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☆ 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

☆ Insider Today: Side hustles' turning point
▼ + stars: | 2023-09-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

A new study from Morgan Stanely makes the case that generative AI will enable people to work multiple jobs, writes Insider's Alistair Barr. In the US alone, multi-earning has increased 11% over the past year, largely thanks to the rise of generative AI tools like ChatGPT. New research from EY found that nearly 40% of Gen Zers had a side hustle to earn extra money. Adding fuel to the fire is the fact bosses don't seem to care if their employees are working multiple jobs, albeit with one caveat. To be sure, executives' acceptance of employees working multiple jobs might be short-lived.

Persons: Randy Rush, Morgan Stanely, Alistair Barr, Morgan Stanley, EY, Gen Zers, Zers, Gen, Z, Alex Wong, we're, It's, Peter Brown, alums, —, Brooks Kraft, Cassidy Hutchinson, Rudy Giuliani, Joe Biden, Volodymyr Zelenskyy, Mike Minnis, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Fed, cofounders, Renaissance Technologies, Tesla, Bugatti, Brooks Kraft LLC, Getty, Netflix, United Nations General Assembly, Darden, Olive Garden, LongHorn Locations: Wall, Silicon, Asia, Scottish, —, Europe, Americas, Olive, New York City, San Diego, London

☆ Activist Starboard has a variety of strategies to build value at Bloomin’ Brands
▼ + stars: | 2023-09-09 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Its restaurant portfolio includes Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse & Wine Bar. But a better opportunity might be their hidden gem in the 150 Outback restaurants in Brazil. As for Starboard, the firm has had extensive success at both Papa John's and Darden, but in strikingly different ways. Papa John's was a very amicable engagement in which Starboard was invited onto the board and worked with management to create extensive shareholder value. If management is smart, they will view Darden as a warning, and Papa John's as the opportunity.

Persons: David C, George, Bloomin, outperforming Darden, Jeff Smith, Papa John's, Chris, Del Frisco's, accretive, Jana Partners, John P, Gainor, Lawrence V, Jackson, Jana, Papa, Darden, Ken Squire Organizations: Brands, Wine, Papa John's, Darden, Texas Roadhouse, LongHorn Steakhouse, Texas, Fogo De Chao, 13D Locations: United States, BLMN, Fogo De, Brazil

☆ Invasive species cost the world $423 billion every year and are causing environmental chaos, UN report finds
▼ + stars: | 2023-09-05 | by ( Helen Regan | ) edition.cnn.com time to read: +13 min

Scroll through the gallery to see more of the planet's most problematic invasive species. Sarefo / Wikimedia Commons In pictures: Invasive species around the world Prev Next‘Prevention, prevention, prevention’Along with invasive species, other key drivers of biodiversity loss include destruction of land and sea habitats, exploitation of organisms, climate change and pollution. As well as flammable invasive plants sparking and spreading wildfires, climate change is enabling invasive species to move north – even to remote areas such as high mountains, deserts and frozen tundra. Preventing the arrival of new species into new regions is the best way to manage threats from invasive species, according to the report. For invasive species that have already taken hold, eradication has been a useful tool, especially on islands, according to the report.

Persons: ”, Helen Roy, ” Roy, David Gray, Peter Stoett, Anibal Pauchard, Ian Hitchcock, Starling, MENAHEM KAHANA, Phil Mislinski, Jeff J Mitchell, SANJAY KANOJIA, MUNIR UZ ZAMAN, ” Stoett, Stoett, –, ” Pauchard Organizations: CNN, United Nations, UN, Services, billabong, Nile Virus, Ontario Tech University, Chile’s Institute of Ecology, Pacific, World Wildlife Fund, US Department of Agriculture, USA, Studies, New Zealand Government, European, Starlings, AFP, Getty, North, Wikimedia Locations: Darwin, Australia, Africa, Caribbean, Guam, North America, Hawaii, Maui, Antarctica, Pacific, North, South America, Azov, China, Japan, Europe, Bermuda, New Zealand, New York, USA, Australasia, South Africa, United States, AFP, East Africa, Western Asia, Americas, Kenya, India, Puerto Rico, Kunming, Montreal

☆ This Steer Rides Shotgun
▼ + stars: | 2023-08-31 | by ( Michael Levenson | More About Michael Levenson | ) www.nytimes.com time to read: 1 min

Let this be a warning to those of you who long to hit the open road with a 2,200-pound steer riding shotgun: Observe all traffic laws, especially when passing through Norfolk, Neb. Lee Meyer, 63, a retired machinist, learned that lesson on Wednesday. For seven years, Mr. Meyer has been chauffeuring his 2,200-pound Watusi-longhorn mix named Howdy Doody with its horns and head exposed to the open air in a customized Ford Crown Victoria with the license plate “Boy Dog.”But he had never been stopped by the police, he said, until Wednesday morning as he drove Howdy Doody into Norfolk from his 15-acre ranch south of Neligh, about 35 miles away. Mr. Meyer had just turned off the highway on what was supposed to be a test run in preparation for Howdy Doody’s appearance at Norfolk’s Oktoberfest when he noticed a police car behind him had turned on its flashing lights.

Persons: Lee Meyer, Meyer, Howdy Doody, Howdy Doody’s Organizations: Ford Crown Victoria Locations: Norfolk, Neb, Neligh

☆ I tried the same steak at Texas Roadhouse and LongHorn and can see why the younger brand is more popular — even though it didn't have the better meal
▼ + stars: | 2023-08-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

LongHorn Steakhouse and Texas Roadhouse are two chains serious about serving the best meat. I visited both chains to see how each handles the ultimate steak lover's cut, the bone-in rib eye. Even though LongHorn delivered the better meal this time, I'd sooner go back to Texas Roadhouse. Look no further than the booming growth of national chains like LongHorn Steakhouse and Texas Roadhouse, which have both seen substantial gains in new locations and sales in the past year, boosting the share prices of their respective parent companies. Although neither brand has actual origins in the Lone Star state — LongHorn was founded in Georgia in 1981 and Texas Roadhouse in Indiana in 1994 — both have adopted Texas-inspired identities and a mission to serve the best meat.

Persons: — Organizations: LongHorn, Texas Roadhouse, Service, Texas, Lone Star, — Locations: Texas, Wall, Silicon, Georgia, Indiana, Madison , Wisconsin

☆ 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

☆ Grief, Vengeance and a Crime Too Terrible to Forgive
▼ + stars: | 2023-05-10 | by ( Jazmine Hughes | ) www.nytimes.com time to read: +2 min

If Barbara Massey-Mapps had her way, she would kill the man who murdered her sister herself. Other days, she wants him to be sentenced to the electric chair, his death broadcast live on TV. Sitting in court, she thinks to herself: How can I get past the cops guarding him before they catch me? She spoke plainly, though her words were shrouded in a painful acceptance, as if she were listing symptoms instead of emotions. “We have to answer phone calls like this because we don’t know who they are,” she explained.

☆ 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 Hospitality Group
▼ + 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 NewsDarden Restaurants agreed to buy Ruth’s Hospitality Group in a deal that would put the fine-dining chain under the same roof as Olive Garden, LongHorn Steakhouse and Seasons 52. Darden agreed to an all-cash transaction, valued at $715 million, or $21.50 a share. The deal represents a 34% premium to Tuesday’s closing price for Ruth’s Hospitality.

☆ Six Cattle Found Dead in Texas With Their Tongues Missing
▼ + stars: | 2023-04-22 | by ( Mckenna Oxenden | ) www.nytimes.com time to read: 1 min

In what could be a plot from an episode of “The X-Files,” the authorities are investigating the mysterious deaths in three Texas counties of six cattle that were found with their tongues missing. Ranchers found the mutilated remains of a 6-year-old longhorn-cross cow on their property, the Madison County Sheriff’s Office said on Facebook Wednesday. The office did not say when the cow was discovered but said a “straight, clean cut, with apparent precision, had been made” to remove the hide around its mouth on one side. The meat under the removed hide was untouched, and the cow’s tongue was gone with no blood spilled, the office said.

☆ Some US volunteers in Ukraine have become embroiled in infighting that has undermined the war effort, with one individual having lied about being a Marine: NYT
▼ + stars: | 2023-03-25 | by ( John L. Dorman | ) www.businessinsider.com time to read: +7 min

The squabbles have not only threatened the war effort, but have exposed deeply consequential lies. Some volunteers have left the war effort in Ukraine after questions arose about their backgrounds. Foreign Legion volunteers in Ukraine. And while Ukrainian officials estimated that there were possibly 20,000 Legion volunteers, that number was officially much smaller. Lackey told Legion members that he was a Marine and said that he had been an assistant manager at LongHorn Steakhouse.

☆ Olive Garden parent raises revenue outlook as same-store sales jump
▼ + stars: | 2023-03-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden CEO Rick Cardenas credited the quarter's strong sales growth to its strategy of pricing below inflation. Net sales rose 13.8% to $2.79 billion, fueled by same-store sales growth of 11.7% across all of its brands, which include chains like Olive Garden, LongHorn Steakhouse and The Capital Grille. Wall Street was expecting same-store sales to increase just 9.1%, according to StreetAccount estimates. Olive Garden, which accounted for nearly half of Darden's quarterly revenue, reported same-store sales growth of 12.3%. And its fine-dining business, which includes The Capital Grille, reported same-store sales growth of 11.7%.

☆ UBS says these stocks posted high-quality earnings this season
▼ + stars: | 2023-02-22 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Now that Wall Street is about to close the books on yet another earnings season, it's time to see which names posted higher-quality earnings than others, according to UBS. In the S & P 500, about 86% of companies reported quarterly earnings thus far, according to FactSet data. However, UBS' strategist Keith Parker worries that earnings quality is an "overhang," saying the divide between earnings and operating cash flow for companies points to roughly 15% earnings-per-share downside for at-risk stocks. These stocks are in the S & P 1500, have a market cap greater than $3 billion, excluding stocks in financial, real estate and utilities. Meanwhile, Humana demonstrated strong earnings quality because of its leading position in the Medicare Advantage market, according to UBS analyst Kevin Caliendo.

☆ McDonald’s finds inflationary happy place
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Jan 31 (Reuters Breakingviews) - McDonald’s (MCD.N) is having a good time at the bottom of the price food chain. The Chicago-based burger purveyor on Tuesday said that same-store sales rose 12% year-over-year in the last three months of 2022. That has helped restaurants grow, but McDonald’s is particularly benefitting. That’s despite McDonald’s touting the benefit of “strategic menu price increases” this quarter; the company previously said its U.S. prices should be up over 10% for the full year. How long this can continue probably depends on other options staying pricier – but for now, the nugget-maker has found its happy place.

☆ The surprise lettuce crisis cost Olive Garden's owner as much as $5 million in 3 months
▼ + stars: | 2022-12-18 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Olive Garden has lost nearly $5 million in the space of three months, its parent firm's chief financial officer said. At its quarterly analyst call for its fiscal Q2 2023, Darden Restaurants chief financial officer Raj Vennam estimated that issues with lettuce production cost between $4 million to $5 million. Darden has faced mounting costs this year, with Vennam saying costs are up 20% for chicken and dairy year on year. The hit from rising prices for lettuce — a bedrock of Olive Garden's never-ending salad — was a shock. It was, call it, $4 million to $5 million impact in the quarter, that's meaningful," Vennam said.

☆ Darden Sales Rise but Higher Costs Dent Profit
▼ + stars: | 2022-12-16 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Olive Garden is one of Darden Restaurants’ two largest chains. Darden Restaurants Inc. said sales rose 9.4% in its latest quarter as diners continue to eat out, while profit edged lower as the restaurant company faced soaring costs for food and labor. The owner of Olive Garden, LongHorn Steakhouse and other sit-down restaurants on Friday also raised its guidance for its current fiscal year.

☆ Olive Garden parent company Darden beats estimates, raises outlook
▼ + stars: | 2022-12-16 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The company also raised its earnings outlook for fiscal 2023 to a range of $10.3 billion to $10.45 billion from its previous range of $10.2 billion to $10.4 billion. Revenue: $2.49 billion vs. $2.43 billion expected. Darden's total sales rose 9.4% compared with the same quarter last year. Olive Garden, which accounts for nearly half of Darden's revenue, saw same-store sales increase 7.6%, while overall same-store sales rose 7.3% for the company. Darden said it had 1,887 locations open as of the end of the quarter, compared with 1,852 last year.

☆ A lettuce production problem cost Olive Garden owner millions
▼ + stars: | 2022-12-16 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —High lettuce costs are coming for Olive Garden’s never-ending salad. Olive Garden's parent company said high lettuce costs had a $4-$5 million impact in the quarter ending November 27. But the lettuce prices were “a big surprise.”California crop diseaseCrop disease in California, where much of the country’s lettuce is grown, has hit lettuce supply and forced prices to rise. The crop virus in addition to the geographical shift “was the perfect recipe for really historically high prices,” he said. High lettuce prices are hitting consumers in the grocery store, as well.

☆ Brock Purdy: From 'Mr. Irrelevant' to beating the NFL's GOAT
▼ + stars: | 2022-12-15 | by ( Ben Morse | ) edition.cnn.com time to read: +12 min

And this bull is now a steer, so he’s irrelevant. Justin Casterline/Getty ImagesWhen Purdy was selected by the 49ers – and that famous red and white jersey was brought out with “Mr. Irrelevant” celebrations began in 1976, when former 49ers receiver Paul Salata founded “Irrelevant Week” in Newport Beach, California. Purdy celebrates at midfield after the Iowa State Cyclones defeated the Oklahoma State Cowboys 24-21 at Jack Trice Stadium on October 23, 2021 in Ames, Iowa. “I’ve tried to keep myself from being surprised about Brock Purdy years ago because nothing surprises me anymore with him.”

☆ What Cramer is watching Friday — 2-year yield unstoppable as stocks to retest mid-June lows
▼ + stars: | 2022-09-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Our trusted S & P Oscillator is at a minus 7. Goldman cut its year-end S & P 500 target to 3,600 from 4,300. Darden Restaurants (DRI), parent of Olive Garden and LongHorn Steakhouse, had its price target lowered $2 to $129 by Deutsche Bank. Morgan Stanley is concerned that Advanced Micro Devices (AMD) will miss numbers, so it cut its price target to $95 per share from $102. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Darden’s Profit Falls 16.4% on Rising Costs
▼ + stars: | 2022-09-22 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Darden Restaurants Inc. posted a 16.4% drop in quarterly profit as higher sales at Olive Garden and the company’s other restaurants failed to offset rising food and labor costs. Darden, which also operates chains such as LongHorn Steakhouse and Capital Grille, on Thursday said sales rose 6.1% in its fiscal first quarter to $2.45 billion, just under the $2.47 billion Wall Street analysts had been expecting.

☆ What Cramer is watching Thursday — 2-year yield says Fed going much higher; job market remains tight
▼ + stars: | 2022-09-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

An inflation target from the Fed of 2%, does that mean we need the nation's unemployment rate to double? Weekly jobless claims up slightly to 213,000, but that's fewer than expected and suggesting the labor market remains tight. UBS upgrades Club holding Eli Lilly (LLY) to buy from neutral (hold), raises price target to $363 per share from $335. Barclays lowers price target on United Parcel Service (UPS) to $180 per share from $200, keeps equal weight (hold) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ 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.

☆ I ate the same meal at Texas Roadhouse, Outback Steakhouse, and LongHorn Steakhouse. Here's how they compared.
▼ + stars: | 2019-08-01 | by ( Irene Jiang | ) www.businessinsider.com time to read: +2 min

Texas Roadhouse, Outback Steakhouse, and LongHorn Steakhouse are restaurant chains in America. Texas Roadhouse, Outback Steakhouse, restaurant chains in America. I went to the Outback Steakhouse in Manhattan, the LongHorn Steakhouse in Queens, and the Texas Roadhouse in Teterboro, New Jersey, to see how the dining experiences compared. Outback Steakhouse, LongHorn Steakhouse, and Texas Roadhouse are the three biggest steakhouse chains in America, according to a 2019 Nation's Restaurant News report. I went to three New York City-area locations — the Outback Steakhouse in Manhattan, the LongHorn Steakhouse in Queens, and the Texas Roadhouse in Teterboro, New Jersey — to see how the dining experiences compared.

Persons: margarita, — Organizations: Texas, LongHorn, America . Texas, Texas Roadhouse, Service, New Locations: America ., America, Manhattan, Queens, Teterboro , New Jersey, That's, New York City

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