Retail

Pandemic slashes sales at Olive Garden’s Times Square location by 94%

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An Olive Garden restaurant located in Times Square, New York.

Adam Jeffery | CNBC

During a typical year, Olive Garden’s Times Square restaurant rakes in $15 million in sales.

But the coronavirus pandemic and local restrictions on dining have wiped out the business of the chain’s best location, cutting its average weekly sales from $300,000 to less than $18,000.

Darden Restaurants CEO Gene Lee told analysts on the company’s fiscal first-quarter call that sales have slowed down to just $2,500 a day for the takeout-only location. Olive Garden accounts for roughly half of Darden’s overall revenue.

And the Olive Garden isn’t the only Darden restaurant that has seen its New York business falter….



Source cnbc.com

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