News Summary: Darden cuts outlookDecember 4, 2012 @ 2:09 pm
(AP) - BAD TASTE: Darden Restaurants Inc. is cutting its profit forecast for the year, with the owner of Olive Garden and Red Lobster blaming failed promotions and negative publicity.
SLICING PROFITS: The company expects costs related to its acquisition of the Yard House USA Inc. chain and from Superstorm Sandy to reduce profit from continuing operations by 25 or 26 cents per share.
ANALYST ANGST: Analysts had expected earnings of 46 cents per share. Darden's stock tumbled nearly 10 percent on Tuesday.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Have a Seat
Crystal Mountain says it'll auction off chairs destroyed in a massive avalanche
New radar data shows a Malaysian Airlines Boeing 777 changed course before disappearing
Seattle's most famous gardener gives you the green light
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.