Olive Garden's sales are dropping as customers cut back. Now, it's revamping its menu. [CBS News]
Darden Restaurants, Inc. (DRI)
Last darden restaurants, inc. earnings: 3/19 07:00 am
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Source: CBS News
Now, the company plans to bring back some dishes it discontinued during the pandemic to convince diners to return. The chain is bringing back its steak gorgonzola alfredo and stuffed chicken marsala, two dishes that it stopped serving during the pandemic, according to Ricardo Cardenas, the CEO of Olive Garden parent company Darden Restaurants. It's also expanding its Never Ending Pasta Bowl offer by adding a new sauce — garlic herb — as an option. Cardenas, who spoke during a September 19 earnings call, said the returning dishes will give "guests another reason to visit in the back half of this fiscal year." Olive Garden blamed its sales slump on "the sales softness that impacted the industry in July," according to Darden Chief Financial Officer Raj Vennam on the call. Several restaurant chains have reported struggling to attract inflation-weary customers this year, especially as restaurant prices have surged 28% since January 2020, prior to the pandemic, prompting some to roll
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DRI
News
- Darden Restaurants to Host Fiscal 2025 Second Quarter Conference Call on December 19PR Newswire
- 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
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