The Cheesecake Factory Q3 2021 Earnings Report
Key Takeaways
The Cheesecake Factory Incorporated reported a strong third quarter of fiscal 2021 with total revenues of $754.5 million, compared to $517.7 million in the third quarter of fiscal 2020. Net income was $32.7 million, or $0.64 per share. Comparable restaurant sales at The Cheesecake Factory restaurants increased 41.1% year-over-year and 8.3% relative to Q3 2019.
Total revenues reached $754.5 million, a significant increase from $517.7 million in the same quarter last year.
Net income stood at $32.7 million, with diluted net income per common share at $0.64.
Comparable restaurant sales at The Cheesecake Factory restaurants rose by 41.1% year-over-year.
The Company opened eight new restaurants during the third quarter and fourth quarter-to date periods, meeting its development objective to open as many as 14 new restaurants across its concepts this year.
The Cheesecake Factory
The Cheesecake Factory
Forward Guidance
Company is well-positioned to achieve its targeted 7% unit growth objective in fiscal 2022, driving comparable sales growth and managing through the continued volatility in the operating environment