March 21 (Reuters) - Darden Restaurants Inc reiterated its plans to divest its struggling Red Lobster chain and reported third-quarter results in line with analysts’ lowered expectations.
The Orlando-based company, which also owns the Olive Garden and LongHorn Steakhouse chains, said on March 3 that severe winter weather hurt sales and profit.
The company’s net income fell to $109.7 million, or 82 cents per share in the quarter ended Feb. 23, from $134.4 million, or $1.02 per share, a year earlier.
Same-restaurant sales fell 8.8 percent at Red Lobster and 5.4 percent at Olive Garden. They rose 0.3 percent at LongHorn Steakhouse. (Reporting by Aditi Shrivastava and Lisa Baertlein; Editing by Savio D‘Souza)