Economy hits Darden's Q4

Investor's Business Daily

The operator of the Olive Garden and Red Lobster restaurant chains said EPS fell 11% to $1.02, missing views by 2 cents, its 3rd straight quarter of declines. Revenue jumped 11% to $2.3 bil, slightly above estimates. Same-store sales rose 2.2%. Darden Restaurants (DRI) said it expects this fiscal year to be similar to '13, with "slow and uneven recovery" in the economy, and the restaurant operator said it would focus on value-priced items to boost customer traffic. The board approved a 10% quarterly dividend to 55 cents. Shares fell 2.2% to 50.12.

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