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 ...
RL has had a decades-long reputation for being overpriced and providing lousy service and low quality food. It was no surprise that such types would cozy up to the Obamas as a way of "improving" their reputation and sales.
The Obamas are the kiss of death to any business or business person who foolishly consorts with them because as idiots, they believe they can make a deal with the devil and come out ahead.
Red Lobster is a dated concept. The restaurants are dank and the food is passe’.
They needed to look at stand alone restaurants, copy what they do right and innovate .
“My preference is to become a better cook at home. I love it when the wife tells me something I did is as good or better than restaurant quality.
Not to mention far cheaper. If we go out, it is for something we do not know how to cook ourselves.”
Exact same situation in my household. I’m a great cook and use only fresh, wholesome, high-quality ingredients. Only thing we go out for is sushi.
Excellent points. You have caused me to re-evaluate my opinion.
The DRI bond I bought in 2010 is paying 6.145% YTM. Can’t complain about that.
I don’t eat at their restaurants. I’m in it just for the money :)
Wow, that dude worked at a fish and chips place, before he became a police detective in Beverly Hills..............
I think you have to develop a taste for Mexican goulash slopped into a bowl.
RL still has a good double scotch in the bar/S sort of....
“The low information soccer moms feed their children a steady diet of mcdonalds and then cram them full of ADHD and anti-depressant meds.”
Wouldn’t that be low-information, low-income/welfare moms?
Around here, soccer moms only make sure their precious babes get only the best of everything.
support locally owned businesses that drive your community economy
Oops,should be 10 restaurants in post #52.
.
No! Not THAT Barbie; Ken maybe.
I think part of it changed when we started having more Saturday evening services. I do know when I was younger you always dressed up when you went to church and I had an array of Sunday dresses, hats and sparkling clean white gloves.
At our Saturday evening services they serve pizza, cups of fresh fruit, sweet tea, lemonade and coffee. People throw money in a dish or not. Everyone pretty much comes as they are but the attire is clean and conservative, including that of a huge teenage group. Minister wears blue jeans and plaid shirt and music is provided by a rock band. Took me a bit to get used to it and I’m sure my mom would gave never even tried. But the church is always packed and he is the best Bible based minister I’ve ever had the pleasure of listening to. I always come away having learned so much and feeling full of the Holy Spirit.
Last weekend we had dedication of parents with their new babies. There were 21 new babies at our service alone, all with a male father and a female mother and all married to one another. Next weekend is baptism and there are lots and lots of new disciples for Christ.
It just happens to be what works in our area for this generation in order to get the message out. I have a difficult time even picturing our minister in a suite and tie.
I’m in complete agreement with you. When you’re in church, you’re in the house of the Lord...show some respect and reverence.
Now, if someone is poor and can’t afford anything but jeans and a tee shirt, that’s one thing...make sure the clothes are clean and that you are groomed, and come on in. But the sloppiness, and the skin showing....just no.
“Like eating in a warehouse”
I can’t eat at any of the places because they contain nothing but hard surfaces, so the noise inside those places just continues to bounce around forever without ever attenuating, and it sounds to me like I’m eating inside a jet engine. I actually think the sound levels are so high in those places that they damage people’s hearing.
-PJ
I agree.
I call it the “Disney bus syndrome”
Our hotel was on the first stop of the bus loop at Disney World. It was pretty quiet on the bus. As more and more people got on, everyone had to talk louder and louder to be heard.
By the time the bus is full, basically everybody is shouting.
About 5 years ago, my wife and I went out to lunch at Red Lobster after church. They were offering all you can eat shrimp.After a couple plates, I began feeling nauseous, and made it to the men’s room just in time. I then splashed some cold water on my face,walked back to our table, and had two more plates. I don’t think I’ve been there since.
“Went to Chipotle once...
VERY poor selection of food. Will never go back.
I think you have to develop a taste for Mexican goulash slopped into a bowl.”
Mexican food is poverty food. Beans and rice, rice and beans, cheese, a bit of meat. Taco, burrito, enchilada, frijoles, it’s all the same poor mans dinner. No way I’m buying into gourmet and Mexican food.
Here is a public service announcement.
Make sure you have activated charcoal in your cabinet.
It is a MIRACLE cure for food poisoning. They use it in the ER.
Example: Seafood buffet. Definite food poisoning. As soon as I started to feel it I started with the charcoal. My friend was really sick for two days. I was better within 30 minutes and fine by the next morning.
Now, any time my stomach starts roiling from anything I take one just to be safe.
BUT it will absorb medicine you take too.
Can give to dogs, too, if they eat chocolate. That is why I had it on hand in the first place.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.