Retailers, consumers and prices
Check Out Line: Never-ending bowl of sales?
Check out what Americans like to eat. Apparently, it may be an endless bowl of pasta.
Olive Garden owner Darden Restaurants posted a weaker-than-expected increase in same-store sales in the most recent quarter.
But the 1.1 percent increase was better than what the restaurant industry has shown overall and sales at Olive Gardens open at least 16 months rose 2.7 percent.
Chief Executive Clarence Otis said Olive Garden saw increased traffic in July and August.
“We believe that the concept’s current Never-Ending Pasta Bowl promotion is helping keep the brand’s top-line momentum solid, and we look for same-store sales to show modest sequential acceleration in fiscal Q2,” Janney Capital Markets analyst Mark Kalinowski said in a research note.
Mmmmm!!!! Endless pasta!!!! Now if only we could get the company Longhorn Steakhouse to offer endless filets, we’d be all set.
Also in the basket:
Blockbuster nears bankruptcy (WSJ)
Iowa egg farmer and a history of salmonella (N.Y. Times)