I saw the headline this morning that Darden’s earnings declined, but THEY BEAT ESTIMATES!!!!
WOW!!! If they beat the estimates that have been dramatically decreased over the last three months than all must be well. What a fucking joke Wall Street and the MSM are.
Their earnings plunged by 18% over last year. Their comparable store sales are spiraling downward. These idiots took on $1 billion of debt in the last year as they have bought back $400 million of their own stock and have added 150 new restaurants.
Below is a chart from their earning release. Sales in February were rapidly deteriorating. The Obama tax increases, Obamacare health insurance premium increases, gasoline price increases, and “strong” jobs recovery are working their magic on the middle class.
Darden is the lobster in the coal mine. When the obese middle class are doing OK, they head out to Olive Garden for unlimited breadsticks or Red Lobster for unlimited crab legs. The middle class is not feeling OK. Ignore the MSM bullshit and look at the facts. The recession began last year and it’s getting worse. The proof is in the breadsticks.
http://finance.yahoo.com/news/darden-restaurants-reports-third-quarter-110000313.html
Fiscal 2013 December, January and February U.S. Same-Restaurant Sales Results
Darden reported U.S. same-restaurant sales for the fiscal months of December, January and February as follows:
| Olive Garden | December | January | February | ||
| Same-Restaurant Sales | -2.5% | -0.6% | -9.1% | ||
| Same-Restaurant Traffic | -3.7% | -0.9% | -7.0% | ||
| Pricing | 2.3% | 2.1% | 1.2% | ||
| Menu-mix | -1.2% | -1.7% | -3.4% | ||
| Red Lobster | December | January | February | ||
| Same-Restaurant Sales | -7.1% | -5.2% | -7.5% | ||
| Same-Restaurant Traffic | -5.5% | -1.7% | -6.0% | ||
| Pricing | 1.2% | 1.3% | 1.2% | ||
| Menu-mix | -2.8% | -4.8% | -2.7% | ||
| LongHorn Steakhouse | December | January | February | ||
| Same-Restaurant Sales | -3.6% | 2.5% | -3.0% | ||
| Same-Restaurant Traffic | -4.4% | 0.1% | -2.9% | ||
| Pricing | 2.0% | 2.0% | 2.0% | ||
| Menu-mix | -1.3% | 0.4% | -2.2% |
You forgot to seasonally adjust them Admin, that makes all the difference in the world! Why, if you seasonally adjust correctly, all numbers are good numbers!
All is well in the world! Nothing to see here folks!
The proof is in the breadsticks. I wonder what’s going to happen when people have to start paying their HMO’s 50% more for worthless health insurance, or the next leg up in gas prices, or when their hours get cut because of Obamacare. Better to keep eating breadsticks and “cheddar bay biscuits”, all you can eat. They haven’t had all you can eat crab legs for more than 4 years. Try to keep up.
My recommendation: start shoveling it in as quick as you can
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AND in an unusual turn of events the person who came up with the IDEA of all you can stuff in your hole crab legs was fired. Normally they make you a CEO when you fuck up that bad……..
If not for Benny & the Inkjets, and Pelosi, now Boehner, and the porkchops, we would have NEVER left the “recession.”
I’m been stating it since 2006, and I’ll continue to say it, TODAY is the “good ole days” for us and our children.
We have entered the Greater Depression and the only keeping the lights on is free Obama-bucks.
The day that song stops is the day everyone figures out just how FUBAR we are, and have been.
Fiat on.
Admin.,
Good one, “Lobster in the coal mine”.
AWD,
I was wondering how they could still have “all you can eat crab legs”. I buy crab legs at Costco twice a year, and it is expensive.
Welshman
Darden gets the crab legs from China.
TeresaE says: “The day that song stops is the day everyone figures out just how FUBAR we are, and have been.”
SHANNON says: “Let The Music Play”
someone asked, what happens to the money that is lost in the market? I wonder where the money that benny is printing goes to?
it was the 80’s when $100 bills came into common usage. before then, $20 bills were the norm, I think they were called yuppie food stamps. in due time we will see the popularity of $100 bills replaced by a new denomination. then we won’t hear rappers praising Benjamins, it’ll be Baraks.
eventually a $500 Barak note will only buy you a cup of Starbucks.