Advan Notable Hits: Darden Restaurants, Inc. (DRI)

Notable Hit 1: (DRI:NYSE) On Thursday June 20, 2024 Darden Restaurants, Inc. (DRI) posted revenues of $2.96 bn slightly missing the analysts estimate by 0.6% and in the same direction as Advan's forecasted sales. Advan's data showed a 7.3% increase YoY in foot traffic to its restaurants (subsidiaries included) in Q1 2024; the company's revenue increased 6.8% YoY. As a result, the stock opened up 3.6% from previous close. Advan's footfall data has a correlation of 0.97 on a YoY basis with DRI's top-line revenue over the last 17 quarters.

Advan Hits: DRI correlation traffic vs revenue

Follow us on Twitter and LinkedIn.

About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.