The Latest Breaking News from LongHorn Steakhouse

Part of the employee’s prize was $5,000

Darden Restaurants is expected to announce its second-quarter results by mid-December, and analysts expect a low single-digit growth in earnings.

Despite missing analyst expectations, Darden Restauant’s stock popped as it forecasted a sales lift next quarter amid pessimism about the economy.

The company said results were fueled by same-store sales at Olive Garden and LongHorn Steakhouse.

The Orlando, Florida-based owner of Olive Garden and other chains has finished its $715 million deal to buy Winter Park, Florida-based Ruth’s Hospitality Group.

With the market expected to remain under pressure in the near term, one could invest in quality dividend-paying stocks, Procter & Gamble (PG) and Darden Restaurants (DRI), without hesitation. Moreover, these stocks are expected to benefit this holiday season significantly. Continue reading.

Darden Restaurants Inc (NYSE:DRI) reported fourth-quarter FY22 sales growth of 14.2% year-on-year to $2.60 billion, beating the consensus of $2.54 billion. Same-restaurant sales increased 11.7% versus last year. Olive Garden sales increased 8.2%, LongHorn Steakhouse climbed 13.2%, and Fine Dining jumped 40.7%. Darden clocked an operating margin of 13%, and the operating income…