Autocross Blogs - Chrls Iicey

ORLANDO, FLA. - Acknowledging that Tiffany 1837 Ring casual-dining market has softened more than anticipated, the segment's largest operator, 1,700-unit Darden Restaurants Inc., told investors its Red Lobster, Olive Garden, LongHorn Steakhouse and other brands are adjusting by couponing, tweaking prices and marketing more aggressively.Darden executives also sketched out a new Red Lobster menu aimed at reeling in lost customers, and plans for the LongHom chain's expanded remodeling program.In a conference call on first-quarter results that included a 22.5-percent fail in net profit, Darden officials detailed new short- and long-term strategies for each of its six chains, which had "reviewed Tiffany Cushion ring key sales-building initiatives ... and made adjustments where appropriate," Drew Madsen, Darden's president and chief operating officer said.

Each chain is targeting at Elsa Peretti Sevillana ring flat to 1-percent gains in same-store sales for the fiscal year ending next May, he said.ive Garden, the only Darden chain with positive same-store sales for the Aug. 24-ended first quarter, will raise its prices by nearly 3 percent, Madsen indicated. However, the prices of promotional dishes at Red Lobster, including lobster, will be reduced and more marketing support will be given to its all-you-can-eat Endless Shrimp promotion, which began in AugustDarden chief executive Clarence Otis said Red Lobster will court "lapsed users" by launching a new menu in November to counter consumers' perceptions the chain features frozen, fried and bland fish, which he characterized as a major turnoff for some."Hie new menu won't include "a lot of new higher-priced items," but will stress freshness, flavor and "culinary innovation," he said.

Madsen said Red Lobster is Elsa Peretti Open Heart ring coupons during the current quarter, and LongHorn is seeking to blunt perceptions about its relatively high prices by increasing its couponing by about 25 percent for the rest of the current fiscal year. He acknowledged that segment rival Outback Steakhouse's promotion of a $9.99 sirloin "is probably having an impact on LongHorn and others in the category!'LongHorn won't do such a price promotion, but might do an Endless Shrimp-type incentive, Madsen indicated.Trading-down pressures on higher-end chains are reflected in the 8.6-percent same-store sales drop atThe Capital Grille chain for the first quarter. Gene Lee, president of Darden's specialty restaurant group, said the 33unit chain is striving to increase its private-dining business.The 23-unit Bahama Breeze chain had a same-store sales decline of 3.7 percent, and is addressing that through cable advertising, direct-mail promotions and an Internet marketing debut, Lee added.