Two major consumer-facing companies will provide fresh earnings evidence on Thursday, September 24, as Darden Restaurants (NYSE: DRI) reports before the U.S. market opens and Costco Wholesale (NASDAQ: COST) reports after the close.
The timing gives investors two different views of spending: Darden offers a read on discretionary dining demand, while Costco provides a broader look at household purchases across its warehouse business.
Darden’s investor-relations calendar confirms its fiscal 2027 first-quarter release is scheduled before the open, followed by an 8:30 a.m. ET conference call, while Costco’s official calendar lists its fiscal 2026 fourth-quarter earnings results and call for September 24 Darden’s September 24 earnings announcement Costco’s Q4 2026 earnings calendar.
The backdrop is important. The Federal Reserve raised its target federal funds range by a quarter percentage point on September 16 to 3.75%–4%, saying economic activity was expanding at a solid pace and domestic spending remained resilient while inflation stayed elevated the September 16 FOMC statement.
At the same time, the latest official Treasury data show the 10-year yield at 5.11% on September 23, up from 4.96% on September 22, keeping longer-term borrowing costs under pressure the Treasury’s September 23 yield-curve data. Investozora’s Treasury Yields Today, September 24, 2026 tracks that move, while Stock Market Today, September 23, 2026 provides the preceding session’s market context.
Darden: restaurant demand and margins in focus
Darden enters the report with a strong fiscal 2026 finish but a more moderate outlook for the new year. In its June 25 results, the company reported fourth-quarter sales of $3.72 billion, up 13.7% year over year, while consolidated same-restaurant sales increased 4.6%.
LongHorn Steakhouse posted 9.5% same-restaurant sales growth, compared with 2.4% at Olive Garden Darden’s fiscal 2026 results filed with the SEC. For fiscal 2027, management previously guided to total sales of $13.60 billion to $13.75 billion and same-restaurant sales growth of 2.5% to 3.5% .
The market reference point for Thursday is roughly $2.05 of adjusted earnings per share on $3.21 billion of revenue, according to the latest earnings-calendar estimates . The more important questions are whether restaurant traffic and same-store sales remain healthy across Darden’s brands and how food, labor and other operating costs affect margins.
A stronger sales number alone would not establish that consumers are broadly healthier financially; it would describe Darden’s own customer base and business mix.
Costco: sales are already known, earnings are not
Costco has already disclosed much of its fourth-quarter sales picture. Its September 2 release showed August net sales of $23.70 billion, up 9.9% from a year earlier, while fourth-quarter sales for the 16 weeks ended August 30 reached $93.9 billion, up 11.3% Costco’s August sales release. U.S. comparable sales increased 9.0% in August and 10.7% for the 16-week quarter, giving investors a relatively clear view of sales momentum before the full earnings release.
That makes Thursday’s Costco report more about what the sales growth translated into financially: earnings, profitability and management commentary surrounding the new fiscal year. The current market consensus calls for approximately $6.55 in earnings per share and $94.85 billion in revenue, figures that remain estimates until Costco reports . Costco’s official calendar places the Q4 earnings event on September 24 Costco’s official earnings schedule.
The broader consumer picture is also mixed rather than one-directional. The Census Bureau reported that August retail and food-service sales rose 1.2% month over month to $773.9 billion, although those figures are dollar sales and are not adjusted for price changes the Census Bureau’s August retail-sales release. Investozora previously examined that distinction in Fed Rate Decision: Retail Sales Jump 1.2%.
For readers watching these stocks today, the key distinction is simple: Darden’s morning report and Costco’s after-hours report will add company-specific evidence about consumer demand, but neither result by itself is a complete measure of U.S. consumer spending.
What matters next is how sales, traffic, margins and management outlook compare with the companies’ previous results and stated expectations. Any market reaction will remain a separate market development rather than proof that either company’s results caused a particular move.
Market snapshot: Wednesday, September 23 ended with the S&P 500 down 0.75%, the Nasdaq Composite down 1.13% and the Dow down 0.68%, while the 10-year Treasury yield finished at 5.11% according to official Treasury data and market reporting.
