Darden beats quarterly earnings estimates as Olive Garden sales slow

Darden Restaurants reported strongerthanexpected adjusted earnings for its fiscal fourth quarter, but revenue fell slightly short of Wall Street estimates. The company also said samestore sales growth at Olive Garden and its finedining segment came in below expectations. The restaurant chain said net sales rose 13.7% to $3.72 billion in the quarter ended May 31, helped by an extra week in the fiscal year. Adjusted earnings were $3.66 per share, compared with analysts’ expectations of $3.63 per share. Looking ahead, Darden gave fiscal 2027 guidance that was toward the lower end of Wall Street forecasts for sales and profit. The company expects samestore sales growth of 2.5% to 3.5% and plans to open 75 to 80 new locations, while continuing to convert some Bahama Breeze restaurants to other brands.