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DRI Stock Sinks as Darden Disappoints Again

Its fiscal fourth-quarter profit was down year-over-year


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

Darden Restaurants NYSE:DRIDRI 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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