Darden Restaurants Inc. reported Thursday a 41.1-percent decline in profit for the second quarter ended Nov. 24, saying it plans to spin off or sell its 705-unit Red Lobster brand. Clarence Otis, chairman and chief executive of the Orlando, Fla.-based casual-dining operator, said industry conditions in the quarter “remained weaker than we had hoped.” Darden owns and operates the Olive Garden, Red Lobster, LongHorn Steakhouse, The Capital Grille, Bahama Breeze, Eddie ...
Register to view this article
It’s free but we need to know a little about you to continually improve our content.
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to NRN we ask that you register now.We promise it will only take a few minutes!
Questions about your account or how to access content?