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Darden Restaurants lower after restaurant traffic weak in FQ2

  • Darden Restaurants (DRI) reports a blended same-restaurant sales slip of 1.0% in FQ2 for its Olive Garden, Red Lobster, and Longhorn Steakhouse chains.
  • The company says a shift in the timing of Thanksgiving impacted same-restaurant sales favorably by 90 bps during the period.
  • Olive Garden was the best-performing brand as lower expenses helped it see profit increase compared to a year ago, while the other two chains saw profits worsen. (PR)
  • DRI -5.5% premarket
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