Cheesecake factory is probably maxed out in terms of expansion. They are only found in the one or two sides of a city that has residents with higher incomes, in or near the mall with the Apple Store and Nordstroms.
Their market cap has not gone anywhere in 10+ years and they earn meager profit margins, so I assume people whose job it is to analyze the businesses have mostly predicted there is not much room for expansion.
I had never thought about it much and I don’t routinely eat out locally but the one location I could identify off the top of my head, it’s because I sometimes go to the Apple Store in the mall.
Their market cap has not gone anywhere in 10+ years and they earn meager profit margins, so I assume people whose job it is to analyze the businesses have mostly predicted there is not much room for expansion.