Darden's Sales Climb Even as Lower-Income Diners Stay Home
Darden Restaurants(DRI) PYMNTS·2024-03-22 02:13
Olive Garden owner Darden has seen a drop in lower-income diners patronizing its restaurants.The company, which also owns Longhorn Steakhouse, on Thursday (March 21) reported earnings that showed sales up 6.8% for the quarter, driven primarily by its recently-acquired Ruth’s Chris Steakhouse chain.However, a recurring theme during the company’s earnings call was pullback among lower-income consumers.“We’re clearly seeing consumer behavior shifts,” CEO Rick Cardenas said, noting that transactions from househ ...