The Latest Breaking News from LongHorn Steakhouse

The announcement comes after the Bahama Breeze brand shuttered a third of its stores last June

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

Despite Darden Restaurants’ outperformance relative to the Dow Jones over the past year, analysts are cautiously optimistic about the stock’s prospects.

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…