Darden

A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois.Scott Olsen | Getty ImagesDarden Restaurants on Thursday reported mixed quarterly results as the Olive Garden owner's same-store sales shrank for the first time since the pandemic.Shares of the company fell more than 4% in premarket trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:Earnings per share: $2.62 adjusted, meeting…

An Olive Garden restaurant in Fremont, California, US, on Thursday, Sept. 14, 2023. Darden Restaurants Inc. is scheduled to release earnings figures on September 21.Bloomberg | Getty ImagesDarden Restaurants on Friday reported quarterly earnings that beat expectations and raised its annual guidance, helped by sales growth at chains like Olive Garden and LongHorn Steakhouse.Here's what the company reported for its fiscal second quarter ending Nov. 26 compared with what Wall Street was expecting, based on a survey of…

Customers enter an Olive Garden restaurant in Pittsburg, California, US, on Friday, Dec. 9, 2022. David Paul Morris | Bloomberg | Getty ImagesDarden Restaurants on Thursday reported quarterly earnings that topped Wall Street's expectations, fueled by strong LongHorn Steakhouse sales.But investors were disappointed by the company's forecast for fiscal 2024. Darden is anticipating adjusted earnings per share from continuing operations of $8.55 to $8.85, but analysts surveyed by Refinitiv were expecting earnings of $8.79 per…

A Ruth's Chris Steak House in Miami, May 3, 2023.Joe Raedle | Getty Images News | Getty ImagesOlive Garden owner Darden Restaurants is betting on fine dining with its $715 million acquisition of Ruth's Chris Steak House.The company's announcement on Wednesday that it's adding another fine-dining restaurant to its portfolio surprised some. TD Cowen analyst Andrew Charles wrote in a note to clients he was expecting the company to target another casual-dining chain, such as First Watch Restaurant Group.But Darden executives…

A pedestrian wearing a protective mask walks past a Ruth's Chris restaurant in Washington, D.C., on Monday, April 20, 2020.Andrew Harrer | Bloomberg via Getty ImagesDarden Restaurants said Wednesday it is buying Ruth's Hospitality Group, the parent company of Ruth's Chris Steak House, for $715 million.The deal values Ruth's at $21.50 per share in an all-cash transaction. The steakhouse has more than 150 locations worldwide and generated $505.9 million in revenue in 2022.Ruth's shares spiked nearly 34% in premarket…

Customers enter an Olive Garden restaurant in Pittsburg, California, US, on Friday, Dec. 9, 2022.David Paul Morris | Bloomberg | Getty ImagesDarden Restaurants on Thursday raised its revenue outlook for fiscal 2023 for the second consecutive quarter after reporting results that showed growth across the board.For its 2023, Darden now expects sales of $10.45 billion to $10.5 billion, up from its prior range of $10.3 billion to $10.45 billion.Darden CEO Rick Cardenas credited the quarter's strong sales growth to its strategy…

Darden DRI -2.07% Darden DRI -2.07% Restaurants Inc. said sales rose 9.4% in its latest quarter as diners continue to eat out, while profit edged lower as the restaurant company faced soaring costs for food and labor. The owner of Olive Garden, LongHorn Steakhouse and other sit-down restaurants on Friday also raised its guidance for its current fiscal year.  The Orlando, Fla.-based…

Check out the companies making headlines before the bell:Accenture (ACN) – The consulting firm reported a better-than-expected quarterly profit and revenue, but gave a weaker-than-expected revenue forecast for the current quarter. Accenture pointed to IT spending cuts by corporate customers and a negative impact from the stronger dollar. Nonetheless, Accenture gained 1% in premarket trading.Darden Restaurants (DRI) – The parent of Olive Garden and other restaurant chains fell 2.5% in the premarket after reporting in-line…

An order of breadsticks from a Darden Restaurants Inc. Olive GardenGetty ImagesDarden Restaurants on Thursday reported mixed quarterly results but stood by its outlook for fiscal 2023, predicting inflation will cool in coming quarters.The parent company of Olive Garden and LongHorn Steakhouse said net sales for the fiscal first quarter rose 6.1% to $2.45 billion, which was short of Wall Street's expectations. Darden has tried to draw customers by pricing below its rivals and limiting how much of its rising costs it passes…

Darden DRI -4.49% Restaurants Inc. posted a 16.4% drop in quarterly profit as higher sales at Olive Garden and the company’s other restaurants failed to offset rising food and labor costs. Darden, which also operates chains such as LongHorn Steakhouse and Capital Grille, on Thursday said sales rose 6.1% in its fiscal first quarter to $2.45 billion, just under the $2.47 billion Wall Street analysts had been expecting.…