Olive Garden raising menu prices again [Yahoo! Finance]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Yahoo! Finance
Darden CFO Raj Vennam told analysts on the company's earnings call Thursday that Olive Garden menu prices for this year are "to be more in line with inflation" in the 2.5% to 3% range, spread over the next four quarters. Vennam said Olive Garden has kept pricing "very modest" over the past five years, under-pricing by roughly 20% compared to the overall consumer price index (CPI), which he said rose by close to 23% during that same time frame. "We feel like we've done a lot of work on keeping prices low and we're going to continue to do that," he reiterated, noting that Olive Garden raised menu prices by around 1% last quarter. TRUMP'S TAX-FREE TIPS PROPOSAL WOULD BE ‘MASSIVE' FOR RESTAURANTS, SERVERS: JON TAFFER Olive Garden's same-store sales have fallen for two consecutive quarters, dropping 1.5% last quarter and 1.8% in the one prior. However, Darden's earnings beat Wall Street expectations thanks in part to stronger sales at its LongHorn Steakhouse restaurants. READ ON
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MCD
Earnings
- 7/29/24 - Miss
MCD
Sec Filings
- 9/27/24 - Form 144
- 9/27/24 - Form 4
- 9/25/24 - Form 4
- MCD's page on the SEC website