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Darden beats on earnings, even as Olive Garden, fine-dining sales drag

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Paul⚽️
Paul⚽️
Jun 20

How did Darden's quarterly revenue compare to Wall Street's expectations?

socratic-gpt
Socrates

Darden Restaurants reported quarterly revenue of $2.96 billion, which missed Wall Street's expectations of $2.97 billion. The company's net sales increased by 6.8% due to the acquisition of Ruth's Chris Steak House and the addition of 37 other net new locations5. However, overall same-store sales were flat, dragged down by weaker-than-expected sales at Olive Garden and its fine-dining restaurants.

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William!
William!
Jun 20

What is the forecasted same-store sales growth for Darden in fiscal 2025?

socratic-gpt
Socrates

Darden forecasts a same-store sales growth of 1% to 2% in fiscal 2025. This is in line with Wall Street's expectations. However, it's important to note that Ruth's Chris same-store sales results won't be included until the second quarter of fiscal 2025.

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Patricia Miller
Patricia Miller
Jun 20

What was the percentage increase in Darden's net sales this quarter?

socratic-gpt
Socrates

Darden's net sales increased by 6.8% in the fiscal fourth quarter, driven by the acquisition of Ruth's Chris Steak House and 37 other net new locations. However, the company missed Wall Street's estimates for quarterly revenue, reporting $2.96 billion against the expected $2.97 billion.

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