Posted: Dec 17, 2022
High lettuce costs are coming for Olive Garden’s never-ending salad.
Darden Restaurants, which owns the casual dining chain in addition to Longhorn Steakhouse, Cheddar’s Scratch Kitchen and other restaurant chains, said that a spike in wholesale lettuce prices led to a big hit in the quarter ending November 27.
“It was, call it, $4 million to $5 million impact in the quarter,” Darden CFO Raj Vennam said during a Friday analyst call discussing financial results. “That’s meaningful.”
He pointed to “poor growing conditions and weather-related events” as reasons for the price increase.
Extreme weather like droughts and flooding, in addition to produce and animal diseases, have squeezed supply and led to wild price swings across food items this year.
By Danielle Wiener Bronner
Source and Complete Article: cnn.com
Date Published: December 16, 2022
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