Darden Restaurants, owner of Olive Garden and LongHorn Steakhouse, experiences its first same-store sales decline since the pandemic, with lower-income customers pulling back. The company plans to price below inflation in the long term, amid muted sales projections indicating a shift in consumer behavior.
Muted sales projections from the company behind Olive Garden are a sign Americans may be done gorging on restaurants. The Fed will be delighted, @JonathanJLevin says https://t.co/w7UdrLTL3n via @opinion
Muted sales projections from the company behind Olive Garden are a sign Americans may be done gorging on restaurants. The Fed will be delighted, @JonathanJLevin says https://t.co/Ta77BHSlOI
.@SamuelRines adding Darden (of Olive Garden, LongHorn & Ruth's Chris Steak House & more) to the steady melt in some* sectors away from "PoV" and back to precovid mode? "on the pricing side...our plan is still over the long term to price below inflation." https://t.co/gPmtlFd2Wd https://t.co/IJ6ruttVJE
Olive Garden parent Darden Restaurants sees lower-income consumers pulling back https://t.co/AoqbneknAv
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Olive Garden, LongHorn Steakhouse Owner Darden Warns Lower Income Customers Are Pulling Back https://t.co/4Q7tiDJacE
🇺🇸 Darden posts first same-store sales decline since pandemic, offset by Ruth's Chris acquisition https://t.co/MGYqARdTR8