What Olive Garden and Red Lobster tell us about the economy - my dish olive garden darden restaurants

What can the bottomless bowl and cheddar cookies tell us about the economy?
More than you think.
Darton restaurants in Orlando
Head office with Olive Garden, Red Lobster and other mid-
On Friday morning, the scale catering chain announced its quarterly financial results as of August.
Revenue grew by nearly 5% year on year and revenue increased by 4% year on year.
Darton is not alone;
Other chain restaurants are also growing steadily.
Buried in these numbers, for a longer period of time
The trend of terminology they are involved in is some of the lessons learned in the United States. S.
The economy is developing.
The catering industry has been one of the highlights in the past decade.
And 18% full-time jobs.
In July, the service restaurant was 2 earlier than ten years ago.
Overall, 2% jobs were added.
According to Darden's submission to SEC, a typical Olive Garden or Red Lobster has three to five managers and 50 to 185 employees per hour.
In this world, any product that is easy to ship is facing fierce global competition and cannot be shipped (
Like a freshly steamed lobster. to-
Order pasta
It is a region of the United States. S.
Work is relatively safe.
The restaurant work not only benefits from the fact that when importing steak from China, the prepared steak will be cold, but also benefit from long-
The long-term trend of American lifestyles.
A century ago, eating chicken for dinner meant slaughtering and picking a chicken from the backyard.
Now, it may mean visiting the Olive Garden near you, eating chicken, cooking slices on the pasta, and then eating a sticky Alfredo sauce.
Details of Mr. Darton's Friday earnings report show some less promising trends in the US economy. S.
The economy behind this generally optimistic story.
First, the middle class is still squeezed, and the rich seem to live quite well.
Premium brand in Dayton, steakhouse chain Capital Grille (
Average of each
Personal check between $70 and $72), same-
Restaurant sales increased by 4%.
In this company's middle-class restaurant
Restaurant sales are mixed: up 0.
Olive Garden is 3% metres and 2 metres downstairs.
6% Red Lobster. Second —
This is part of the same story.
The restaurant staff gained a smaller share of the money from entering the door. Revenue rose 4.
Compared to the same period last year, sales for the quarter were 8%, while Labor spending for restaurants grew by only 2. 2 percent.
This is part of a trend: Labor costs accounted for 33 in fiscal 2010.
1% of sales;
Labor costs fell to 31.
The financial year 3% was 2012 per cent, down to 30 per cent.
The first quarter of fiscal 4% was 2013.
This is good news for Denton and its investors.
In a conference call on Friday morning, an analyst asked if the drop in labor costs was-
Time will continue over time.
"We expect to continue this year --over-
The annual improvement of the restaurant Labor line, "said Brad Richmond, Chief Financial Officer of Darden.
"Maybe not as good as the first quarter.
Don't blame Darton.
Employers pay only the wages they have to pay to get the workers who are in a position to do so.
But a lawsuit against the United States. S.
The whole economy.
If the unemployment rate is 5%, not 8.
1%, it will certainly be more difficult for Darton to find qualified chefs and waiters, and more must be paid.
In fact, you will expect an industry with a growing share of the economy to earn higher wage gains than a shrinking industry, as the training of workers lags behind the changes in the economy.
The high unemployment rate means that Darton's workers do not have the bargaining chip to ask for a big raise;
There is always another unemployed worker to take over their job.
The economy can be adjusted healthily.
In theory, the United States may have moved from housing.
More economic-centric services six years ago
Today, displaced construction workers find jobs in the kitchen of the Olive Garden, an economic-oriented economy.
On the contrary, nearly five years later, we still have a lot of unemployment, which is bad for almost everyone.