After Darden (DRI) announced that it would spin off Red Lobster and reduce its unit growth and capital expenditures, BWS Financial says that the news reaffirms its thesis of Middleby's (MIDD) customer base having lackluster same-store sales growth that could lead to reduced orders for Middleby. The firm thinks that Darden's commentary foreshadows reduced spending by Middleby's customers next year. It keeps a Sell rating on Middleby.
- Investment & Company Information
- Red Lobster