Diners are skipping restaurants and making more meals at home as inflation trend inverts [Yahoo! Finance Canada]
Darden Restaurants, Inc. (DRI)
Last darden restaurants, inc. earnings: 3/19 07:00 am
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Source: Yahoo! Finance Canada
Meanwhile food producers are benefitting from more palatable prices in grocery store aisles. Inflation has been easing broadly for more than a year now, and it's been cooling faster for grocery items since the middle of the year. The current trend marks a reversal from previous years when grocery inflation outpaced restaurants as food producers raised prices, often fattening their profit margins. The shift has been weighing on McDonald's, Olive Garden owner Darden Restaurants, and similar chains. Orlando-based Darden reported a 1.1% sales drop at restaurants open for at least a year. The decline was a more severe 2.9% at the Olive Garden chain . July was especially weak. McDonald's reported a 1.1% drop for that same sales measure during its second quarter, compared with an 11.7% jump a year prior. “You are seeing consumers being much more discretionary as they treat restaurants,” said McDonald's CEO Christopher J. Kempczinski, in a call with analysts following the earnings r
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DRI
News
- Darden Restaurants, Inc. (NYSE: DRI) had its "equal weight" rating re-affirmed by analysts at Stephens. They now have a $164.00 price target on the stock.MarketBeat
- Chuy's headquarters moving to Florida after Darden acquisition [Yahoo! Finance]Yahoo! Finance
- Darden Restaurants Completes Acquisition of Chuy's Holdings, Inc.PR Newswire
- Darden Restaurants' (NYSE:DRI) Returns On Capital Are Heading Higher [Yahoo! Finance]Yahoo! Finance
- Four Corners Property Trust Delivered Solid Results And Continues Robust Investment Activity [Seeking Alpha]Seeking Alpha
DRI
Earnings
- 9/19/24 - Miss
DRI
Sec Filings
- 10/17/24 - Form 11-K
- 10/11/24 - Form 8-K
- 10/8/24 - Form 4
- DRI's page on the SEC website