Billion-dollar beat, no comment on Obama swipe from Cheesecake Factory

Jessica Guynn, USA TODAYWed, October 28, 2026 at 12:26 AM UTC

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At a time when fewer Americans are dining out amid higher prices, the Cheesecake Factory posted its second straight quarter of billion-dollar earnings, blowing past Wall Street expectations.

But when executives took to the earnings call to walk investors through the numbers, one notable topic remained strictly off the agenda: former President Barack Obama’s viral campaign-trail jab comparing White House renovations with the restaurant’s opulent aesthetic.

Letting the company's performance do the talking was the order of the day after being dragged into the hyperpartisan crossfire as the spiciest talking point of the midterm elections, said retail analyst Neil Saunders.

"Staying quiet is exactly the right thing to do as there is no mileage to be gained from entering this arena," said Saunders, managing director and retail analyst at GlobalData Retail. "Sometimes brands can use humor and clever quips in response to things, but even doing that might be a little dangerous as politics is such a live wire right now."

Obama thrusts Cheesecake Factory into midterm maelstrom

For decades, the Cheesecake Factory has been the ultimate neutral ground of casual dining with a 250-item menu that offers something for everyone, from avocado egg rolls to macaroni and cheese balls.

But in an election season hungry for new targets, one of America’s crowd-pleasing dining spots recently found itself served up as a campaign rally punchline as Obama stumped for Democrats.

"What's up with the gold?" Obama said, referring to President Donald Trump's White House renovations, including construction of a ballroom and the gilded decor of the Oval Office. "I mean, he's got the White House looking like Saddam Hussein opened a Cheesecake Factory."

Trump's critics have seized on the White House renovations, arguing his administration is focused on vanity projects instead of lowering prices for Americans.

"The White House is now in the best shape it’s been since 1792 when it was built. It’s in beautiful shape," Trump told reporters, adding that for Obama "to say it’s a Cheesecake Factory, that just shows why you were a lousy president."

'Cheesecake Factory has always had broad appeal'

Cheesecake Factory representatives did not respond to multiple requests for comment. During his company's earnings call, chairman and CEO David Overton boasted about "the enduring relevance of the brand."

The Cheesecake Factory stock, which trades under the ticker CAKE, has more than doubled since January. It closed at $108 a share on Oct. 27.

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"The Cheesecake Factory has always had broad appeal," Overton told analysts.

That appeal set the stage for Obama's viral moment, which spread like wildfire on social media. One TikToker quipped: "I am craving some cheesecake. Anyone know what time the White House opens?"

A swift backlash from conservatives accused the former president of looking down on everyday Americans.

Treasury Secretary Scott Bessent visited a Cheesecake Factory for lunch, proclaiming: "I had a great meal, always have a great meal, and I would tell the Martha’s Vineyard set to give it a try." The Obamas own a home in Martha's Vineyard.

"Undefeated at condescending to regular folks," commentator Scott Jennings said.

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Cheesecake Factory designer says Obama is off base

Rick McCormack, the restaurant chain's former vice president of design, said he thought Obama's comparison missed the mark.

"I can see how someone with an untrained eye might jump to that conclusion. President Trump has embellished the White House with gold appliqués along with other ornamentation and the Cheesecake Factory has some flashy elements so someone might say they must be the same," he said. "In my opinion, they couldn’t be farther apart."

McCormack credits the restaurant chain's trademark ornate design to Overton, who opened the first restaurant in 1978 to showcase his mom's cheesecakes.

"I believe the first Cheesecake Factory I designed was their sixth restaurant so the design vernacular had already been established. I worked with David to evolve the design and adapt it to new locations," McCormack said. "Our goal was to create a somewhat theatrical design with a bit of a European flair and a sense of grandeur. We wanted guests to arrive and be wowed by the space when they first opened the door and stepped in. Ultimately, we wanted the guests to be pleasantly surprised that they could dine in a nice, upscale restaurant without spending a lot of money."

Despite the radio silence, McCormack said he was pretty sure the Cheesecake Factory was grateful for the free advertising. And, he said, "I'm sure David Overton got a good chuckle out of it."

This article originally appeared on USA TODAY: Billion-dollar beat, no comment on Obama swipe from Cheesecake Factory

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