Darden Restaurants falls after higher labor costs dent profit outlook

Seeking Alpha2021-12-17

Darden Restaurants(NYSE:DRI)reports same-restaurant sales were up 29.3% for the Olive Garden chain in FQ2 and were 31% higher for the LongHorn Steakhouse chain against the soft pandemic comparable. ...

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jyt09
2021-12-18
jyt09
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Eric09876542
2021-12-17
Eric09876542
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The total comp of +34.4% beat the consensus mark of +32.1%.\nLooking ahead, Darden (DRI) sees FY22 revenue of $9.55B to $9.70B vs. $9.54 consensus. EPS of $7.35 to $7.60 is anticipated vs. $7.61 consensus. The lighter EPS than anticipated is due in part to an acceleration of a commitment DRI announced earlier this year to increase the minimum hourly earnings for restaurant team members to $12, which includes income earned through gratuities. 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