June 20 Darden Restaurants Inc's
quarterly profit slid 35 percent as costs soared and sales at
its flagship Olive Garden restaurant chain fell.
Shares of Darden, which is selling its struggling Red
Lobster seafood restaurants in a $2.1 billion deal, were down 5
percent in premarket trading.
The Orlando-based company said net income fell to $86.5
million, or 65 cents per share in the fourth quarter ended May
25, from $133.2 million, or $1.01 per share, a year earlier.
Net sales rose 3.6 percent to $1.65 billion.
(Reporting by Lisa Baertlein in Los Angeles and Shailaja Sharma
in Bangalore; Editing by Joyjeet Das)