Weak traffic for Red Lobster drags down Darden Restaurants

|About: Darden Restaurants, Inc. (DRI)|By:, SA News Editor

Darden Restaurants (DRI) expects FQ3 EPS of $0.82 as the company's bottom line takes a hit from costs associated with a fresh strategic plan and severe winter weather in the U.S.

Analysts had projected EPS would come in at $0.93 for the quarter.

For the quarter, blended same-restaurant sales are forecast to be 0.7% lower than a year ago.

Red Lobster continues to see abysmal traffic patterns with double-digit declines recorded in December, January, and February.