Darden’s shares jump after announcement
Finally, some important news for those who consider a king-sized duvet to be the perfect tablecloth upon which to eat your Olive Garden feast: Darden Restaurants, parent company of Olive Garden, has announced an exclusive partnership with Uber to deliver its food.
“Guests have been asking us for home delivery options and they continue to show they are willing to pay for the convenience,” CEO Rick Cardenas said.
While some areas will see this option later this year, Darden expects the option to be available across the U.S. by May 2025. After years of resisting any partnership with third-party apps, the home of endless breadsticks (let’s face it, nobody really cares about the soup and salad) reversed course in the partnership. ‘
The decision comes after news that Olive Garden’s same-store sales, the ultimate measurement of success or failure in the chain restaurant industry, fell 2.9 percent in the last quarter. The restaurant had to kick off the Never-Ending Pasta Bowl promotion earlier than usual to get a business boost.
Parent company Darden took in $2.76 billion last quarter, missing predictions of $2.8 billion. However, the announcement of the collaboration with Uber boosted the closing price of the stock Thursday a health 8 percent.
Olive Garden has long been a bone of contention in the foodie community, with many pointing out that the chain’s dishes are in many cases Americanized versions of traditional Italian food with tremendously amped-up amounts of fat, salt and sugar. Others defend it, citing Olive Garden’s chef education programs and … well … did I mention the endless breadsticks?