Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Darden Restaurants sales disappoint as Olive Garden, LongHorn Steakhouse miss expectations

by admin March 21, 2025
March 21, 2025
Darden Restaurants sales disappoint as Olive Garden, LongHorn Steakhouse miss expectations

Darden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts’ projections.

Shares of the company were up in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier.

Excluding costs related to its acquisition of Chuy’s, Darden earned $2.80 per share.

Net sales rose 6.2% to $3.16 billion, fueled largely by the addition of Chuy’s restaurants to its portfolio.

Darden’s same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates.

Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden’s portfolio, reported underwhelming same-store sales growth. Olive Garden’s same-store sales rose 0.6%. Analysts were anticipating same-store sales growth of 1.5%. And LongHorn’s same-store sales increased 2.6%, missing analysts’ expectations of 5% growth.

Darden’s fine dining segment, which includes The Capital Grille and Ruth’s Chris Steak House, reported same-store sales declines of 0.8%.

The last segment of Darden’s business, which includes Cheddar’s Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter.

For the full year, Darden reiterated its forecast for revenue of $12.1 billion. It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share. Its prior forecast was $9.40 to $9.60 per share.

Darden’s fiscal 2025 outlook includes Chuy’s results, but the Tex-Mex chain won’t be included in its same-store sales metrics until the fiscal fourth quarter in 2026.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Art created autonomously by AI can’t be copyrighted, federal appeals court rules
next post
Silver Crown Confirms Receipt of Royalty Payments and Provides Update

Related Posts

Federal Reserve holds interest rates steady as consumer...

February 1, 2024

The ‘funflation’ effect: Why Americans are spending on...

June 27, 2024

Listings for Stanley tumblers are still attracting dozens of...

January 25, 2024

Abortion bans and anti-LGBTQ laws are complicating business...

October 22, 2023

TGI Fridays to close 36 ‘underperforming’ locations across...

January 6, 2024

Treasury Dept. will not enforce ownership information reporting...

March 4, 2025

Former Disney CEO Bob Chapek breaks silence, says...

March 25, 2024

Boeing’s Starliner losses top $2 billion after spacecraft...

February 6, 2025

Baby boomers and their cash are driving the...

July 9, 2023

Hundreds of Alaska Airlines and United flights canceled...

January 10, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Lithium Market Update: Q3 2025 in Review

    • Despatch of SPP Offer Documents

    • Crypto Market Update: FalconX to Buy 21Shares, Senate Democrats Call Out Trump Envoy

    • Apollo Silver

    • Blackrock Silver Commences Phase 2 Hydrology Program, Geotechnical Evaluation and Seismic Survey on the Tonopah West Project

    Categories

    • Business (1,401)
    • Investing (3,062)
    • Politics (3,699)
    • Stocks (1,828)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved