Darden Posts Higher Profit, Shrugging Off Beef Inflation
Fiscal second-quarter total sales increased 7.3% to $3.1 billion.
Darden Restaurants reported higher fiscal second-quarter sales and profit and raised its full-year sales-growth guidance as it shrugged off impacts from soaring beef prices.
The company on Thursday reported net income of $237.2 million, or $2.03 a share, for the quarter ended Nov. 23, up from $215.1 million, or $1.82 a share, the year prior. Analysts expected $2.11 a share, according to FactSet.
Total sales increased 7.3% to $3.1 billion. Wall Street expected $3.08 billion. Same-restaurant sales rose 4.3%, beating analysts' expectation...
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