The Cheesecake Factory reported total revenue of $927.2 million for the first quarter of this year, up from $891.2 million in the same period last year, along with a net income of $32.9 million.
Comparable restaurant sales rose to 1 per cent from 0.6 per cent year-on-year.
“Our first quarter results reflect a strong start to the year as we delivered solid topline revenue, margins and earnings, reflecting continued positive momentum across our business,” said David Overton, chairman and CEO.
During the first quarter of this financial year, eight new restaurants were opened, and 25 new restaurants are expected to open through the rest of the fiscal year.
The Cheesecake Factory’s total available liquidity was reported at $509.1 million, with a cash balance of $135.4 million.
“Sales finished towards the higher end of our expectations, led by The Cheesecake Factory restaurants, underscoring the consistent consumer demand for the high-quality, differentiated dining experiences we provide,” said Overton.
