DRI Jul 2024 145.000 put
| Previous close | 0.8500 |
| Open | 0.8000 |
| Bid | 0.0000 |
| Ask | 0.0000 |
| Strike | 145.00 |
| Expiry date | 2024-07-19 |
| Day's range | 0.6500 - 1.3500 |
| Contract range | N/A |
| Volume | |
| Open interest | N/A |
- Yahoo Finance Video
Darden Restaurants beats earnings, but this analyst is cautious
Shares of Darden Restaurants (DRI) are rising following the company's better-than-expected earnings report, surpassing both revenue and profit estimates. Despite this beat, Guggenheim Securities Senior Analyst Gregory Francfort joins Catalysts to discuss his decision to trim estimates for the company's upcoming quarter. Francfort acknowledges Darden's position as the leading full-service restaurant chain but points out that "they continue to see a little bit of pressure on the low-end consumer." He also notes a shift in customer behavior, with "less check management" occurring, leading him to conclude that "there is a mixed read on the consumer" due to this dynamic. Over the past few years, Darden has maintained prices approximately 6-7% below its competitors, according to Francfort. However, this pricing strategy hasn't translated into significant traffic growth as consumers grappled with inflationary pressures. While the most recent quarter showed modest improvement in this trend, Francfort maintains a cautious outlook on the company's forward prospects. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
CNN BusinessWhy Olive Garden doesn’t want to give discounts
Restaurant chains from Applebee’s to McDonald’s have in recent months clocked a troubling trend: Customers watching their budgets are spending less, and dining out less often. So they’ve come up with a solution — offer meal deals and discounts to bring people back.
Barrons.comOlive Garden Parent Expects Sales to Improve Gradually in FY2025
Olive Garden parent Darden Restaurants is guiding for same-store sales to rise 1% to 2% in F2025, an outlook that accounts for recent softness in eating out and assumes that underlying traffic trends will gradually improve throughout the year, CFO Raj Vennam says on a call with analysts. Given those pressures, Darden has more variability around its sales views, but higher levels of confidence in its guidance for earnings to rise to $9.40 to $9.60 a share this year, the CFO says.
