Login

Register | Forgot Your Password? | Close
Register | Forgot Your Password? | Close

(AP) - BAD TASTE: Darden Restaurants Inc. is cutting its profit forecast for the year, with the owner of Olive Garden and Red Lobster blaming failed promotions and negative publicity.

SLICING PROFITS: The company expects costs related to its acquisition of the Yard House USA Inc. chain and from Superstorm Sandy to reduce profit from continuing operations by 25 or 26 cents per share.

ANALYST ANGST: Analysts had expected earnings of 46 cents per share. Darden's stock tumbled nearly 10 percent on Tuesday.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus
close

Share: