Twenty-five percent of the company’s restaurants have reopened
The Cheesecake Factory continues to reopen restaurants around the country. One of its latest coronavirus business updates suggests that its recovery may be fast-tracked. The data, in fact, show that Cheesecake Factory restaurants that have reopened have recaptured 75 percent of sales levels from 2019 on average. Executives attribute a focus on increasing off-premise sales and building dine-in business as reasons The Cheesecake Factory is fast-recovering from COVID-19-related impacts.
The $4M in sales that restaurants are garnering on average per week are a positive sign for the polished casual-dining chain. A total of 25 percent of its restaurants had reopened as of June 2, including 34 namesake locations.
By mid-June, Calabasas Hill, Calif.-based Cheesecake Factory anticipates that 65 percent of dining rooms that were closed previously due to the COVID-19 health crisis will have reopened. The company calculates 124 Cheesecake Factory restaurants to be part of that total.
Currently, however, due to looting from bad characters among demonstrators fighting for racial equality in the justice system, the Cheesecake Factory reported 87 restaurants closed (fully or partially) as a result.
The company operates 294 restaurants in the U.S. and Canada under several brands, including The Cheesecake Factory and North Italia, and eateries from the portfolio of its wholly-owned subsidiary, Fox Restaurant Concepts. The Cheesecake Factory also licenses 26 International restaurants.
Photo credit: The Cheesecake Factory (featured preview image)
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