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Top related persons:
Chris Steak - 2 Darden - 2 Eddie V's - 2 Chris - 1 Gene Lee - 1 Lee - 1 Olive - 1
Top related locs:
Olive Pittsburg , California
Top related orgs:
Darden - 2 LongHorn - 2 LSEG - 1 Refinitiv - 1

Search resuls for: "Eddie V's"


5 mentions found


☆ 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
☆ 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
☆ 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 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.
☆ CEOs send mixed signals about consumer spending as split emerges between income levels
  + stars: | 2022-07-26 | by ( Robert Hum | ) www.cnbc.com   time to read: +5 min
If the signals you're getting about the U.S. consumer seem mixed, there could be a very good reason for that: They are. In recent earnings conference calls, CEOs have been presenting more evidence that consumer spending patterns are bifurcating. Despite rampant inflation, the high-end consumer is remaining strong, but the low-end consumer is starting to buckle under the pressure. That comment came after the company, which owns brands such as Louis Vuitton and Tiffany, reported earnings Tuesday. On Tuesday, the company reported better-than-expected profit growth as price increases on its menu helped offset rising costs.
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