June 20 - Falling sales and rising costs at Olive Garden and Red Lobster ate into Darden's profit. Cheaper chains like Chipotle are stealing its customers. Fred Katayama reports.
Investors having less of an appetite for olive garden and red lobster the troubled change help. Dragged down -- quarterly profit 35%. Cheaper chain selling fast casual food like supposedly keep eating away at sales as costs rise. Strong same store sales and -- pricey restaurants like capital grille bahama breeze. Weren't enough to offset that. All this comes -- a fight over red lobster and Doris plans to revive the company. -- -- expects that that one point six billion dollars from its sale of red lobster part of which will be used to buyback shares. Activist investors -- a broader breakup of the company separating it's changed my size and creating a separate unit for its real estate. Darden has rejected their push for a new board. Darden's stock fell at the start of trade adding to its 10% loss this year.