Diners are ditching pricey fast food for casual-dining chains, CEO of Olive Garden's parent company says

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Florida, Orlando, Chili's Grill & Bar, restaurant entrance.
Rick Cardenas, the CEO of Darden Restaurants, said Chili's and Applebee's seem to be having some success competing with fast-food chains.

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I tried the same steak at Texas Roadhouse and LongHorn Steakhouse and can see why the younger brand is seemingly immune to the slowdown in casual dining

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A composite image of Dominick Reuter in front of a Texas Roadhouse and a Longhorn Steakhouse
The great Texas steak-off: I went to LongHorn Steakhouse and Texas Roadhouse to see which chain did the best bone-in rib eye.

Dominick Reuter/Insider

People buy more steak in restaurants when beef prices are high because they're scared to cook it at home and mess up, restaurant boss says

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Person using spatula to cook steak in frying pan
The CFO of a restaurant-chain owner said customers often buy more steak at restaurants instead of risking messing it up themselves at home when beef is expensive.

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Olive Garden's owner says lower-income customers are cutting back while richer diners are eating out more

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A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois.

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