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Darden Restaurants (DRI) lowers its outlook for Q2 EPS to a range of $0.25 to $0.26, well-below...

Darden Restaurants (DRI) lowers its outlook for Q2 EPS to a range of $0.25 to $0.26, well-below the consensus mark of analysts calling for $0.46. The company says Hurricane Sandy impacted results by a penny per share and transaction costs from the purchase of Yard House will cut a nickel per share off profits, but the bulk of the downward revision has to be considered weakness with sales at Red Lobster, Olive Garden and LongHorn Steakhouse. DRI -8.8% premarket.
Comments (2)
  • Sandy! Lol
    4 Dec 2012, 10:38 AM Reply Like
  • There were plenty of warning signals popping up on SA over the past couple months.

     

    Greatest red flag was when my wife and I stopped by an Olive Garden last summer. Meal was terrible. They didn't even try to hide their efforts at cost cutting.

     

    Things will get worse as ObamaCare kicks in, and likely another minimum wage hike in 2013. Buying opportunity will occur, but at much lower levels than this.
    4 Dec 2012, 11:22 AM Reply Like
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