MSNBC has a great write up on Darden Restaurants, whose chains include Red Lobster and Olive Garden. Clarence Otis Jr., head of the company, avoided mass layoffs and store closings and is in much better shape than a lot of restaurants. His decision to keep employees to ensure great customer service, and refrain from giving such deep discounts that he lost substantial profits has helped his margins.
“We do think that the outperformance that we’ve had on same-store sales and on earnings really is probably the best evidence that the strategy was appropriate,” Otis said.You can read the entire story via MSNBC.
