The Cheesecake Factory has posted increases in sales and profit for the second quarter, extending the growth recorded in the first quarter.
The company’s revenue rose to $904 million for the 13 weeks ended July 2, compared to $866.2 million in the prior-year period. Net income was up from $42.6 million last year to $52.4 million.
“Building on our first quarter momentum, we delivered solid top- and bottom-line results in the second quarter contributing to a strong performance in the first half of the year,” said David Overton, chairman and CEO.
The positive performance was led by the strength of The Cheesecake Factory restaurants, whose comparable sales increased 1.4 per cent year on year, Overton added.
“The resilient consumer demand for the distinct, high-quality dining experiences we provide our guests and brand affinity for our namesake concept has been pivotal in supporting our continued outperformance of the broader casual dining industry,” he elaborated.
During the quarter, the company opened five new restaurants, including one Cheesecake Factory, one North Italia, two Flower Child locations and one Culinary Dropout. The firm targets 22 new restaurants this year and has opened 11 in the first half.
