Cheesecake Factory 2Q profit flat after charges

Cheesecake Factory 2Q profit flat after charges

Pre-tax charges tied to relocation dilute company's earnings per share

Net income for The Cheesecake Factory Inc. was somewhat flat for the second quarter ended July 2, though the company made progress toward a return to peak margins. The Calabasas Hills, Calf.-based casual-dining chain took a pre-tax charge of about $1.5 million related to the planned relocation of two restaurants, which diluted earnings per share by about 2 cents. The Cheesecake Factory Inc. plans to add eight to 10 new restaurants in fiscal 2013 in the U.S. and one new unit in the Middle East.

NET INCOME

Result: $28.6 million, or 52 cents per share
% Increase: 0.6% (from $28.4 million, or 52 cents per share)

REVENUE

Result: $470.1 million
% Increase: 3.4% (from $454.7 million)

SAME-STORE SALES

% Increase: 0.8% systemwide
(0.9% increase at The Cheesecake Factory, 0.1% increase at Grand Lux Café)


Source: Company report

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• Same-store sales at NRN.com

Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout

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