Darden Restaurants Lifts Sales Forecast, Beats Quarterly Estimates on Casual Dining Demand
Darden Restaurants forecast annual same-store sales above estimates after strong quarterly results on Friday, banking on demand driven by food delivery and advertising efforts at its casual dining chains such as Olive Garden.
Shares of the company rose about 3% in premarket trading after the company also announced a new $1 billion share repurchase program.
Casual dining and fast casual restaurant chains, including Olive Garden and Shake Shack, have benefited from menu innovations and promotions to entice customers, offsetting the impact...
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