date:Mar 05, 2014
Rescue efforts are under way for Red Lobster following Darden Restaurants December announcement to sell or spin off the seafood chain.
During a March 3 conference call with analysts, Darden detailed progress on its comprehensive strategic plan, which also includes reducing unit growth for Olive Garden and LongHorn Steakhouse, lowering capital expenditures and forgoing acquisitions of additional brands and increasing operating support cost savings.
Darden said its sales process for Red Lobster