John Ivanko's questions to DARDEN RESTAURANTS (DRI) leadership • Q1 2026
Question
John Ivanko asked about Darden's observations on demand destruction at retail, specifically recent data on retail beef demand. He also inquired about lessons learned from past unsuccessful attempts at smaller portions and lower prices in casual dining, and how Olive Garden's current approach to lighter portions differs.
Answer
CFO Raj Vennam confirmed that recent data (last month) shows a low single-digit year-over-year decline in retail beef volume, a shift from prior robust months. CEO Rick Cardenas clarified that Cheddar's Hawaiian sirloin is not a smaller portion. Regarding Olive Garden's lighter portions, he explained that they still offer abundance (with unlimited soup/salad/breadsticks) but add price breadth, catering to a consumer group whose definition of abundance may differ, unlike past attempts where overall portions were already smaller.