Business · Companies · 2 hrs ago
Cheesecake Factory posts strong quarter amid Obama-Trump feud
The Cheesecake Factory reported strong third-quarter results as a political feud drew attention to the chain.
The California-based restaurant company had $1.03 billion in revenue, nearly 14% higher than a year earlier, while sales at comparable restaurants rose more than 15%.
CEO David Overton credited new menu items, its rewards program and social media engagement for the sales growth.
The publicity followed former President Barack Obama’s joke at a Cleveland rally comparing President Donald Trump’s White House renovations to Saddam Hussein opening a Cheesecake Factory.
Republicans criticized Obama’s comments, and Treasury Secretary Scott Bessent visited one of the restaurants; the company itself did not comment on the dispute.
The quarter ended September 29, before Obama’s remarks, so the results do not reflect any possible boost from the recent headlines.
The Cheesecake Factory reported third-quarter revenue of $1.03 billion, up nearly 14% year over year.
Comparable restaurant sales rose more than 15% year over year.
The earnings report came days after Barack Obama invoked the chain while criticizing Donald Trump’s White House renovations.
CEO David Overton credited new menu items, the rewards program and social media engagement for sales growth.
The company’s fiscal third quarter ended September 29, before Obama’s comment, and executives did not address the feud on the earnings call.
- Who
- The Cheesecake Factory reported the results; CEO David Overton discussed factors behind sales growth.
- What
- The chain reported third-quarter revenue of $1.03 billion and comparable sales growth of more than 15% year over year.
- When
- The results were reported on Tuesday. The fiscal quarter ended September 29.
- Where
- The Cheesecake Factory is a California-based restaurant chain.
- Why
- Overton credited new menu items, the rewards program and social media engagement for sales growth.
This story does not have two clearly opposing sides.
Obama compared Trump’s White House renovations to a Cheesecake Factory at a campaign rally in Cleveland.
Treasury Secretary Scott Bessent visited a Cheesecake Factory for lunch and discussed the restaurant on Fox Business.
Trump defended the White House renovations and criticized Obama’s comparison.
The Cheesecake Factory reported its third-quarter results, and executives did not address the political feud on the earnings call.
- Quarterly revenue
- $1.03 billion
- Revenue growth
- Nearly 14% year over year
- Comparable sales growth
- More than 15% year over year
- Fiscal third quarter ended
- September 29
- CEO
- David Overton
What people are saying
The Cheesecake Factory has long enjoyed tremendous brand affinity across generations, and its ability to attract younger guests reinforces the enduring appeal and relevance of our namesake concept
He's got the White House looking like Saddam Hussein opened a Cheesecake Factory. There's gold everywhere
The White House is now in the best shape it's been since 1792 when it was built
I would tell the Martha's Vineyard set to give it a try