Darden tries to revive Olive Garden sales
Darden Restaurants Inc. is struggling to revive sales at its flagship Olive Garden and Red Lobster restaurants. A key sales figure fell at the chains during the latest quarter, and the company issued a profit forecast that fell short of Wall Street expectations.
The company has been reworking the menu and pricing to reverse declining sales at Olive Garden, which is its biggest chain and accounts for almost half its revenue. Darden attributed the drop in part to its “Taste of Tuscany” promotion, which it said didn’t emphasize value enough at a time when diners are watching their budgets.
