起司工坊发布2025财年第三季度业绩会议纪要，聚焦财务指引与业务扩张

Core Viewpoint - The Cheesecake Factory (NYSE: CAKE) is focusing on financial guidance, business expansion, and strategic initiatives as it prepares for its future performance [1] Financial Performance - For Q4 of FY2025, the company expects revenue between $940 million and $955 million, with an adjusted net profit margin target of approximately 5.1%, while maintaining an annual net profit margin target of 4.9% [2] - For FY2026, the company aims for total revenue growth of 4% to 5% compared to FY2025, with an annual net profit margin target of around 5%, and anticipates commodity inflation of 1% to 2% and labor inflation slightly above commodity inflation [2] Business Development - The company plans to accelerate expansion in 2026, with a goal of opening 26 new restaurants, approximately three-quarters of which will be opened in the second half of the year, covering brands such as Cheesecake Factory, North Italia, and Flower Child [3] Strategic Initiatives - Digital Upgrade: The Cheesecake Rewards membership program is experiencing strong growth, and the company plans to launch a dedicated app in the first half of 2026 to enhance user engagement and digital experience [4] - Menu Innovation: The company will continue to promote new items such as "small plates" and "signature dishes," along with seasonal menus to drive improvements in average check size and same-store sales growth [4] - Cost Control: The company is optimizing its cost structure by improving employee retention and operational efficiency, with a continued focus on labor productivity and supply chain management in 2026 [4]