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Analyst

Jim Sanderson

Northcoast Research · covers Consumer Cyclical, Communication Services

Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q3 (7 quarters; questions recorded in 6).

Questions
10on tracked calls
Challenge rate
0%none of 10 questions
Companies
3questioned at least once
Reporting periods
6with questions

These figures cover the whole profile: every tracked question, all reporting periods.

How to read these numbers

Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.

Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.

No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.

Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.

Small samples. Profiles with fewer than 10 questions are marked Limited sample.

Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.

Questions asked

Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.

Showing 10 of 10 questions from 3 companies

DRIDarden Restaurants8 questions · 5 reporting periods · 0 of 8 challenging
DRI company page →

Calendar 2026 Q2

On Olive Garden, the lighter portions mix headwind was 80 basis points in the quarter. How do you see that evolving

PricingProduct LaunchTranscript · FY2026 Q4 →
Show response

Raj said the 80 bps headwind likely peaked; Q1 YoY 50-60 bps, working down as the launch laps through the year.

Calendar 2025 Q4

Anything to call out that's notable about the demographics

Show response

Rick said not enough data yet with only partial rollout and 1.5% of sales. Need more time and tokens for demographic analysis.

Are they exceeding your expectations for the current time frame

Show response

Rick confirmed record Thanksgivings in fine dining/reservation brands. Holiday bookings strong.

Calendar 2025 Q3

have you discussed what percentage of sales mix was incremental

Product LaunchRevenue GrowthTranscript · FY2026 Q1 →
Show response

Rick confirmed approximately 50% incrementality outside of promotional periods at both Olive Garden and Cheddar's. During free delivery, some trade-over from pickup expected.

does that mean that the smaller portions and the promotions aren't having any meaningful impact on check

Show response

Raj confirmed lighter portions have negative check impact but offset by positive entree mix (Calabrian Steak and Shrimp at higher price had strong preference).

Calendar 2025 Q2

did the incrementality, the 40% to 50%, was that consistent

Product LaunchRevenue GrowthTranscript · FY2025 Q4 →
Show response

Rick confirmed consistent incrementality, though free delivery may have caused some trade-over from pickup. The commercial increased overall delivery sales.

what closure rate is implied for 2026

Geographic ExpansionCapital AllocationTranscript · FY2025 Q4 →
Show response

Raj confirmed FY2025 closures were above normal due to 5-year strategic plan review. No significant closures expected in FY2026.

Calendar 2025 Q1

how that impacted sales mix

Show response

Raj confirmed $12.99 Manicotti was low single-digit mix while the existing CYO $12.99 maintained its 9-10% range.

CAVACAVA Group, Inc.1 question · 1 reporting period · 0 of 1 challenging
CAVA company page →

Calendar 2026 Q3

Do you expect your free cash flow to be positive for the remainder of 2026?

Capex InvestmentCapital AllocationTranscript · FY2026 Q2 →
Show response

Sanderson asked about back-half free cash flow and CapEx beyond new stores; Tolivar expects full-year FCF to remain strong with some additional restaurant-enhancement CapEx.

DASHDoorDash1 question · 1 reporting period · 0 of 1 challenging
DASH company page →

Calendar 2025 Q1

are there any sectors, geographies or demographic groups within the DoorDash U.S. restaurant business that grew ahead of your expectations

DemandRevenue GrowthTranscript · FY2025 Q1 →
Show response

Ravi said growth stable across cohorts over last 5-6 quarters. Both low and high income cohorts performing well. Business has been resilient across demand cycles.

Challenge rate by company

Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.

CompanyQuestionsChallenge rate
DRI Darden Restaurants80%none of 8 questions
CAVA CAVA Group, Inc.1—Rate withheld: fewer than 3 questions
DASH DoorDash1—Rate withheld: fewer than 3 questions
  • DRI
    Darden Restaurants · 8 questions
    0%none of 8 questions
  • CAVA
    CAVA Group, Inc. · 1 question
    —rate withheld: under 3 questions
  • DASH
    DoorDash · 1 question
    —rate withheld: under 3 questions

Activity by reporting period

Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.

Questions by calendar reporting period
Calendar periodQuestionsChallenge rateCompanies
2025 Q120%none of 2 questions2
2025 Q220%none of 2 questions1
2025 Q320%none of 2 questions1
2025 Q420%none of 2 questions1
2026 Q1No questions recorded——
2026 Q210%none of 1 question1
2026 Q310%none of 1 question1
  1. 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 2 companies
  2. 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
  3. 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
  4. 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
  5. 2026 Q1No questions recorded
  6. 2026 Q21 question · challenge rate 0% (none of 1 question) · 1 company
  7. 2026 Q31 question · challenge rate 0% (none of 1 question) · 1 company

Topics

Topics tagged on this analyst’s questions.

  • Demand5
  • Pricing4
  • Product Launch3
  • Revenue Growth3
  • Capital Allocation2
  • Capex Investment1
  • Geographic Expansion1