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Tuesday, Apr 16, 2024

No Cakewalk for Cheesecake

In preliminary data for the third quarter of 2006, The Cheesecake Factory said that its comparable store sales declined by 1.6 percent, although its Grand Lux Caf & #233; saw a 6.7 percent increase in comparable store sales. Cheesecake Factory said its total revenues increased about 11 percent to $325 million in the third quarter ended Oct. 3, from $292.8 million in the like period a year ago. The company also said that it has incurred expenses of about $1 million to $1.2 million in the third quarter connected with its voluntary stock option review. Officials said additional expenses related to the review and the SEC inquiry will likely be incurred in the future.

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