From CNBC: 2024-06-20 11:37:15

Casual-dining chains like Olive Garden are seeing more customers as frustration grows over higher fast-food prices. Competitors like Chili’s and Applebee’s are attracting diners with deals and campaigns. The consumer price index has risen 3.3%, pushing consumers to seek better value. Even McDonald’s faces backlash over higher prices.

Darden Restaurants, despite facing challenges, reported flat same-store sales but exceeded earnings expectations. The company has focused on lower pricing and TV advertising to attract customers. While dealing with a weaker consumer environment, executive remain optimistic about outperforming the casual dining sector. Darden’s stock rose 1% following the news.



Read more at CNBC:: Fast food diners switch to casual chains, Darden CEO says