The Cheesecake Factory Provides Business Update
June 02 2021 - 9:00AM
Business Wire
The Cheesecake Factory
Incorporated (NASDAQ: CAKE) today provided a business update in
advance of the Company’s participation at two upcoming investor
conferences. Fiscal 2021 second quarter-to-date through May 31st
comparable sales for The Cheesecake Factory restaurants increased
approximately 196% year-over-year and 7% relative to the same
period in fiscal 2019, supported by approximately one-third
off-premise sales mix. Based on average weekly sales
quarter-to-date of approximately $226,500, this equates to
approximately $11.8 million on average, per unit on an annualized
basis.
As of today, nearly all of the
Company’s restaurants across its concepts, including 206 Cheesecake
Factory locations, are operating with reopened indoor dining rooms
with limited capacity in accordance with local mandates and social
distancing protocols. On average, Cheesecake Factory restaurants
with reopened dining rooms are operating at approximately 70%
indoor capacity and approximately 75% total on-premise capacity
including patios. One Cheesecake Factory location is operating an
off-premise only model and two locations across the Company’s
concepts are currently closed with plans to reopen next week. One
new Flower Child location opened in Atlanta last month.
About The Cheesecake Factory Incorporated
The Cheesecake Factory Incorporated is a leader in experiential
dining. We are culinary forward and relentlessly focused on
hospitality. Delicious, memorable experiences created by passionate
people – this defines who we are and where we are going. We
currently own and operate 299 restaurants throughout the United
States and Canada under brands including The Cheesecake Factory®,
North Italia® and a collection within our Fox Restaurant Concepts
business. Internationally, 28 The Cheesecake Factory® restaurants
operate under licensing agreements. Our bakery division operates
two facilities that produce quality cheesecakes and other baked
products for our restaurants, international licensees and
third-party bakery customers. In 2021, we were named to the FORTUNE
Magazine “100 Best Companies to Work For®” list for the eighth
consecutive year. To learn more, visit
www.thecheesecakefactory.com, www.northitalia.com and
www.foxrc.com.
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Stacy Feit (818) 871-3000 investorrelations@thecheesecakefactory.com
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