Darden missteps, 'Obamacare' flap dent Olive Garden owner's profit
Darden Restaurants Inc.'s second quarter was far from appetizing, as the owner of Olive Garden and Red Lobster watched its net income plunge 37%. The Orlando, Fla., restaurant company saw the sour numbers coming. Earlier in December, citing a litany of factors including negative blow-back over its response to the new national healthcare law, ineffective promotions and Superstorm Sandy—for its decision to lower expectations for the quarter.
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