Rick Cardenas, CEO of Darden Restaurants, noted that consumers are shifting from fast food to sit-down restaurants due to high fast food prices and inflation concerns.
With 78% of Americans deeming fast food a "luxury," and 60% planning to cut back on burgers and fries due to costs, the market is shifting.
Fast-food chains have reacted to consumer backlash against pricing by introducing value meals; however, casual dining is capitalizing on the public's distrust of fast food.
Bank of America analysts believe that by highlighting competitive pricing and big portions at Olive Garden, Darden can strengthen its market position.
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