The Cheesecake Factory Incorporated Reports Earnings Results for the Fourth Quarter and Full Year Ended January 02, 2024
February 21, 2024 at 09:31 pm
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The Cheesecake Factory Incorporated reported earnings results for the fourth quarter and full year ended January 02, 2024. For the fourth quarter, the company reported sales was USD 877.01 million compared to USD 892.8 million a year ago. Net income was USD 12.68 million compared to net loss of USD 3.3 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to basic loss per share from continuing operations of USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to diluted loss per share from continuing operations of USD 0.07 a year ago.
For the full year, sales was USD 3,439.5 million compared to USD 3,303.16 million a year ago. Net income was USD 101.35 million compared to USD 43.12 million a year ago. Basic earnings per share from continuing operations was USD 2.1 compared to USD 0.87 a year ago. Diluted earnings per share from continuing operations was USD 2.07 compared to USD 0.86 a year ago.
The Cheesecake Factory Incorporated is an experiential dining company focused on hospitality. The Company owns and operates about 334 restaurants throughout the United States and Canada under brands, including The Cheesecake Factory (216 locations), North Italia (37 locations) and a collection within its Fox Restaurant Concepts (FRC) business. The Company's bakery division operates two facilities that produce cheesecakes and other baked products for its restaurants, international licensees, and third-party bakery customers. The Cheesecake Factory menu features about 225 items, exclusive of beverage and dessert items and including items presented on supplemental menus, such as its SkinnyLicious menu that offers items at 590 calories or less. Its menu offerings include appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches, and omelets, including a selection of vegan and gluten-free items. It operates 32 Flower Child and 41 other FRC locations.