Cherry on top: Cheesecake Factory dishes out an earnings win from the center of the Obama-Trump controversy
The Cheesecake Factory reported strong earnings, serving up a win as it's caught in the middle between Barack Obama and the White House.
The Cheesecake Factory announced strong third-quarter earnings on Tuesday, attracting attention amid a political controversy. The California-based restaurant chain reported $1.03 billion in revenue, an increase of nearly 14% year-over-year, and comparable sales at its restaurants grew over 15% year-over-year. The earnings call came days after former President Barack Obama mocked President Donald Trump's White House renovations, comparing them to a Cheesecake Factory.
The comment sparked a political feud, with Republicans defending the chain and Obama's taste in design coming under fire. Despite the controversy, The Cheesecake Factory CEO David Overton credited the company's new menu items, rewards program, and social media engagement for driving sales growth. The company's fiscal third quarter ended before Obama's comment, so any potential boost from the headlines may be considered icing on the cake. The Cheesecake Factory has not publicly commented on the political dispute.
Written by urgent.news from Business Insider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
