Cheesecake Factory ( (CAKE) ) has released its Q1 earnings. Here is a breakdown of the information Cheesecake Factory presented to its investors.
The Cheesecake Factory Incorporated is a prominent player in the experiential dining sector, known for its diverse range of restaurant brands including The Cheesecake Factory, North Italia, and Flower Child, as well as its bakery division that supplies cheesecakes and other baked goods. The company operates over 350 restaurants in North America and licenses additional locations internationally.
In its first quarter of fiscal 2025, The Cheesecake Factory reported a revenue increase to $927.2 million, up from $891.2 million in the same period the previous year. The company achieved a net income of $32.9 million, with adjusted net income reaching $45.7 million when excluding certain expenses related to debt extinguishment and acquisitions.
Key financial highlights include a 1.0% increase in comparable restaurant sales at The Cheesecake Factory locations and the opening of eight new restaurants during the quarter. The company also issued $575 million in convertible senior notes and repurchased 2.6 million shares of its common stock, reflecting strategic capital allocation.
Looking forward, The Cheesecake Factory plans to open up to 25 new restaurants in fiscal 2025, with a focus on expanding its North Italia, Flower Child, and FRC brands. The company maintains a strong liquidity position with $501.9 million available, including cash and credit facilities.
The management remains optimistic about the future, emphasizing their commitment to delivering exceptional dining experiences and maintaining their status as a top employer, as evidenced by their inclusion in Fortune’s ‘100 Best Companies to Work For’ list for the twelfth consecutive year.