During the second quarter of fiscal 2023, The Cheesecake Factory Incorporated opened a Cheesecake Factory and a Henry in the Miami area and a Doughbird in Tucson, AZ. While all of the sites in the Company?s pipeline remain active, the Company continues to experience some delays in opening dates due to construction challenges and permit approval delays. As a result, the Company now expects to open as many as 20 new restaurants in fiscal 2023, including as many as six Cheesecake Factory restaurants, five North Italia restaurants, and as many as nine FRC restaurants, including three Flower Child locations.

In addition, in fiscal 2023 the Company expects two to three Cheesecake Factory restaurants to open internationally under licensing agreements.