I still dont nderstand how people patronize these "restaurants". Food is terrible and is way too pricey especially Red Lobster. I guess there is a real culture change. People do not cook anymore. They would rather pay for this "food".
I have to hand to the CEO.. he plays the market psychology very well. When was their anal-yst conference? Late January? They must have had most of these numbers sewn up by then. He underplays the profits and then "beats" the expectations. Look for a $3 jump tomorrow.
I might have shorted if the stocks went down towards the end of the day. It kept going up. No leaks of earnings.. yeah right!
I stopped eating at these chain restaurants years ago. I tend to visit locally owned restaurants occasionally.
Back in late 90's, Olive Garden was really good - quality of food and serving size. The last time I went there was in 03. The decline was not sudden; it was gradual.
Same thing is happening with Applebee's as well.
ummm.. thats what you morons said 6 months ago.
unemployment is not high. in Canada its more like 15%. in Europe the same.
americans are just spoiled.
but anyway many restaurants are struggling. DRI is just run very well and they bring back people over and over with affordable menu and decent food.
i dont eat out as an athlete but i used to go there cause they are consistent and clean.