Plans now call for opening between six and eight Cheesecake Factory units this year. During fiscal 2007, the company opened 21 new restaurants. The company also will debut its initial Rock Sugar Pan Asian Kitchen concept this year. No closures are being considered.
"Our plan is to not turn down an A site," said David Overton, chairman and CEO. "As they come up, we absolutely will be taking them."
Using the same site criteria and with a limited number of available sites, the company plans no new Grand Lux Cafes this year. "We're actually disappointed we can't open Grand Lux in 2008," Overton said.
For the quarter, total revenues were $406.3 million, up about 13% from the previous year. Comparable restaurant sales decreased about 0.4%. Net income (including one-time charges) was $13.3 million. The company operates 139 restaurants throughout the US under the Cheesecake Factory name and 13 Grand Lux Cafes.
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