Calabas Hills / CA. (cf) The Cheesecake Factory Inc. reported financial results for the fourth quarter of fiscal 2015, which ended on December 29, 2015. Total revenues were 526.8 million USD in the fourth quarter of fiscal 2015 as compared to 499.7 million USD in the prior year fourth quarter. Net income and diluted net income per share were 27.2 million USD and 0.54 USD, respectively, in the fourth quarter of fiscal 2015.
Operating Results
Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.1 percent 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, Chief Executive Officer.
«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. We recorded over 2 billion USD in revenues for the first time, moved another step forward towards improving our 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.
Development
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.
Capital Allocation
In fiscal 2015, the Company repurchased 2.1 million shares of its common stock at a cost of 104.8 million USD, including approximately 350’000 shares repurchased in the fourth quarter at a cost of 17.3 million USD. In total, the Company returned 140.7 million USD in cash to shareholders in fiscal 2015 through share repurchases and dividends. The Company’s Board of Directors declared a quarterly cash dividend of 0.20 USD per share on the Company’s common stock, payable on March 14, 2016 to shareholders of record at the close of business on March 1, 2016. For fiscal 2016, the Company continues to expect that it will return substantially all its free cash flow to shareholders in the form of share repurchases and dividends.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Europastry S.A.: shelves IPO plans once again
- Buyers Edge Platform: acquires Parsly Software
- Almarai: announces interim 9M-2024 financial results
- Emmi: completes acquisition of Mademoiselle Desserts
- Luckin Coffee: breaks ground on Innovation and Production Center
- Strong result for Lantmännen in the second tertial 2024
- Pladis: opens new chocolate cafe in Dubai Mall
- Apropos CP Kelco: Tate + Lyle announces additional information
- Lesaffre: acquires a majority stake in Biorigin
- CA-1 Robot: Circus Group Launches Munich Showroom
- Ferrero: opens new production facility in Illinois
- HungryPanda: Raises 55 Million to Accelerate Growth
- McCormick: Reports Third Quarter 2024 Performance
- Subway Sandwiches: Continues to Expand Its Global Presence
- Nissin Foods: Acquires Frozen Food Manufacturer ABC Pastry
- SnackFutures Ventures: makes investment in Doughnut Start-Up
- PepsiCo: To Acquire Siete Foods For 1.2 Billion
- Europastry S.A.: goes public on the Spanish stock exchange
- Insomnia Cookies: Reaches 300 Store Locations Globally
- Reborn Coffee: Announces Joint Venture in Thailand