Darden Restaurants reported a fiscal third-quarter net income of $323.4 million, or $2.74 per share. This was an increase from the previous year’s $312.9 million, or $2.60 per share. Excluding acquisition costs, earnings reached $2.80 per share. Net sales rose by 6.2% to $3.16 billion, largely due to the addition of Chuy’s restaurants. However, same-store sales only grew by 0.7%, falling short of the 1.7% analysts had expected. Executives attributed this to harsh winter weather. When excluding weather impacts, all four segments of Darden showed growth. Consumers earning less than $50,000 spent less at casual-dining restaurants. Olive Garden’s same-store sales increased by just 0.6%, below the anticipated 1.5%. LongHorn Steakhouse saw a 2.6% rise, missing the 5% growth forecast. Darden’s fine dining segment, including The Capital Grille and Ruth’s Chris Steak House, experienced a 0.8% decline in same-store sales. The segment covering Cheddar’s Scratch Kitchen and Yard House saw a 0.4% drop. For the full year, Darden expects revenue of $12.1 billion and adjusted earnings per share between $9.45 and $9.52.
247AG
@247dotAg
·
2h Continued dryness and high winds, will keep the threat of monster dust storms and high fire risks alive and will until rains come to wash them away.
Commodity Wx Group
@commoditywx
·
23h Early April U.S. pattern evolution may depend on strength of tropical forcing (MJO) as it rolls through phases 8, 1, and 2 with negative global wind anomalies.
Andrew Shearer
@Drewshearer444
·
Mar 16 1/ Although there’s a trough this week, a much weaker surface cyclone, limited moisture, and poor instability will limit the overall severe potential for this system. A more significant threat with it will likely be winter weather on the back side of this robust trough.
DTN/Progressive Farmer
@dtnpf
·
19h Large portions of the U.S. Plains have had no more than 20% of average precipitation in the past 30 days.
The dryness, along with strong winds, has been stressful to winter wheat coming out of dormancy: https://dtn.link/349s3e
247AG
@247dotAg
·
4h A meaningful percentage of the U.S. Plains have had less than 20% of average precipitation in the past 30 days. Dryness and strong winds have been extremely stressful to large portions of the winter wheat that is beginning to come out of dormancy.
National Journal
@nationaljournal
·
Mar 14 Degraded weather forecasts and spotty seasonal outlooks for droughts, wildfires, and floods. Delayed warnings of tsunami threats and power outages, and GPS failures due to space weather. Deep cuts to a key federal science agency could pose significant harm, advocates warn
Read
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
