Darden 2Q profit drops 41.1%

Darden 2Q profit drops 41.1%

Company says it will spin off, sell Red Lobster

Darden Restaurants Inc. reported Thursday a 41.1-percent decline in profit for the second quarter ended Nov. 24, saying it plans to spin off or sell its 705-unit Red Lobster brand.

Clarence Otis, chairman and chief executive of the Orlando, Fla.-based casual-dining operator, said industry conditions in the quarter “remained weaker than we had hoped.”

Darden owns and operates the Olive Garden, Red Lobster, LongHorn Steakhouse, The Capital Grille, B

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