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Dec 28, 2021
The Cheesecake Factory Q4 2021 Earnings Report
The Cheesecake Factory reported a 40% increase in consolidated revenues to a record $776.7 million for the fourth quarter of fiscal year 2021.
Key Takeaways
The Cheesecake Factory Incorporated reported a strong fourth quarter with a 40% increase in consolidated revenues, reaching a record $776.7 million. Comparable restaurant sales at The Cheesecake Factory restaurants increased 33.8% year-over-year and 7.7% relative to the fourth quarter of fiscal 2019. Adjusted net income per share for the fourth quarter was $0.49.
Consolidated revenues increased by 40% to a record $776.7 million in the fourth quarter.
Comparable restaurant sales at The Cheesecake Factory restaurants increased 33.8% year-over-year.
Adjusted net income per share for the fourth quarter was $0.49.
The company opened four new restaurants during the quarter, meeting its development objective of 14 new restaurants for fiscal 2021.
The Cheesecake Factory
The Cheesecake Factory
Forward Guidance
The Cheesecake Factory is well-positioned to take market share due to its best in-class operators, development pipeline, and solid comparable sales trends across its brands.
Positive Outlook
- Best in-class operators effectively managing the volatile operating environment.
- Development pipeline in place for future growth.
- Solid comparable sales trends across brands.
- Well-positioned to continue taking market share.
- Indoor dining restrictions have been lifted for nearly all of the company’s restaurants across all its concepts.
Challenges Ahead
- The rapidly evolving nature of the COVID-19 outbreak and related containment measures, including the potential for a complete shutdown of the Company’s restaurants.
- Supply chain disruptions.
- Economic, public health and political conditions that impact consumer confidence and spending, including the impact of COVID-19 and other health epidemics or pandemics on the global economy.
- Changes in laws impacting the Company’s business, including laws and regulations related to COVID-19 impacting restaurant operations and customer access to off- and on-premise dining.
- The economic health of the Company’s landlords and other tenants in retail centers in which its restaurants are located, and the Company’s ability to successfully manage its lease arrangements with landlords.