Cheesecake Factory Profits Double in 3rd Quarter
The Cheesecake Factory Inc., a Calabasas restaurant operator, saw its third-quarter profit more than double thanks to reduced food costs and increased operating efficiencies.
The company said it earned $1.14 million in the quarter ended Sept. 30, in contrast with earnings of $519,000 a year before. Its revenue grew 12%, to $14.1 million from $12.5 million.
In the nine months that ended Sept. 30, the company earned $2.7 million, up 70% from a $1.59-million profit a year earlier. Its revenue totaled $39.3 million, a 12% gain from $35.2 million.
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