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The Cheesecake Factory 3Q revenues rise 2.8 percent

The Cheesecake Factory saw revenues increase 2.8 percent to $430.4 million in the third quarter ended Sept. 27th, the company reported today. Net income declined to $20.6 million, down 6.2% from the year ago quarter. Same store sales climbed .8 percent in the quarter and were impacted by Hurricane Irene .4 percent. Restaurant sales would have increased 1.2 percent without the bad weather. David Overton, Cheesecake Factory’s president and CEO, said the company’s positive comparable results lead to its seventh consecutive quarter of positive comparable sales. “Our new restaurants are opening to long wait times and above-average sales volumes, further contributing to our growth,” Overton said during an investor conference call. In 2012, Cheesecake Factory plans to open seven to 10 restaurants domestically and three internationally, Overton said.

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