LongHorn Steakhouse

Financing

Olive Garden and LongHorn Steakhouse find new profitability as sales return

The chains generated record restaurant-level margins last quarter as improved same-store sales coupled with better operations led to stronger profits.

Workforce

Olive Garden's parent company raises pay as sales rebound

Darden Restaurants says it will reward hourly employees with $17 million in bonuses while raising its pay scale to $12 an hour.

The latest ranking of all U.S. employers by Glassdoor.com lists only three restaurant companies, starting with the retro burger chain.

Big-name players are realigning top management to provide more flexibility and give additional attention to new revenue streams.

Parent Darden Restaurants is sketching out a five-year technology "road map" while looking at increased expansion opportunities for its biggest brand.

Rick Cardenas will move up to president and COO of Darden Restaurants while Raj Vennam will become CFO.

Included were 225 Darden employees who opted for early retirement and former COO Dave George, whose departure was described as an “involuntary separation.”

Gene Lee went from zero dollars, the pay level he set for himself to help Darden Restaurants and its employees, to $1 million a year.

The pandemic has slowed R&D, but chains are luring consumers with meal deals.

LongHorn Steakhouse

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