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Gene Lee says economy appears ‘very strong,’ but data show impact on confidence
Uncertainty seems to be impacting consumer confidence and is pressuring brands to provide even more compelling guest experiences and hone value messaging, according Gene Lee, president and CEO of Darden Restaurants Inc.
Orlando, Fla.-based Darden, parent to Olive Garden, LongHorn Steakhouse and six other casual-dining brands, posted same-store sales growth of 0.9% in the first quarter ended Aug. 25, but, on a conference call Thursday, Lee said, “I personally believe that there's uncertainty entering into the consumer. And it's impacting their confidence.”
While the “the backdrop appears to be very strong for the consumer,” Lee said, with wage growth and high employment rates that have historically been good for restaurant sales and profit,...
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