Why Darden Restaurants Stock Fell Today
Shares of Darden Restaurants (NYSE: DRI) were down 5.2% as of 2:15 p.m. EST Thursday after mixed quarterly results from the parent company of restaurant chains such as Olive Garden, LongHorn Steakhouse, and Eddie V's.
More specifically, Darden's quarterly net sales climbed 4.2% year over year to $2.056 billion, helped by a combination of new restaurant locations and a 2.0% increase in same-restaurant sales. That translated to a 21.7% increase in adjusted earnings (from continuing operations) to $138.4 million, or $1.12 per share. Analysts, on average, were looking for lower earnings of $1.07 per share on slightly higher revenue.
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Source Fool.com
