If you enjoy eating at Olive Garden, get ready to pay more for your meal.
Olive Garden had a 1% increase in menu prices last year. Now, Darden Restaurants, the company that owns and operates restaurants Olive Garden and Longhorn Steakhouse, says they will increase prices company-wide by an average of 2% to 3% over the next year, according to reports from ABC 7 and Mirror US.
Darden executives are citing a decrease in sales and loss of customers as the reason for the price hike. During the company’s earnings call last week, Darden executives attributed the sales slump to the financial stress of inflation.
While Olive Garden and restaurant chains are increasing their prices, fast food restaurants are battling to keep customers by offering discounts and meal deals.
McDonald’s recently launched a $5 meal deal including a a McDouble cheeseburger or a McChicken sandwich, small french fries, 4-piece chicken nuggets and a small soft drink. Following the lead of dast food chains, Starbucks recently announced a $5 drink and sandwich combo. Customers can order any tall, 12-ounce iced or hot coffee or tea with a butter croissant for $5, or upgrade to anybreakfast sandwich — sausage, cheddar and egg sandwich; bacon, gouda and egg sandwich; turkey bacon, cheddar and egg white sandwich; or chicken, maple butter and egg sandwich — for $6.
