Darden Restaurants (DRI) Q4 2020 earnings hurt by coronavirus closures


An Olive Garden restaurant in Times Square in New York.

Richard Levine | Corbis | Getty Images

Darden Restaurants on Thursday reported that same-store sales were nearly cut in half during the fiscal fourth quarter as dining room closures from the coronavirus pandemic weighed on its revenue.

But the Olive Garden parent expects its business to pick up in the next three months. The company’s outlook for next quarter projects total sales to be about 70% from a year earlier.  

“As our industry continues to rebuild, there is significant opportunity to increase market share,” CEO Gene Lee said in a statement. “Those executing at the highest level are going to win, and Darden is well positioned…

Source cnbc.com

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