Olive Garden sales fall short, but parent company Darden stands by outlook - CNBC

The parent company of Olive Garden and LongHorn Steakhouse said net sales for the fiscal first quarter rose 6.1% to $2.45 billion, which was short of Wall Street's expectations.

Olive Garden's same-store sales rose 2.3%, falling short of StreetAccount estimates of 5.4%.

Demand for LongHorn Steakhouse also was short of Wall Street's expectations.

The chain reported same-store sales growth of 4.2%, missing estimates of 5.1%.

The segment, which includes The Capital Grille, reported same-store sales growth of 7.6%.

It's forecasting same-store sales growth of 4% to 6% and 55 to 60 new restaurant openings in fiscal 2023.