Olive Garden parent Darden, Uber stocks pop after delivery deal announcement

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Olive Garden News

Darden Restaurants,Uber Partnership,Uber

Darden and Uber stocks jumped Thursday after the announcement of a multi-year food delivery partnership.

will allow Olive Garden to leverage Uber’s delivery technology to bring its breadsticks and pastas to the doorsteps of customers. The deal is a reversal of Darden’s long standing resistance to working with third-party delivery apps. An initial pilot of the program will begin at a limited number of Olive Garden locations later this year and will eventually become available at 900 restaurants.

Vennam admitted that company executives were “surprised by the significant step down in traffic beginning with the Fourth of July holiday” but noted that sales rebounded in August. The company reiterated its financial outlook for the rest of the year.Olive Garden owner Darden saw its stock rise after the company announced a new deal with Uber.

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