Total revenues for the period ended Oct. 3 were up 11%, to $325 million. Other than macroeconomic trends, same-sales were impacted 1% due to a calendar shift, and this year's quarter started after the Fourth of July as opposed to 2005.
During the quarter, the company opened three Cheesecake Factories and one Grand Luxe. For the year, executives are planning 21 new Cheesecakes and one Grand Luxe and have opened eight year-to-date units. Most new stores will open in November and Decemeber.
Executives have said they have room to open a total of 350 restaurants in the US. They says that the company only has units in 48 of the top 100 markets in the country.
The average weekly sales of stores opened in Oklahoma City and Albany, NY in the third quarter were $262,000. The average Cheesecake unit takes in $11 million per years on average tickets of $17.
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