Darden’s profit falls on slowdown at Red Lobster, LongHorn

ORLANDO Fla. Darden Restaurants Inc. said Tuesday its first quarter sales and earnings missed previous company expectations because of weaker-than-anticipated economic and consumer dynamics.

 

The operator of more than 1,700 casual-dining restaurants said first quarter net profit fell 22.5 percent from a year ago as sales slowed at its Red Lobster and LongHorn Steakhouse chains. Total costs also rose 26 percent year-over-year, or nearly four percent

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