Darden announces business update amid COVID-19 (coronavirus)
Amid the coronavirus outbreak in March 2020, Darden’s restaurants saw a huge loss as individuals were under stay-at-home orders. As it became apparent what the situation was, Darden shut down all of their dining rooms and began to operate their restaurants in a to-go only capacity. In order to support their staff that typically worked in their dining rooms, the company rolled out a three-week emergency pay program. More than 99.0% of their restaurants remained opened and Olive Garden and LongHorn Steakhouse saw a double and triple increase, respectively, in to go sales. Stores that did close were because of operational constraints. https://investor.darden.com/news/news-details/2020/Darden-Restaurants-Provides-Business-Update-Related-to-COVID-19-And-Announces-New-Term-Loan-2020-4-7/default.aspx
COVIDIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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