Olive Garden parent misses quarterly sales and profit estimates
DRI•Darden Restaurants reported first-quarter sales of $3.2 billion, below the $3.21 billion estimate, and adjusted profit of $2.05 per share, below the $2.06 estimate.
1. Quarterly results
Darden Restaurants missed first-quarter sales and profit estimates as budget-conscious diners curtailed restaurant spending and prioritized value-focused purchases. Sales were $3.2 billion, compared with analysts’ estimate of $3.21 billion, while adjusted profit from continuing operations was $2.05 per share, below the $2.06 estimate.
