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Cheesecake Factory profit, customer traffic rise
October 24, 2012 / 8:40 PM / 5 years ago

Cheesecake Factory profit, customer traffic rise

* Cheesecake Factory same-restaurant sales up 2.9 percent

* Shares up about 1 percent

Oct 24 (Reuters) - 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 Lux Cafe.

Shares in Cheesecake Factory rose 0.9 percent to $33.05 in extended trading.

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