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☆ My family of 4 ate at Olive Garden for the first time, and our $150 meal felt like an excellent value
▼ + stars: | 2024-04-02 | by ( Terri Peters | ) www.businessinsider.com time to read: +1 min

My family of four ate at Italian-American chain restaurant Olive Garden for the first time. Based on the giant portion sizes and quality of the pasta dishes, I'd return to Olive Garden again. AdvertisementSince my family started visiting chain restaurants for the first time about a year ago, we've dined everywhere, from Ruth's Chris Steak House to Bahama Breeze. I've never seen customers lined up just to get a table at any of them until we visited Olive Garden on a Friday night. And, after a great meal, my husband, our two teens, and I found it at Olive Garden.

Persons: —, we've, Chris Steak, I've Organizations: Olive, Service Locations: Olive

☆ Olive Garden's owner says lower-income customers are cutting back while richer diners are eating out more
▼ + stars: | 2024-03-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Darden says lower-income diners are cutting back on its brands while high earners are visiting more. Darden, which owns Olive Garden and LongHorn Steakhouse, said its customer base was reverting to its pre-pandemic makeup. Cardenas had told investors in December that lower-income diners had been "splurging" in the fine-dining sector in recent years but that their orders were getting back to a more normal level. "It doesn't mean that we won't have price points on things over time, but that's kind of more of our everyday low price or around that price," Cardenas said. Darden's second-biggest brand, LongHorn Steakhouse, which has about 570 restaurants, saw a 2.3% jump in same-restaurant sales.

Persons: Darden, —, Chris Steak, Rick Cardenas, Cardenas, Raj Vennam, — Vennam, Chris, Olive Garden's, Darden's, Vennam Organizations: Darden, Olive Garden, LongHorn, Service, Olive Locations: Olive, Texas, California, —

☆ Olive Garden owner Darden beats earnings estimates, hikes guidance as sales climb
▼ + stars: | 2023-12-15 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Darden Restaurants on Friday reported quarterly earnings that beat expectations and raised its annual guidance, helped by sales growth at chains such as Olive Garden and LongHorn Steakhouse. Darden completed its acquisition of Ruth's Hospitality Group, owner of chain restaurant Ruth's Chris Steak House, in June. The company will not include same-store sales from Ruth's Chris Steak House until Darden has owned and operated the restaurant for a 16-month period. "We continued to profitably grow market share again this quarter as we outperformed industry same-restaurant sales and traffic," said Cardenas in a statement. The LongHorn Steakhouse owner also projects $11.5 billion in sales for the fiscal year, as well as 50 to 55 new restaurant openings.

Persons: Chris, Rick Cardenas, Cardenas, Raj Vennam, Darden, Chris Steak Organizations: Darden, Olive Garden, LongHorn, LSEG, Ruth's Hospitality Group, Chris Steak House, CNBC PRO Locations: Olive

☆ Olive Garden parent Darden Restaurants beats earnings estimates, despite weak fine-dining sales
▼ + stars: | 2023-09-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden Restaurants on Thursday reported earnings and revenue that topped analysts' expectations in its first quarter as the owner of Ruth's Chris Steak House. But same-store sales of Darden's fine-dining segment fell more than expected, signaling that consumers are spending less on upscale restaurant meals. The chain reported same-store sales growth of 8.1%, topping StreetAccount estimates of 6.1%. Olive Garden, which accounts for roughly 45% of Darden's revenue, reported same-store sales growth of 6.1%, meeting expectations. Darden's fine-dining restaurants saw same-store sales shrink 2.8%, wider than expectations of a 1.8% decline.

Persons: Chris Steak, Darden, Chris, Eddie V's Organizations: Darden, LSEG, LongHorn Locations: Olive, Pittsburg , California

New York CNN —The Small Business Administration distributed more than $200 billion in potentially fraudulent Covid-19 relief funds, according to a federal watchdog. At least 17% of the $1.2 trillion distributed by the SBA was wasted in fraud, the report found. Most of the fraud apparently happened through the EIDL funds, with the inspector general estimating more than $136 billion of fraudulent activity in that program. While the program successfully helped many companies pay workers during the pandemic, it was plagued by questionable lending and rampant fraud. To date, the agency has recovered nearly $30 billion in funds, according to the report.

Persons: Chris Steakhouse, Trump Organizations: New, New York CNN, Small Business Administration, SBA, Washington, PPP, Los Angeles Lakers Locations: New York

☆ Olive Garden parent earnings beat estimates, fueled by strong LongHorn Steakhouse sales
▼ + stars: | 2023-06-22 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden Restaurants on Thursday reported quarterly earnings that topped Wall Street's expectations, fueled by strong LongHorn Steakhouse sales. The company's same-store sales increased 4%, led by strong performance by LongHorn Steakhouse. The steakhouse chain reported same-store sales growth of 7.1%, topping StreetAccount estimates of 4.9%. But Olive Garden, which accounts for roughly 45% of Darden's sales, reported weaker-than-expected performance for the quarter. Darden's fine-dining segment reported same-store sales declines of 1.9%.

Persons: Gene Lee, Lee, Darden, Olive, Eddie V's, Chris Steak Organizations: Darden, LongHorn, Refinitiv Locations: Olive, Pittsburg , California

☆ Why Mother’s Day is the most hated day in the restaurant industry
▼ + stars: | 2023-05-12 | by ( Alexandra Peers | ) edition.cnn.com time to read: +6 min

New York CNN —Mother’s Day is one of the busiest days for the American restaurant industry, presenting a massive operational challenge to restaurants. In fact, if I die and go to hell, I completely expect it to be Mother’s Day. Mother’s Day presents “an operational challenge,” said Shawn Walchef, owner of five Cali BBQ eateries in the San Diego area. “Your Mother’s Day meal can’t be obnoxiously expensive,” said Derek Axelrod, co-owner of Manhattan’s Upper East Side T bar restaurant. Their Mother’s Day menu will likely be upwards of $100 person, but won’t turn much of a profit, he said.

☆ Some Uber and DoorDash drivers say rich people are the worst tippers, but they can count on the middle class
▼ + stars: | 2023-05-07 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Many gig workers rely on tips to make ends meet, but some say tipping is getting worse. Three gig workers told Insider that people who appear to be wealthy are the worst tippers. Several delivery drivers replied to the story, and while a few related to Jay's experience, most of the workers Insider heard from said that the opposite was true in their experience: Rich people are the worst tippers. Drivers for companies like Uber and DoorDash say they're reliant on tips to make ends meet, but many of them have told Insider that tipping has gotten worse in recent years. When reached for comment, an Uber spokesperson told Insider that tipping has risen considerably for both Uber and Uber Eats over the last few years.

☆ Olive Garden parent Darden Restaurants bets on fine dining with $715 million Ruth's Chris deal
▼ + stars: | 2023-05-04 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Olive Garden owner Darden Restaurants is betting on fine dining with its $715 million acquisition of Ruth's Chris Steak House . The average check at Ruth's Chris is $97, according to Darden's investor presentation. For comparison, the average check at Olive Garden, which accounts for roughly half of Darden's revenue, was $21 in fiscal 2022. Still, Darden executives emphasized that the Ruth's Chris acquisition is a long-term bet, and the decision wasn't made based on the current economic cycle. Cardenas also said third-party data shows that there is little overlap between Ruth's Chris customers and those who frequent The Capital Grill and Eddie V's.

☆ Olive Garden Owner to Buy Ruth’s Chris Steak House
▼ + stars: | 2023-05-03 | by ( Chris Wack | ) www.wsj.com time to read: 1 min

Olive Garden parent Darden Restaurants expects pretax synergies of $5 million to $10 million within the first year after the deal closes. Photo: David Paul Morris/Bloomberg NewsOlive Garden parent Darden Restaurants said it is buying Ruth’s Hospitality Group for $21.50 a share, in an all-cash transaction with an equity value of $715 million. The deal represents a 34% premium to Tuesday’s closing price for Ruth’s Hospitality, and a 32% premium to the 30-day volume weighted average price.

☆ Olive Garden owner Darden Restaurants buys Ruth's Chris Steak House for $715 million
▼ + stars: | 2023-05-03 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants said Wednesday it is buying Ruth's Hospitality Group , the parent company of Ruth's Chris Steak House, for $715 million. Ruth's CEO Cheryl Henry will stay on as president of Ruth's Chris and report to Cardenas. Ruth's Chris was founded in 1965 after Ruth Fertel bought Chris Steak House in New Orleans. The terms of the sale kept her from reusing the name at other locations, so she chose to name new locations Ruth's Chris Steak House. As of Tuesday's close, Darden's stock had risen nearly 10% this year, giving it a market value of $18.4 billion.

☆ The best credit card for each type of purchase
▼ + stars: | 2023-03-20 | by ( Jennifer Yellin | ) edition.cnn.com time to read: +17 min

Since every credit card earns a different amount of points on your common category purchases, the bonus points earned might persuade you to get one credit card over another. Fortunately, there’s a credit card out there for every type of purchase. Let’s check out some of the best credit card to use for all of your spend categories. Best credit cards for each category purchase in 2023While the cards listed here are some of our favorites for their respective categories, they might not be the best for your needs. American Express Gold Card: Best for restaurantsThe Amex Gold card earns 4 points per dollar at restaurants in the U.S. and abroad.

☆ Big city restaurants and bars are missing office workers' spending on Mondays and Fridays
▼ + stars: | 2023-02-24 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +5 min

Commuters arrive into the Oculus station and mall in Manhattan on November 17, 2022 in New York City. According to data collected from June to November, the per-person reduction in spending in New York City was $4,661, followed by $4,200 in Los Angeles and $4,051 in Washington, D.C. In-person work days declined the most, 37%, in Washington, compared with pre-pandemic levels, followed by Atlanta at 34.9% and Phoenix at 34.1%. The Bureau of Labor Statistics found in a study that increased remote work results in a reduction in foot traffic for urban centers. There was a reduction in remote work in January to about 27% from 29%, though he predicts remote work levels will not drop below 25% in the near future.

☆ Sundance Movies: Brett Kavanaugh and Steph Curry Docs, "Cat Person"
▼ + stars: | 2023-02-06 | by ( Alison Brower | ) www.businessinsider.com time to read: +7 min

The Sundance Film Festival was back in person for the first time since 2020. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. Asked about the film's aspect ratio in an audience Q&A, Jalali said, "It was prettier that way." The bulk of the films I saw were more commercial, and four of them centered on relationships. And then there was "Cat Person," based on a 2017 New Yorker story about dating by Kristen Roupenian.

☆ First-time homebuyers face a lose-lose scenario
▼ + stars: | 2023-01-29 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +5 min

On the agenda today:But first: Our LA bureau chief Alison Brower has been at the Sundance Film Festival this week. Brooke Shields attends the 2023 Sundance Film Festival "Pretty Baby: Brooke Shields" Premiere at Eccles Center Theatre on January 20, 2023 in Park City, Utah. Amy Sussman/Getty ImagesIt was impossible not to feel optimistic about the state of independent film at the opening weekend of the 39th Sundance Film Festival in Park City, Insider's Alison Brower writes. The party scene was as lively as ever, anchored by HBO Documentary Films' annual shindig at Ruth's Chris Steak House. Many experts worry that without some type of major intervention, the obstacles facing first-time homebuyers will continue to get worse for years to come.

☆ The Sundance Film Festival stirs buzz, draws A-list stars, and screens movies that get you talking, but it can't hide the crisis facing independent filmmakers.
▼ + stars: | 2023-01-29 | by ( Alison Brower | ) www.businessinsider.com time to read: +6 min

The Sundance Film Festival was back in person for the first time since 2020. A-list stars like Anne Hathaway and Jason Momoa were present to promote their buzzy films. It was impossible not to feel optimistic about the state of independent film at the opening weekend of the Sundance Film Festival. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. At an event like Sundance, even amid some hand-wringing over the future, the excitement is contagious.

Note that credit card lenders may use many different variations of credit score models when considering your application. Note that credit card lenders may use many different variations of credit score models when considering your application. Annual fee: $95Other benefits: The card also offers:Read more: Chase Sapphire Preferred Credit Card reviewWorld and World Elite Mastercards offer Lyft creditsMastercard World and World Elite credit cards provide a $5 Lyft credit each calendar month. Read more: Everything you need to know about Mastercard World Elite benefitsCredit cards for Uber and Lyft — Frequently Asked Questions (FAQ)What is the best credit card for rideshare expenses? The best credit card for rideshare expenses isn't necessarily the best credit card for you.

☆ Amex Platinum card review: The best card for airport lounge access and premium travel perks, with a 100,000-point welcome bonus offer and tons of valuable new benefits
▼ + stars: | 2022-06-27 | by ( Sarah Silbert | Read More | Read Less | ) www.businessinsider.com time to read: +48 min

More Information Earn 100,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. The Platinum Card comes with a welcome offer of 100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Because it's a premium rewards card, the Platinum Card is harder to get approved for than some other popular cards.

The American Express® Gold Card and American Express® Business Gold Card have increased welcome offers. Amex has refreshed the American Express® Gold Card and American Express® Business Gold Card recently, adding lucrative new benefits and elevating their welcome bonuses. Amex Gold vs Amex Business Gold card comparisonAmerican Express® Gold Card American Express® Business Gold Card Annual fee $250 $295 Welcome bonus offer 60,000 points after you spend at least $4,000 in your first 6 months of card membership 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases within the first 3 months of card membership. The American Express® Gold Card charges $250 per year, while the American Express® Business Gold Card charges $295 per year. Bottom lineApart from deciding whether you need a personal card or one for business, if you're trying to decide between the revamped American Express® Gold Card and the American Express® Business Gold Card, you have a few key factors to take into consideration.

There are upsides to both the Amex Gold and Amex Green cards. The American Express® Gold Card is also worth considering if the Amex Green Card caught your eye. Still, the fact that the updated Amex Green card is new on the scene doesn't necessarily make it the best. Read more: Amex Gold card review »LoungeBuddy credits with the Amex Green cardThe Amex Green Card also gives you up to $100 in LoungeBuddy credits each year. Read more: Amex Green card review »Benefits shared by both cardsThe Amex Gold Card and Amex Green Card share a handful of benefits that can help you get more value in exchange for your annual fee.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Those five cards are the Chase Sapphire Reserve®, the American Express® Gold Card , the Chase Freedom Unlimited®, the Chase Freedom® , and the Ink Business Cash® Credit Card. Chase Freedom Unlimited®Chase Freedom® and Chase Freedom Unlimited® are both listed as cash back cards from Chase. Chase Freedom®One of my oldest credit card accounts is Chase Freedom®, not to be confused with its cousin Chase Freedom Unlimited®. Ink Business Cash® Credit CardTo round out my Costanza Wallet, I carry the Ink Business Cash® Credit Card card.

The Amex Platinum Card is the more premium of the two cards — it has a $695 annual fee compared to a $250 annual fee for the Amex Gold Card. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Amex Platinum versus the Amex Gold: Bonus categoriesThe Amex Platinum cardThe Amex Platinum Card earns a massive 5 points per dollar spent on airfare, as long as you book directly with the airline or through Amex Travel, and on prepaid hotel stays booked through Amex Travel. The Amex Platinum cardThe Amex Platinum Card has one of the highest annual fees you'll find in a mainstream rewards card — $695. Other card benefitsThe Amex Platinum cardAdded benefits is where the Amex Platinum Card really shines.

Persons: Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, you'll, that's, Chris Steak Organizations: American Express, American, Delta, Marriott, you.Amex, Saks Fifth, X, Resorts, Hilton, Express, Saks, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, TSA, Global, Shipping, U.S, Milk Bar, Amex, Card, Target, Virgin Atlantic, All Nippon Airways, Aer Lingus, Air, Air France, KLM, Alitalia, ANA, Cathay, British Airways, Etihad, Hawaiian Airlines, JetBlue, Singapore Airlines, Virgin, Sky, Space, Fine Hotels, TSA PreCheck, Amazon Locations: Hulu, U.S, Japan, AeroMexico, Air Canada, Cathay Pacific, Delta, El Al, Emirates, Iberia, Hawaiian

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