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Stock Alert: Darden Restaurants Up On Narrower-than-estimated Loss In Q4

Darden Restaurants, Inc., (DRI) shares are rising, as the company reported a fourth-quarter loss, lesser than what analysts expected. The stock is trading at $73.99, up 4.60 percent from its previous close of $70.81.

The restaurant company's portfolio includes brands such as Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's.

The company reported net loss of $480 million or $3.86 per share for the fourth quarter compared to profit of $208 million or $1.67 per share last year.

Excluding items, loss was at $1.24 per share. On average, 25 analysts polled by Thomson Reuters expected the company to report loss of $1.72 per share.

Net sales for the quarter declined to $1.270 billion from $2.229 billion a year ago, driven by negative blended same-restaurant sales of 47.7 percent. The consensus estimate for revenue stood at $1.24 billion.

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