BELOW SUPERNAV drop zone ⇩

Olive Garden hikes menu prices; How much extra you can expect to pay

(Getty Images)

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

ovp test

mLife Diagnostics LLC: Oral Fluid Drug Testing

Male shot by female at Shreveport apartment

Class to create biodiverse backyard

Rules for outbursts at Caddo School Board Meeting

(WJET/WFXP) — Olive Garden has announced that it will continue to raise prices, following a drop in sales last quarter.

The CEO stated that the company is still avoiding offering discounts to attract customers, despite a decrease in sales and loss of customers. During the company’s earnings call held on Thursday, Darden executives attributed the sales slump to the financial stress of inflation, which is affecting a portion of their customers.

The pullback is mostly at the below-median household income. … our other [customer] groups are stable or growing

Raj Vennam, Financial Chief

Darden Restaurants, the company that owns and operates restaurants like Olive Garden, Longhorn Steakhouse and Cheddar’s Scratch Kitchen, reported they will be increasing prices company-wide by an average of 2% to 3% over the next year. Olive Garden had already seen a 1% increase in menu prices last year. This price increase would be seen across all of the restaurants that Darden owns.

With this plan, Darden estimates they will see a 1% to 2% growth in sales in 2025.

Prices across fast-food chains have seen a 31% rise in the past 10 years, McDonalds seeing the highest increase at a 100% inflation rate.

This comes as a “price war” is unfolding in the restaurant industry. Many chains are beginning to offer deeply discounted deals in an attempt to attract more customers. McDonalds recently announced a new $5 meal deal attempting to address concerns over the rising prices.

Wendy’s and Starbucks also joined in offering value meals. Wendy’s offering a $3 breakfast and Starbucks offering a $6 breakfast sandwich and coffee combo.

Business

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Clear

la

61°F Clear Feels like 61°
Wind
0 mph W
Humidity
89%
Sunrise
Sunset

Tonight

A few clouds. Low 58F. Winds light and variable.
58°F A few clouds. Low 58F. Winds light and variable.
Wind
3 mph N
Precip
3%
Sunset
Moon Phase
Full Moon