Darden Restaurants Inc. posted a 16.4% drop in quarterly profit as higher sales at Olive Garden and the company’s other restaurants failed to offset rising food and labor costs.
Darden, which also operates chains such as LongHorn Steakhouse and Capital Grille, on Thursday said sales rose 6.1% in its fiscal first quarter to $2.45 billion, just under the $2.47 billion Wall Street analysts had been expecting.
