Analyst: Promotion fuels Red Lobster traffic, comps

With Darden Restaurants Inc. poised to report fourth quarter earnings next week, a securities analyst said Red Lobster’s new $15 Seafood Feast limited time offer has caused a bump in wait times and traffic this month at the casual-dining seafood chain.

Jeff Omohundro, a Wells Fargo senior analyst in Richmond, Va., wrote that the performance of Red Lobster’s four-course menu promotion has strengthened his outlook for Red Lobster’s Orlando, Fla.-based parent comp

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