Americans love The Cheesecake Factory.
The restaurant known for its massive 21-page menu and dozens of dessert options is ranked as one of the top casual dining restaurants in the U.S. by trade publication Nation’s Restaurant News.
The company reported positive same-store sales growth in 21 of the 24 quarters before Covid-19 hit in March 2020. But the eatery popular with everyone from NBA stars to cheesecake aficionados has fallen on hard times as the coronavirus pandemic has wreaked havoc on the restaurant industry.
In February, Cheesecake Factory announced fourth-quarter sales of $554 million, a 20% drop from a year earlier. Same-stores sales fell 19.5% during the same period.
So after more than 40 years in business will Cheesecake Factory be able to regain its momentum and will the chain’s takeout and delivery service be enough to offset the decline of the dine-in restaurant experience? Watch the above video to find out more.
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Source: Business - cnbc.com
