Meanwhile, Darden raised prices 6.3% in the most recent quarter, according to CFO Raj Vennam.
“Our restaurants continue to be well staffed and our manager staffing remains at historic highs.”
Darden has been playing the long game with its lower pricing, high-value strategy.
Jonathan Weiss/Shutterstock
“Now there is a tension between what people want and what they can afford,” Cardenas said.
“Consumers continue to seek value, which is not about low prices.
Consumers are making spending trade-offs.
“Peak pricing for us on an annual basis is behind us,” Vennam said.
“Unless something dramatically changes, we see pricing coming down.”
