Darden Restaurants'"stellar quarter" of strong sales growth is one of the signs that the U.S. economy is far from a recession, CNBC's Jim Cramer said Monday.
Lee told stockholders that same-store sales at Olive Garden, which has 2,100 restaurants in all 50 states, was up 4.3 percent thanks to the franchise's decision to add 50 percent more meat to its Chicken Alfredo and strong consumer spending. He said the 2018 tax breaks did not play a large factor in sales growth.
On top of strong sales, Darden mitigated its year-over-year labor costs and turnover, with the backdrop of 4 percent wage inflation, Cramer noted. He emphasized that investors should study companies' fundamentals to find and buy stocks that are being dragged down by the sell-off tsunami without warrant.
Surprise that Cramer is perpetuating bullish rhetoric.
They wouldn't ever let us know until the Recession cat is already out of the bag