A customer carries an Olive Garden shopping bag in Pittsburg, California, US, on Friday, Dec. 9, 2022. David Paul Morris | Bloomberg | Getty Images Darden Restaurants reported earnings and revenue that exceeded analysts’ expectations in Q1 as the owner of Ruth’s Chris Steak House. However, the fine-dining segment of Darden’s same-store sales experienced a …
Outback Steakhouse, owned by Bloomin’ Brands, experienced an 8.7% increase in its share price after activist investor Starboard Value revealed its interest in the company. According to a regulatory filing, Starboard now holds 9.9% of Bloomin’s shares, believing that the company is undervalued. With a market value of $2.43 billion, Bloomin’ Brands has seen a …
The recent decision by the U.S. Supreme Court to strike down student debt forgiveness has not only reintroduced a significant expense into the budgets of millions of Americans, but it has also posed a new challenge for retailers trying to anticipate consumer spending patterns. The court’s ruling has halted President Joe Biden’s plan to forgive …
A Longhorn Steakhouse restaurant in Thornton, Colorado, U.S., on Friday, March 19, 2021. Darden Restaurants Inc. is set to release its earnings figures on March 25. Chet Strange | Bloomberg | Getty Images Darden Restaurants reported quarterly earnings yesterday, surpassing the expectations of Wall Street analysts, mainly due to strong sales at LongHorn Steakhouse. However, …
A Tesla car dealership is seen on May 31, 2023 in Austin, Texas. Brandon Bell | Getty Images Explore the top movers in premarket trading: Tesla – The electric vehicle manufacturer’s shares declined over 3% before the market opening due to a downgrade by Morgan Stanley. The downgrade was a result of Tesla’s steep valuation …