The Cheesecake Factory Provides Business Update

Calabas Hills / CA. (cf) The Cheesecake Factory Incorporated provided a business update in advance of the Company’s participation at two upcoming investor conferences. Fiscal 2021 second quarter-to-date through May 31st comparable sales for The Cheesecake Factory restaurants increased approximately 196 percent year-over-year and 7 percent relative to the same period in fiscal 2019, supported by approximately one-third off-premise sales mix. Based on average weekly sales quarter-to-date of approximately USD 226,500, this equates to approximately USD 11.8 million on average, per unit on an annualized basis.

As of today, nearly all of the Company’s restaurants across its concepts, including 206 Cheesecake Factory locations, are operating with reopened indoor dining rooms with limited capacity in accordance with local mandates and social distancing protocols. On average, Cheesecake Factory restaurants with reopened dining rooms are operating at approximately 70 percent indoor capacity and approximately 75 percent total on-premise capacity including patios. One Cheesecake Factory location is operating an off-premise only model and two locations across the Company’s concepts are currently closed with plans to reopen next week. One new Flower Child location opened in Atlanta last month.