus
The Bowls & Bites section of the menu is particularly doing well, reflecting the company's culinary innovation focus for the quarter.
Financial results
Cheesecake Factory reported total revenues of just over $1 billion for the third quarter, compared to $907.3 million the same quarter the year prior.
Net income growth
The company reported net income of $61.3 million or $1.19 per share, nearly double the $31.9 million or $0.66 per share the same quarter the year prior.
New restaurant openings
Cheesecake Factory opened six new restaurants, ending the quarter with 380 restaurants across its portfolio.
Future expansion plans
The company expects to open as many as 26 new restaurants during the remainder of the fiscal year.
Brand president statement
Brand president David Gordon said the company's performance reinforces their strategy and focus on operational execution, menu innovation, and rewards program growth.
Here's the gist
Cheesecake Factory achieved $1 billion in revenue for the third quarter, marking the second consecutive quarter with 15.2% same-store sales growth.
