* Cheesecake Factory same-restaurant sales up 2.9 percent
* Shares up about 1 percent
Oct 24 Cheesecake Factory Inc on
Wednesday reported higher quarterly profit after an increase in
customers helped sales at its established namesake restaurants
grow more than expected.
Third-quarter net income at the chain, known for its array
of cheesecakes and ample portions, increased to $27.2 million,
or 49 cents per share, from $20.6 million, or 36 cents per
share, a year earlier.
Revenue increased to $453.8 million from $430.4 million a
year earlier.Ÿ Ÿ
Sales at restaurants open at least 18 months were up 2.9
percent at the Cheesecake Factory and fell 2 percent at Grand
Lux Cafe, its smaller chain.
Analysts polled by Consensus Metrix expected a 2.3 percent
sales gain at Cheesecake Factory and a 0.8 percent fall at Grand
Shares in Cheesecake Factory rose 0.9 percent to $33.05 in