Exceptionally bad weather and plans to spin off Red Lobster are pulling down third-quarter net income.
March 03, 2014 at 09:00 AM
1 minute read
The parent company of Olive Garden and Red Lobster said bad winter weather, along with expenses related to its plan to split off its Red Lobster chain, hurt its third-quarter net income.
Darden Restaurants Inc., which is based in Orlando, said Monday that it expects to earn about 82 cents per share for the quarter ended Feb. 23. Analysts on average expected a profit of $1.02 per share, according to FactSet.
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