The Cheesecake Factory Incorporated reported total revenues were $526.8 million in the fourth quarter of fiscal 2015, as compared to $499.7 million in the prior year fourth quarter. Net income and diluted net income per share were $27.2 million and $0.54, respectively, in the fourth quarter of fiscal 2015.
Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.1% in the fourth quarter of fiscal 2015.
“The fourth quarter of 2015 marks the completion of our sixth consecutive year of delivering positive comparable sales every quarter, and a continuation of our outperformance relative to the casual dining industry,” said David Overton, CEO of The Cheesecake Factory. “We achieved a number of important milestones in 2015. We expanded our business and now operate 200 restaurants across three concepts. In addition, our international presence grew to 11 locations in operation under licensing agreements.
Overton added that the company recorded over $2 billion in revenues for the first time, moved another step forward toward improving operating margin, and grew adjusted earnings per share by 20 percent. “Overall, we successfully accomplished our commitment to increasing shareholder returns in 2015 while also remaining focused on quality growth for the future,” concluded Overton.
The company opened six The Cheesecake Factory restaurants during the fourth quarter of fiscal 2015, meeting its objective to open as many as 11 company-owned restaurants domestically in fiscal 2015.
Internationally, two The Cheesecake Factory restaurants opened in the Middle East in the fourth quarter of fiscal 2015, for a total of three locations opened under licensing agreements in the Middle East and Mexico during the year, as expected.
In fiscal 2016, the company continues to expect to open as many as eight company-owned restaurants domestically. Internationally, the company expects as many as four to five restaurants to open under licensing agreements.