THE RESTAURANTS: Darden Restaurants Inc. said a key sales figure fell at its struggling Olive Garden and Red Lobster restaurants in its fiscal fourth quarter.
THE BACKGROUND: The Orlando, Fla.-based chain has been trying to rework the menu and prices at the restaurants at a time when consumers are more price-conscious and have so many more options. Executives blamed the softer sales on promotions that didn’t resonate with diners.
THE BOTTOM LINE: Darden’s net income nevertheless rose 10 percent in the quarter, primarily as a result of revenue from newly opened restaurants.
