Adjusted earnings reached $1.02 per share, comfortably beating the 96-cent consensus among analysts polled by FactSet. The company’s bottom line also benefited from a $12.9 million pre-tax gain linked to the 2019 acquisition of Fox Restaurant Concepts, contributing to a significant leap from the 66 cents per share reported during the same period last year.
In section Market Quotes
Cheesecake Factory Surpasses Estimates as Sales Growth Accelerates
The Cheesecake Factory outperformed market expectations in the third quarter, reporting $1.03 billion in revenue as double-digit growth at its namesake locations outpaced the broader casual dining sector. Net profit nearly doubled to $61.3 million, fueled by successful menu expansions and gains in operational efficiency across its restaurant portfolio.
Chief Executive David Overton attributed the 15.2% surge in comparable restaurant sales to a combination of digital engagement, a revamped rewards program, and high-performing new menu items. While the namesake brand thrived, the company’s North Italia concept saw a 3% decline in comparable sales. Despite this, the operator remains on an aggressive expansion path, having opened six new locations this quarter with plans to launch up to 26 by the end of the year.
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