Consumer Discretionary ETF (XLY) Takes Darden Restaurants Warning in Stride
Tweet
Share
E-mail
Consumer Discretionary ETF Consumer Discretionary SPDR (NYSE: XLY) saw a blip lower mid-day after restaurant Darden Restaurants, Inc. (NYSE: DRI), the owner of Red Lobster and Olive Garden, issued a cautious outlook on the casual dining sector.
Darden executives said this is a "new era" and they "need to change." They said consumers cut restaurant usage and need better value. They see slower revenue, earnings growth in coming years.
XLY last traded at $53.17, down 0.03%.
Darden executives said this is a "new era" and they "need to change." They said consumers cut restaurant usage and need better value. They see slower revenue, earnings growth in coming years.
XLY last traded at $53.17, down 0.03%.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'
- S&P 500 may pull back before midterms, but Citi says buy the dip
Create E-mail Alert Related Categories
ETFsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
