Posted on 05/17/2014 4:37:41 PM PDT by rickmichaels
America's changing eating habits are killing Red Lobster.
The chain's parent company, Darden Restaurants, announced on Friday it was selling Red Lobster to a private-equity firm for $2.1 billion after years of sagging sales. While it may sound strange to call a chain with such a high price tag "dying," much of that $2.1 billion covers Red Lobster's real estate. What's left of the brand's value is "fairly minimal," Sterne Agee analyst Lynne Collier wrote in a note.
The cheddar-biscuit purveyor's demise is being hastened by a growing American preference for micro-managing meals that can be scarfed down quickly. The era of families sitting down to a meal conceived by food scientists and prepared in a kitchen they can’t see is fading. That is bad news for a host of other chains, including Olive Garden, which Darden still owns.
"Even as consumer spending has improved, many consumers have still been less willing to spend on sit-down meals," noted a recent report from market research firm IBISWorld. "Instead, consumers have shown a preference for cheaper fast-casual concepts.”
(Excerpt) Read more at huffingtonpost.com ...
I just find it hard to get my money’s worth there..
Sorry HuffPo, but that ain't true.
People can't afford to eat out anymore thanks to Obama and Obamacare.
Even the local taverns and mom-and-pop family diners are suffering.
Both OG and RL are glorified fast food purveyors.
When I worked for a telecom and had to go through both kitchens I saw enough to tell friends.Stay away
Red Lobster and Olive Garden always seem busy, and in my neck of the woods, family groups are the norm.....
Not to mention far cheaper. If we go out, it is for something we do not know how to cook ourselves.
Their food is crappy!
That and the fact that Michelle Obama pronounced she has stock in these chains, I do believe. I vowed never to eat at Longhorn, Red Lobster (particularly on crab leg night) or Olive Garden.
Much better and cheaper to eat at home. When conservatives get back into office, then I might consider eating out more than once or twice a year.
The low information soccer moms feed their children a steady diet of mcdonalds and then cram them full of ADHD and anti-depressant meds.
Good point.
Come grill time I can shame any place in town.
The reason why Red Lobster is dying is due in large part to HORRIBLE service. Last time we were there, it took over 10 minutes for a waitress to come to our table to tell us someone would later be our waitress. Another ten minutes and I asked if we could at least have menus to look at. Minutes pass and I again ask for menus and am told they are still looking for them. At that point we split, NEVER to return.
Too much salt in frozen food?
Some people who study lobsters say lobsters are as intelligent as octopuses, which I find hard to believe.
We use to love going there, but something changed (food quality), and got more expensive, so don’t go anymore.
Seems like the same is happening with Olive Garden, too.
We have this about once or twice a year, so we just look for more mom and pop type outfits; cheaper and more filling.
I have eaten out 2 times that I can recall in the last 20 years. Once was at Red Lobster for my Brother-in-Law’s retirement meal.
I ordered everything I could think of that I wanted and it was great. About 5 years ago, I was moving and had to eat lunch in town. I tried McDonald’s and it was awful. Nothing like I remember it being when I was young.
Oh yeah, the food is second rate too.
I say: Fire up the Barbie!
I thought posting from this publication was completely banned?
You nailed it, right out of the gate. I miss Crabby Mondays, ‘though.
The article offers Chipotle as the new way diners dine. No thanks!! Chipotle makes everyone in our family have a sick feeling, even when eating super light.
Grilling at home is best ;)
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