Weak traffic for Red Lobster drags down Darden Restaurants

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.

From other sites
Comments (2)
  • COBeeMan
    , contributor
    Comments (2979) | Send Message
    I cannot eat a whole meal at Red Lobster, and I refuse to be wasteful, so my wife and I have stopped going. Our friends say the same thing! We are the 50's and older crowd...the boomers.
    3 Mar 2014, 07:59 PM Reply Like
  • spbigger
    , contributor
    Comments (18) | Send Message
    What is wrong with Red Lobster? I really enjoy going there a couple of times each month.
    4 Mar 2014, 05:17 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs