Cheesecake Factory reports Q4 adjusted EPS 56c, consensus 57c

Reports Q4 revenue $892.8M, consensus $900.94M. Comparable restaurant sales at The Cheesecake Factory restaurants increased 4.0% year-over-year in Q4. Relative to fiscal 2019, Q4 comparable restaurant sales at The Cheesecake Factory restaurants increased 11.4%. Through February 21st, first quarter-to-date comparable sales for The Cheesecake Factory restaurants increased approximately 9.5% year-over-year and 17.0% as compared to the same period in fiscal 2019. The company said, "During the quarter we opened eight new restaurants and successfully implemented incremental pricing to support our stated objective of recovering our operating margins. We believe the strong consumer demand we experienced at our new restaurant openings and continued positive sales trends following our pricing actions demonstrate the strength and resilience of our concepts. Building on this momentum, we remain intently focused on effectively managing through higher costs and potential macro headwinds to protect our longterm sales and margins. Given the strength of our operations team, our brands and our commitment to managing the business for longterm, profitable growth, we believe we are well-positioned to take market share and drive shareholder value in the quarters and years ahead."