Darden Restaurants Faces Mixed Q1 Results and Partners with Uber for Delivery Services
Darden Restaurants has reported disappointing earnings for the first quarter, particularly struggling with sales from Olive Garden and other fine dining establishments due to a significant drop in customer traffic in July. Despite these setbacks, the company announced a partnership with Uber to offer on-demand delivery for Olive Garden, which has resulted in a noticeable surge in stock prices following the announcement. Although their financial results did not meet Wall Street expectations, the collaboration with Uber is seen as a positive move to boost sales recovery. Darden plans to pilot the delivery service, starting with select Olive Garden locations by the end of 2024, as it attempts to improve performance amid mixed results across its restaurant divisions.