DRI Stock Sinks as Darden Disappoints Again

by Christopher Freeburn | June 20, 2014 12:17 pm

DRI Stock Sinks as Darden Disappoints Again

On Friday, Darden Restaurants (DRI[1]) posted quarterly results that fell short of Wall Street forecasts[2], sending DRI stock down almost 3% in midday trading.

Darden185 DRI Stock Sinks as Darden Disappoints Again[3]DRI stock slid after Darden reported a fiscal fourth-quarter profit of $86.5 million, down from $133.2 million in the year-ago period. Adjusted EPS came in at 84 cents per share, which missed the 94 cents that analysts had anticipated, the Associated Press notes.

Darden said revenue edged up to $2.32 billion, but that also fell narrowly below the $2.33 billion that Wall Street had expected.

DRI stock closed at $49.52 per share on Thursday.

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Endnotes:
  1. DRI: /stock-quotes/DRI-stock-quote/
  2. that fell short of Wall Street forecasts: http://www.newser.com/article/d2bce87e13d74fcb9e119927956117a6/sales-at-olive-garden-red-lobster-slide-and-dardens-profit-tumbles-on-charges.html
  3. [Image]: http://investorplace.com/wp-content/uploads/2012/06/Darden185.jpg
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