Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Darden Restaurants, Inc.    DRI

Delayed Quote. Delayed  - 06/28 10:04:21 pm
91.56 USD   -1.22%
06/27 Sprint, Darden Restaurants gain; T-Mobile, FactSet fall
06/27 DAILY DIVIDEND : Dri, ba, pmt, rgco
06/27 DARDEN CEO : Millennials still enjoy chains like Olive Garden
News SummaryMost relevantAll newsSector newsTweets 

Darden Restaurants, Inc. : Darden Net Down 37% on Weak Same-Restaurant Sales

share with twitter share with LinkedIn share with facebook
share via e-mail
12/20/2012 | 01:56pm CEST

Darden Restaurants Inc.'s (DRI) fiscal second-quarter profit fell 37% as same-restaurant sales at all three of the restaurant operator's major chains sank, led by Olive Garden's decline.

Darden, whose primary chains include Olive Garden, Red Lobster and LongHorn Steakhouse, earlier this month lowered its sales growth expectations for the year due to worse-than-expected second-quarter results.

The company began stumbling coming out of the recession, when its rivals offered deep discounts to attract attention, while it refrained from similar promotions to avoid hurting profit margins. In late 2010, Darden said it would shift its strategy--focusing more on low prices rather than the quality of its food in advertisements. But two years later, Darden is still struggling to find the right balance.

Meanwhile, Darden is turning to its specialty-restaurant group, which includes higher-end chains such as Capital Grille and Bahama Breeze, to help it expand. The company built up that business in August with its $585 million purchase of Yard House USA Inc., a pub-style chain with about 40 locations.

For the period ended Nov. 25, Darden reported a profit of $33.6 million, or 26 cents a share, down from $53.7 million, or 40 cents a share, a year earlier. Acquisition-related costs for Yard House hurt the bottom-line by about five cents. The company earlier this month had forecast 25 cents to 26 cents a share.

Sales rose 7% to $1.96 billion, just above predictions of $1.95 billion from analysts polled by Thomson Reuters.

By chain, same-restaurant sales fell 3.2% at Olive Garden--the company's biggest chain by revenue. At Red Lobster, same-restaurant sales were down 2.7%. LongHorn posted 0.8% lower same-restaurant sales.

Those three chains combined posted a same-restaurant sales decline of 2.7%.

Same-restaurant sales at the specialty restaurant segment grew 0.7%.

Shares of Darden, which affirmed its full-year guidance, closed Wednesday at $46.81 and were inactive premarket. The stock is up 2.7% this year.

Write to Ben Fox Rubin at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
06/27 Sprint, Darden Restaurants gain; T-Mobile, FactSet fall
06/27 DAILY DIVIDEND REPORT : Dri, ba, pmt, rgco
06/27 DARDEN CEO : Millennials still enjoy chains like Olive Garden
06/27 DARDEN RESTAURANTS : Mall adding another new restaurant
06/27 S&P 500 MOVERS : Stx, dri
06/27 DARDEN RESTAURANTS : Olive Garden resurgence drives higher Darden profits
06/27 MARKETS RIGHT NOW : Stocks drift in midday trading
06/27 DARDEN RESTAURANTS : tops Street 4Q forecasts
06/27 DARDEN RESTAURANTS INC : Results of Operations and Financial Condition, Financia..
06/27 DARDEN RESTAURANTS, INC. (NYSE : DRI) Files An 8-K Results of Operations and Fin..
More news
Sector news : Restaurants & Bars - NEC
06/28 China's Hony Capital targets food outlets expansion, starting in UK
06/21 WHITBREAD : first-quarter sales rise 7.6 percent
06/20 U.S. banks, corporations establish principles for cyber risk ratings firms
06/17 Seattle love, dread of activist investor help clinch Amazon M&A roles
06/16DJMCDONALD : International Olympic Committee End Partnership -- Update
More sector news : Restaurants & Bars - NEC
News from SeekingAlpha
06/28 Credit Suisse analyzes Darden Restaurants after earnings beat
06/27 Darden Restaurants' (DRI) CEO Gene Lee on Q4 2017 Results - Earnings Call Tra..
06/27 Darden Restaurants declares $0.63 dividend
06/27 Oliver Garden impresses for Darden in FQ4
06/27 Darden Restaurants beats by $0.03, beats on revenue
Financials ($)
Sales 2018 8 028 M
EBIT 2018 817 M
Net income 2018 562 M
Debt 2018 623 M
Yield 2018 2,62%
P/E ratio 2018 20,92
P/E ratio 2019 18,92
EV / Sales 2018 1,51x
EV / Sales 2019 1,44x
Capitalization 11 525 M
More Financials
Duration : Period :
Darden Restaurants, Inc. Technical Analysis Chart | DRI | US2371941053 | 4-Traders
Full-screen chart
Technical analysis trends DARDEN RESTAURANT...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 26
Average target price 91,7 $
Spread / Average Target -1,0%
Consensus details
EPS Revisions
More Estimates Revisions
Eugene I. Lee President, Chief Executive Officer & Director
Charles M. Sonsteby Chairman
Ricardo Cardenas Chief Financial Officer & Senior Vice President
Chris Chang Chief Information Officer & Senior Vice President
Margaret Shân Atkins Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
COMPASS GROUP9.73%33 698
SODEXO6.09%20 400
WHITBREAD4.95%9 341
More Results