The Cheesecake Factory (CAKE) Investor presentation summary

Company overview and portfolio

• Operates 375 restaurants across the US and Canada, including 217 flagship locations, 51 North Italia, 44 Flower Child, and 57 Fox Restaurant Concepts units.

• Recognized as a top employer, named to Fortune's "100 Best Companies to Work For" for 13 consecutive years.

• Diverse experiential dining concepts span casual, upscale, and fast-casual segments.

• International presence with 36 licensed locations in Asia, Latin America, and the Middle East.

Growth strategy and expansion

• Targeting up to 26 new restaurant openings in 2026, including flagship, North Italia, Flower Child, and FRC brands.

• North Italia and Flower Child each targeting ~20% annual unit growth, with long-term potential for 200 and 700 domestic locations, respectively.

• Fox Restaurant Concepts serves as an innovation incubator, supporting portfolio diversification and value creation.

• Significant market runway with future revenue opportunity estimated at $8.5B.

Operational excellence and brand differentiation

• Industry-leading retention and best-in-class operational execution, supported by robust training and compensation.

• Menu breadth, made-from-scratch quality, and high-energy ambiance drive experiential differentiation.

• Integrated bakery operations enable creativity, quality control, and supply chain efficiencies.

• Off-premise sales represent over 20% of revenue, with $2.8M in average annual off-premise sales per restaurant.