While Olive Garden’s same-store sales grew 1.9 percent in the first quarter, it’s 12th consecutive quarter of positive growth, it fell short of Wall Street’s expectation of 2.5 percent, according to Street Account.
Darden’s Bahama Breeze also saw same-store sales that were below estimates. However, same-store sales at The Capital Grille and Longhorn steakhouse exceeded analysts’ expectations.
There were no comparisons available for Eddie V’s, which saw growth of 2.5 percent; Yard House, which fell 0.4 percent; or Seasons 52, which was down 2.2 percent in the quarter.
“Our focus on simplifying operations and providing an excellent value for our core consumer continues to yield strong sales growth,” Gene Lee, Darden’s CEO said in a statement. “The teams continue to make appropriate investments in their brands and manage costs effectively. These actions have enabled Darden to outperform the industry.”