Cheesecake Factory Sees Bigger Slice of Profits
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The Cheesecake Factory Inc., reported a net income of $2.9 million for its third quarter, up 71% from $1.7 million a year earlier.
The Calabasas-based restaurant chain posted sales for the three months that ended Sept. 28 of $53.6 million, up 27% from $42.2 million a year earlier.
In September, The Cheesecake Factory filed with the Securities and Exchange Commission to offer 2.7 million shares of its common stock, with the hope of raising $56 million to help reduce debt and open more restaurants.
In October, the company signed an agreement with Walt Disney Co. to be the entertainment concern’s exclusive food service operation for the Disney Quest theme park in Orlando, Fla.
The Cheesecake Factory operates 21 casual dining restaurants in 12 states.
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