PHOENIX — The executives of Fox Restaurant Concepts' parent company continue to be surprised by how the Phoenix-based company’s restaurants perform.
FRC, which was founded by renowned restaurateur Sam Fox, saw its second-quarter revenue grow 27.5% to $90.3 million, compared to the same quarter in 2021, according to latest earnings report from The Cheesecake Factory (Nasdaq: CAKE), the parent company of FRC.
In 2019, Cheesecake acquired Fox Restaurant Concepts for more than $300 million. The company uses Fox’s restaurant company as an incubator – testing and developing new concepts and ideas and then rolling them out across a wider footprint.
Currently Flower Child, a healthy food concept, is the brand of Fox’s that Cheesecake is looking to expand.
“We continue to be very bullish on Flower Child, the recent openings continue to perform well,” David Gordon, the president of the Cheesecake Factory, said during a July 28 earnings call.
Read more of this story from the Business Journal.