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Olive Garden Has No Plans To Offer Discounts, And You May See Menu Prices Increase
(Gray News) – While other restaurants are coming up with plans to offer discounts, Olive Garden is not.
Because of tight budgets and rising costs of living, many restaurants are offering new deals to bring back customers.
"We're not doing that, even at a time that our competitors have ramped up discounting," said Rick Cardenas, CEO of Olive Garden's parent company Darden Restaurants, during an analyst call Thursday, according to CNN.
Instead, the chain has focused on making modest price increases and avoiding deep discounts.
According to the CNN report, in the most recent quarter, Olive Garden raised prices by 1%. Over the course of the fiscal year, Olive Garden hiked prices up about 3.5%.
Offering deals is a short-term fix to declining sales, but it's a risky business, experts told CNN.
The reason is because customers will then continue to expect even bigger and better discounts to come, which may not be feasible to make a profit.
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Italian Restaurant Chain Olive Garden To Continue Increasing Prices Amid Low Sales
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