DRI Stock Recent News

DRI enhances its restaurant offerings with the acquisition of Chuy's.

Olive Garden parent Darden Restaurants, Inc (NYSE:DRI) was last seen down 0.9% at $157.22.

Olive Garden parent Darden Restaurants, Inc (NYSE:DRI) was last seen down 0.9% at $157.22.

ORLANDO, Fla. , Oct. 11, 2024 /PRNewswire/ -- Darden Restaurants, Inc. ("Darden") (NYSE:DRI) today announced that it has completed the acquisition of Chuy's Holdings, Inc. ("Chuy's Holdings") in an all-cash transaction with an enterprise value of approximately $605 million.

TipRanks' analyst ranking service pinpoints Wall Street's best-performing stocks, including Darden Restaurants and Target

Darden Restaurants is adapting to challenging market conditions with value promotions, menu innovations, and strategic partnerships, such as the new ToGo partnership with Uber. Olive Garden's reintroduction of the 'Never Ending Pasta Bowl' and other value-driven initiatives have significantly boosted traffic and comparable sales in recent months. LongHorn Steakhouse continues to outperform with positive comparable sales and traffic, driven by its resilience and strategic menu offerings without relying on value promotions.

Darden posted relatively lackluster fiscal results in its latest quarter. However, its decision to add a third-party delivery partner boosted the stock.

Darden Restaurant's NYSE: DRI stock has numerous advantages for investors, as seen in the price action. The stock has been volatile in recent years, but each downswing is met by an upswing, and momentum is building in H2 2024.

Olive Garden has always avoided using third party delivery services. Even during the pandemic, they resisted that urge.

Darden and Uber have announced a strategic multi-year partnership to launch on-demand delivery services.