Customers arrive at an Olive Garden location in San Antonio, Texas.
Callaghan O’Hare | Bloomberg | Getty Images
Darden Restaurants reported quarterly sales on Friday that fell short of analysts’ expectations as another wave of pandemic food restrictions weighed on sales in the same store.
The shares of the Olive Garden parent company rose less than 1% in premarket trading.
The company reported for the quarter ended November 29th, versus Wall Street’s expectations, based on an analyst survey conducted by Refinitiv:
- Earnings per share: 73 cents compared to 71 cents expected
- Revenue: $ 1.66 billion versus $ 1.69 billion expected
The company reported net income of $ 96 million, or 73 cents per share, for the second quarter, compared to $ 24.7 million, or 20 cents per share, a year earlier. Analysts polled by Refinitiv expected earnings of 71 cents per share.
Net sales declined 19.4% to $ 1.66 billion, falling short of expectations of $ 1.69 billion. Sales of all brands in the same store decreased 20.6% in the quarter.