CEO Rick Cardenas said the company fell short of its own expectations for the quarter."While we fell short of our expectations for the first quarter, I firmly believe in the strength of our business," CEO Rick Cardenas said in a statement."I am confident in the actions all our brand teams are taking to address their guests' needs, which do not compromise the long-term health of our business for short-term benefits.
Olive Garden's same-store sales fell 2.9% in the quarter. The chain is reviving its Never Ending Pasta Bowl later this month in the hopes of bringing back customers. Darden's fine-dining segment, which includes Eddie V's and The Capital Grille, reported same-store sales declines of 6%. LongHorn Steakhouse was the company's only division to report same-store sales growth. The chain, a top performer in Darden's portfolio since the pandemic, saw same-store sales growth of 3.7%.
Despite the gloomy quarter, Darden reiterated its full-year forecast. Darden is forecasting earnings per share from continuing operations of $9.40 to $9.60 and net sales of $11.8 billion to $11.9 billion.