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Cheesecake Factory revenues up in Q1 2013

RBR Staff Writer Published 25 April 2013

The Cheesecake Factory has reported total revenues of $463m in the first quarter ended 2 April 2013 compared to $435.8m in the same quarter last year.

Net income was $25.29m, compared to $20.72m in the first quarter of fiscal 2012.

Comparable restaurant sales at The Cheesecake Factory and Grand Lux Cafe grew 1.4% in the first quarter of fiscal 2013, but were negatively impacted by approximately 0.6% due to storms in the Northeast.

The Cheesecake Factory chairman and chief executive officer David Overton said that the company's performance in the quarter demonstrates the strength of its restaurants domestically, as well as globally.

"We are well positioned to deliver on our goals of returning to peak operating margins and averaging 'mid-teens' earnings growth, with multiple levers in place to achieve these objectives and drive shareholder value even higher," Overton said.

The Cheesecake Factory currently operates 174 full-service, casual dining restaurants throughout the US, including 162 outlets under The Cheesecake Factory mark; 11 outlets under the Grand Lux Cafe mark; and one outlet under the RockSugar Pan Asian Kitchen mark.