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Article: L.A. Food Firms Hitting the Road.(Cheesecake Factory expansion)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 6, 2001
- Author:
CopyrightCOPYRIGHT 2001 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Massive Expansion Planned by Well-Heeled Cheesecake Factory
OH, to, be the Cheesecake Factory. Thirty-six quarters -- nine years -- of consecutive same-store sales increases. Landlords knocking down the door to help pay for new locations. Average sales of close to $1,000 per square foot -- nearly twice the numbers put up by competitors. And spectacular stock performance; an investor who put $1,000 into the business at the end of its first day of trading in 1992 would have been sitting on $305,880 worth of stock last week.
All that with virtually no advertising costs to speak of.
Now, the 23-year-old Calabasas Hills company, darling of diners ...