Darden posts loss as Olive Garden same-restaurant sales fall again
Reuters
Published Sep 12, 2014 07:22AM ET
Darden posts loss as Olive Garden same-restaurant sales fall again
(Reuters) - Darden Restaurants Inc (N:DRI) reported a quarterly loss after same-restaurant sales fell again at its Olive Garden chain, which contributes about two-thirds to profit.
Darden reported a net loss of $19.3 million, or 14 cents per share, from continuing operations for the first quarter ended Aug. 24 compared with a profit of $42.2 million, or 32 cents per share, a year earlier.
Revenue rose 4 percent to $1.59 billion.
Same-restaurant sales at its Olive Garden chain fell 1.3 percent, but rose 2.8 percent at its LongHorn Steakhouse restaurants.
(Reporting by Ramkumar Iyer in Bangalore and Lisa Baertlein in Los Angeles; Editing by Kirti Pandey)
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