The World Cup Hurt Darden Restaurants' Recent Quarter
Dow Jones
Sep 24
0940 ET - The World Cup was a net negative for Darden Restaurants, CFO Raj Vennam says on a call with analysts. The company's Olive Garden and LongHorn Steakhouse brands aren't really restaurants that people go to watch sporting events, and as a result, traffic trends took a hit. There was one bright spot, though. Darden's Yard House banner--which serves classic American fare and has over a hundred beers on tap--is a natural gathering place for sporting events, CEO Rick Cardenas says. Yard House's same-restaurant sales climbed 10% during the recent quarter. Darden is off 2.3% in early trading..
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