EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Etienne Marcus (818) 871-3000 investorrelations@thecheesecakefactory.com THE CHEESECAKE FACTORY REPORTS RESULTS FOR FOURTH QUARTER OF FISCAL 2024 CALABASAS HILLS, Calif. – February 19, 2025 – The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the fourth quarter of fiscal 2024, which ended on December 31, 2024. Total revenues were $921.0 million in the fourth quarter of fiscal 2024 compared to $877.0 million in the fourth quarter of fiscal 2023. Net income and diluted net income per share were $41.2 million and $0.83, respectively, in the fourth quarter of fiscal 2024. The Company recorded pre-tax net expense of $14.4 million related to impairment of assets and lease termination expense partially offset by Fox Restaurant Concepts (“FRC”) acquisition-related income. Excluding the after-tax impact of these items, adjusted net income and adjusted diluted net income per share for the fourth quarter of fiscal 2024 were $51.8 million and $1.04, respectively. Please see the Company’s reconciliation of non-GAAP financial measures at the end of this press release. Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.7% year-over-year in the fourth quarter of fiscal 2024. “Our fourth quarter performance capped off an excellent year, with solid revenue and earnings contributing to record annual revenue and substantially improved profitability for 2024,” said David Overton, Chairman and Chief Executive Officer. “While our fourth quarter results were led by the strength of The Cheesecake Factory restaurants, we delivered impressive performance across our portfolio of concepts. Consumer demand for the distinct, high-quality dining experiences we provide our guests across our experiential concepts reinforces our confidence in the long-term growth potential of our portfolio.” “We continued to capture market share, as demonstrated by the ongoing outperformance in comparable sales and traffic at The Cheesecake Factory restaurants versus the broader casual dining industry. During the fourth quarter, we opened nine new restaurants to strong consumer demand, for a total of 23 new openings for the year, surpassing our development expectations.” “Our fourth quarter and full-year results marked the achievement of our key financial and operational objectives, including comparable sales growth, margin expansion and accelerating accretive unit growth. With these accomplishments as a foundation, we are confident in our ability to continue delivering on our goals for 2025 and beyond. We remain focused on leveraging our scale, operational strengths and the appeal of our differentiated concepts to drive long-term value to our shareholders in the years to come.” 26901 Malibu Hills Road, Calabasas Hills, CA 91301 ● Telephone (818) 871-3000 Development During the fourth quarter of fiscal 2024, the Company opened nine new restaurants, including three North Italia locations, two Flower Child locations, two FRC restaurants and the relocation of two Cheesecake Factory restaurants. Subsequent to quarter-end, the Company opened five new restaurants, including one North Italia location, two Flower Child locations and two FRC restaurants. The Company now expects to open as many as 25 new restaurants in fiscal 2025, including as many as three to four The Cheesecake Factory restaurants, six to seven North Italia locations, six to seven Flower Child locations, and as many as eight to nine FRC restaurants. Liquidity and Capital Allocation As of December 31, 2024, the Company had total available liquidity of $340.7 million, including a cash balance of $84.2 million and availability on its revolving credit facility of $256.5 million. Total principal amount of debt outstanding was $455 million, including $345 million in principal amount of 0.375% convertible senior notes due June 2026 and $110 million in principal amount drawn on the Company’s revolving credit facility. The Company repurchased approximately 11,800 shares of its stock at a cost of $0.5 million in the fourth quarter of fiscal 2024. In addition, the Company’s Board of Directors has declared a quarterly dividend of $0.27 per share to be paid on March 18, 2025, to shareholders of record at the close of business on March 5, 2025. Conference Call and Webcast The Company will hold a conference call to review its results for the fourth quarter of fiscal 2024 today at 2:00 p.m. Pacific Time. The conference call will be webcast live on the Company’s website at investors.thecheesecakefactory.com. About The Cheesecake Factory Incorporated The Cheesecake Factory Incorporated is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. Delicious, memorable experiences created by passionate people – this defines who we are and where we are going. We currently own and operate 352 restaurants throughout the United States and Canada under brands including The Cheesecake Factory ® , North Italia ® , Flower Child ® and a collection of other FRC brands. Internationally, 34 The Cheesecake Factory ® restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers. In 2024, we were named to the FORTUNE Magazine “100 Best Companies to Work For ® ” list for the eleventh consecutive year. To learn more, visit www.thecheesecakefactory.com , www.northitalia.com , www.iamaflowerchild.com and www.foxrc.com . From Fortune. ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune® and Fortune 100 Best Companies to Work For® are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, The Cheesecake Factory Incorporated. 26901 Malibu Hills Road, Calabasas Hills, CA 91301 ● Telephone (818) 871-3000 Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as codified in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, without limitation, statements regarding the Company’s operations, growth, digital strategies and other objectives. Such forward-looking statements include all other statements that are not historical facts, as well as statements that are preceded by, followed by or that include words or phrases such as “believe,” “plan,” “will likely result,” “expect,” “intend,” “will continue,” “is anticipated,” “estimate,” “project,” “may,” “could,” “would,” “should” and similar expressions. These statements are based on current expectations and involve risks and uncertainties which may cause results to differ materially from those set forth in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. These forward-looking statements may be affected by various factors including: economic, public health and political conditions that impact consumer confidence and spending, including interest rate fluctuations, periods of heightened inflation and market instability, and armed conflicts; supply chain disruptions; demonstrations, political unrest, potential damage to or closure of the Company’s restaurants and potential reputational damage to the Company or any of its brands; pandemics and related containment measures, including the potential for quarantines or restriction on in-person dining; acceptance and success of The Cheesecake Factory in international markets; acceptance and success of North Italia, Flower Child and Other Fox Restaurant Concepts restaurants; the risks of doing business abroad through Company-owned restaurants and/or licensees; foreign exchange rates, tariffs and cross border taxation; changes in unemployment rates; increases in minimum wages and benefit costs; the economic health of the Company’s landlords and other tenants in retail centers in which its restaurants are located, and the Company’s ability to successfully manage its lease arrangements with landlords; the economic health of suppliers, licensees, vendors and other third parties providing goods or services to the Company; the timing of new unit development and related permitting; compliance with debt covenants; strategic capital allocation decisions including with respect to share repurchases or dividends; the ability to achieve projected financial results; the resolution of uncertain tax positions with the Internal Revenue Service and the impact of tax reform legislation; changes in laws impacting the Company’s business; adverse weather conditions in regions in which the Company’s restaurants are located; factors that are under the control of government agencies, landlords and other third parties; the risks, costs and uncertainties associated with opening new restaurants; and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Forward-looking statements speak only as of the dates on which they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by law. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the SEC, which are available at www.sec.gov. 26901 Malibu Hills Road, Calabasas Hills, CA 91301 ● Telephone (818) 871-3000 The Cheesecake Factory Incorporated Condensed Consolidated Statements of Income (unaudited; in thousands, except per share data) 13 Weeks Ended 13 Weeks Ended 52 Weeks Ended 52 Weeks Ended December 31, 2024 January 2, 2024 December 31, 2024 January 2, 2024 Consolidated Statements of Income Amount Percent of Revenues Amount Percent of Revenues Amount Percent of Revenues Amount Percent of Revenues Revenues $ 920,963 100.0 % $ 877,009 100.0 % $ 3,581,699 100.0 % $ 3,439,503 100.0 % Costs and expenses: Food and beverage costs 205,768 22.3 % 201,449 23.0 % 806,021 22.5 % 803,500 23.4 % Labor expenses 315,231 34.2 % 308,555 35.2 % 1,264,382 35.3 % 1,227,895 35.7 % Other operating costs and expenses 247,113 26.8 % 234,969 26.8 % 959,221 26.7 % 922,428 26.8 % General and administrative expenses 57,783 6.3 % 54,683 6.2 % 228,737 6.4 % 217,449 6.3 % Depreciation and amortization expenses 26,435 2.9 % 24,012 2.7 % 101,450 2.8 % 93,136 2.7 % Impairment of assets and lease terminations expense 15,224 1.7 % 27,827 3.2 % 13,647 0.4 % 29,464 0.9 % Acquisition-related contingent consideration, compensation and amortization (income)/expenses (858 ) (0.1 )% 7,796 0.9 % 2,429 0.1 % 11,686 0.3 % Preopening costs 7,635 0.8 % 9,579 1.1 % 27,495 0.8 % 25,379 0.7 % Total costs and expenses 874,331 94.9 % 868,870 99.1 % 3,403,382 95.0 % 3,330,937 96.8 % Income from operations 46,632 5.1 % 8,139 0.9 % 178,317 5.0 % 108,566 3.2 % Interest expense, net (2,137 ) (0.2 )% (2,937 ) (0.3 )% (10,107 ) (0.3 )% (10,160 ) (0.3 )% Other income, net 841 0.0 % 454 0.0 % 2,837 0.1 % 1,608 0.0 % Income before income taxes 45,336 4.9 % 5,656 0.6 % 171,047 4.8 % 100,014 2.9 % Income tax provision/(benefit) 4,182 0.4 % (7,025 ) (0.8 )% 14,264 0.4 % (1,337 ) 0.0 % Net income $ 41,154 4.5 % $ 12,681 1.4 % $ 156,783 4.4 % $ 101,351 2.9 % Basic net income per share $ 0.86 $ 0.27 $ 3.28 $ 2.10 Basic weighted average shares outstanding 47,953 47,828 47,789 48,324 Diluted net income per share $ 0.83 $ 0.26 $ 3.20 $ 2.07 Diluted weighted average shares outstanding 49,645 48,609 48,974 49,050 26901 Malibu Hills Road, Calabasas Hills, CA 91301 ● Telephone (818) 871-3000 The Cheesecake Factory Incorporated Selected Segment Information (unaudited; in thousands) For the 13 Weeks Ended December 31, 2024 The Cheesecake Factory North Other restaurants Italia FRC Other Total Revenues $ 669,382 $ 81,309 $ 85,119 $ 85,153 $ 920,963 Costs and expenses: Food and beverage costs 149,130 18,371 18,346 19,921 205,768 Labor expenses 221,494 29,559 29,941 34,237 315,231 Other operating costs and expenses 175,382 21,598 25,090 25,043 247,113 General and administrative expenses - - - 57,783 57,783 Depreciation and amortization expenses 16,768 2,591 3,143 3,933 26,435 Impairment of assets and lease terminations expense 330 - 14,893 1 15,224 Acquisition-related contingent consideration, compensation and amortization (income)/expenses - - 315 (1,173 ) (858 ) Preopening costs 1,884 2,230 2,396 1,125 7,635 Total costs and expenses 564,988 74,349 94,124 140,870 874,331 Income/(loss) from operations $ 104,394 $ 6,960 $ (9,005 ) $ (55,717 ) $ 46,632 For the 13 Weeks Ended January 2, 2024 The Cheesecake Factory North Other restaurants Italia FRC Other Total Revenues $ 658,445 $ 67,224 $ 70,913 $ 80,427 $ 877,009 Costs and expenses: Food and beverage costs 152,401 16,206 15,769 17,073 201,449 Labor expenses 225,951 23,897 25,083 33,624 308,555 Other operating costs and expenses 173,781 18,285 19,335 23,568 234,969 General and administrative expenses - - - 54,683 54,683 Depreciation and amortization expenses 16,251 1,694 2,289 3,778 24,012 Impairment of assets and lease terminations expense 20,241 1,015 2,527 4,044 27,827 Acquisition-related contingent consideration, compensation and amortization expenses - - 316 7,480 7,796 Preopening costs 4,457 2,926 1,998 198 9,579 Total costs and expenses 593,082 64,023 67,317 144,448 868,870 Income/(loss) from operations $ 65,363 $ 3,201 $ 3,596 $ (64,021 ) $ 8,139 For the 52 Weeks Ended December 31, 2024 The Cheesecake Factory North Other restaurants Italia FRC Other Total Revenues $ 2,661,627 $ 299,575 $ 299,969 $ 320,528 $ 3,581,699 Costs and expenses: Food and beverage costs 599,899 69,505 66,665 69,952 806,021 Labor expenses 913,560 111,082 108,377 131,363 1,264,382 Other operating costs and expenses 696,739 82,290 88,672 91,520 959,221 General and administrative expenses - - - 228,737 228,737 Depreciation and amortization expenses 66,010 9,244 11,389 14,807 101,450 Impairment of assets and lease termination (income)/expenses (1,402 ) - 14,893 156 13,647 Acquisition-related contingent consideration, compensation and amortization expenses - - 1,262 1,167 2,429 Preopening costs 7,499 7,409 9,206 3,381 27,495 Total costs and expenses 2,282,305 279,530 300,464 541,083 3,403,382 Income/(loss) from operations $ 379,322 $ 20,045 $ (495 ) $ (220,555 ) $ 178,317 For the 52 Weeks Ended January 2, 2024 The Cheesecake Factory North Other restaurants Italia FRC Other Total Revenues $ 2,595,066 $ 258,878 $ 263,923 $ 321,636 $ 3,439,503 Costs and expenses: Food and beverage costs 607,439 64,425 59,865 71,771 803,500 Labor expenses 907,579 93,540 93,840 132,936 1,227,895 Other operating costs and expenses 685,521 69,918 72,554 94,435 922,428 General and administrative expenses - - - 217,449 217,449 Depreciation and amortization expenses 64,206 6,407 7,916 14,607 93,136 Impairment of assets and lease terminations expense 20,401 1,015 2,582 5,466 29,464 Acquisition-related contingent consideration, compensation and amortization expenses - - 1,262 10,424 11,686 Preopening costs 12,857 5,058 6,482 982 25,379 Total costs and expenses 2,298,003 240,363 244,501 548,070 3,330,937 Income/(loss) from operations $ 297,063 $ 18,515 $ 19,422 $ (226,434 ) $ 108,566 26901 Malibu Hills Road, Calabasas Hills, CA 91301 ● Telephone (818) 871-3000 The Cheesecake Factory Incorporated Selected Operating, Restaurant and Balance Sheet Information (unaudited; in thousands, except statistical data) 13 Weeks Ended 13 Weeks Ended 52 Weeks Ended 52 Weeks Ended The Cheesecake Factory restaurants operating information: December 31, 2024 January 2, 2024 December 31, 2024 January 2, 2024 Comparable restaurant sales vs. prior year 1.7 % 2.5 % 1.0 % 3.0 % Restaurants opened during period 2 3 3 6 Restaurants open at period-end 215 216 215 216 Restaurant operating weeks 2,795 2,783 11,214 11,010 North Italia operating information: Comparable restaurant sales vs. prior year 1 % 7 % 2 % 8 % Restaurants opened during period 3 3 6 3 Restaurants open at period-end 42 36 42 36 Restaurant operating weeks 535 442 2,021 1,729 Other Fox Restaurant Concepts (FRC) operating information: (1) Restaurants opened during period 2 3 8 6 Restaurants open at period-end 48 40 48 40 Restaurant operating weeks 611 512 2,264 1,906 Other operating information: (2) Restaurants opened during period 2 - 6 1 Restaurants open at period-end 43 39 43 39 Restaurant operating weeks 551 519 2,114 2,074 Number of company-owned restaurants: The Cheesecake Factory 215 North Italia 42 Other FRC 48 Other 43 Total 348 Number of international-licensed restaurants: The Cheesecake Factory 34 (1) The Other FRC segment includes all FRC brands except Flower Child. (2) The Other segment includes the Flower Child, Grand Lux Cafe and Social Monk Asian Kitchen concepts, as well as the Company's third-party bakery, international and consumer packaged goods businesses, unallocated corporate expenses and gift card costs. Selected Consolidated Balance Sheet Information December 31, 2024 January 2, 2024 Cash and cash equivalents $ 84,176 $ 56,290 Long-term debt, net of issuance costs (1) 452,062 470,047 (1) Includes $342.1 million net balance of 0.375% convertible senior notes due 2026 (principal amount of $345 million less $2.9 million in unamortized issuance costs) and $110 million drawn on the Company's revolving credit facility. The unamortized issuance costs were recorded as a contra-liability and netted with long-term debt on the Condensed Consolidated Balance Sheet and are being amortized as interest expense. 26901 Malibu Hills Road, Calabasas Hills, CA 91301 ● Telephone (818) 871-3000 Reconciliation of Non-GAAP Results to GAAP Results In addition to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”) in this press release, the Company is providing non-GAAP measurements which present net income and net income per share excluding the impact of certain items. The non-GAAP measurements are intended to supplement the presentation of the Company’s financial results in accordance with GAAP. These non-GAAP measures are calculated by eliminating from net income and diluted net income per share the impact of items the Company does not consider indicative of its ongoing operations. The Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. The Cheesecake Factory Incorporated Reconciliation of Non-GAAP Financial Measures (unaudited; in thousands, except per share data) 13 Weeks Ended 13 Weeks Ended 52 Weeks Ended 52 Weeks Ended December 31, 2024 January 2, 2024 December 31, 2024 January 2, 2024 Net income (GAAP) $ 41,154 $ 12,681 $ 156,783 $ 101,351 Impairment of assets and lease termination expenses (1) 15,224 27,827 13,647 29,464 Acquisition-related contingent consideration, compensation and amortization (income)/expenses (2) (858 ) 7,796 2,429 11,686 Tax effect of adjustments (3) (3,735 ) (9,262 ) (4,180 ) (10,699 ) Adjusted net income (non-GAAP) $ 51,785 $ 39,042 $ 168,679 $ 131,802 Diluted net income/(loss) per share (GAAP) $ 0.83 $ 0.26 $ 3.20 $ 2.07 Impairment of assets and lease termination expenses (1) 0.31 0.57 0.28 0.61 Acquisition-related contingent consideration, compensation and amortization (income)/expenses (2) (0.02 ) 0.16 0.05 0.24 Tax effect of adjustments (3) (0.08 ) (0.19 ) (0.09 ) (0.22 ) Adjusted diluted net income per share (non-GAAP) (4) $ 1.04 $ 0.80 $ 3.44 $ 2.69 (1) A detailed breakdown of impairment of assets and lease termination expenses recorded in the thirteen and fifty-two weeks ended December 31, 2024 and January 2, 2024 can be found in the Selected Segment Information table. (2) Represents changes in the fair value of the deferred consideration and contingent consideration and compensation liabilities related to the North Italia and FRC acquisition, as well as amortization of acquired definite-lived licensing agreements. (3) Based on the federal statutory rate and an estimated blended state tax rate, the tax effect on all adjustments assumes a 26% tax rate for the fiscal 2024 and 2023 periods. (4) Adjusted net income per share may not add due to rounding. 26901 Malibu Hills Road, Calabasas Hills, CA 91301 ● Telephone (818) 871-3000

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.