Is Red Lobster Decline?

Red Lobster Is In A Real Decline

By Jonathan Maze

No wonder Darden wants to spin off Red Lobster.
The Orlando-based casual dining operator filed forms with the SEC to divest itself of the venerable seafood chain, and the documents demonstrate how much the brand has declined in the past couple of years, both in terms of sales and profits.
Red Lobster's total sales in the first six months of the current fiscal year, which ended in November, fell 5 percent from the same period a year earlier. But net earnings fell further. The brand reported $8.2 million in net earnings for the period, down from $46.6 million the year earlier. For those of you doing the math, that's an 82 percent decline.Continue