Seeking Alpha

Weak traffic trends persist at Darden Restaurants

  • Darden Restaurants (DRI) falls short of analysts estimates with its FQ4 report as weak traffic trends persists.
  • Same-restaurant growth: Longhorn Steakhouse +2.4%, Specialty Restaurant Group +2.0%, Olive Garden -3.5%, Red Lobster -5.6%.
  • All three restaurant concepts showed higher pricing during the quarter.
  • Total restaurant labor costs +2.6% to $525.6M.
  • DRI -3.1% premarket
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