Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

Delayed Quote. Delayed  - 07/22 10:04:08 pm
62.56 USD   +0.92%
07/21 DARDEN RESTAURA : loses property tax dispute, must pay $330,000 to O..
07/18DJStarbucks Widens Workers' Health-Insurance Options
07/07 DARDEN RESTAURA : ex-dividend day
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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
0
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 ben.rubin@dowjones.com

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DARDEN RESTAURANTS, INC.
07/21 DARDEN RESTAURANTS : loses property tax dispute, must pay $330,000 to Orange Cou..
07/18DJStarbucks Widens Workers' Health-Insurance Options
07/07 DARDEN RESTAURANTS, INC. : ex-dividend day
07/05 DARDEN RESTAURANTS INC : Change in Directors or Principal Officers, Amendments t..
07/01 DARDEN RESTAURANTS : Reports Fiscal 2016 Fourth Quarter And Full Year Results; R..
06/30 S&P 500 MOVERS : Dri, hban
06/30 DARDEN RESTAURANTS : serves up bigger profits but growth weak at Olive Garden, L..
06/30DJDARDEN RESTAURANTS : Profit Climbs But Gives Downbeat View
06/30 DARDEN RESTAURANTS INC : Results of Operations and Financial Condition, Financia..
06/30 DARDEN RESTAURANTS : profit climbs, but outlook disappoints
More news
Sector news : Restaurants & Bars - NEC
03:26aDJFACEBOOK : Munich Shooter Likely Bought Pistol on Dark Net
07/22 S&P 500 companies start facing up to the potential Brexit costs
07/22DJMCDONALD : Lone Gunman's 'Rampage' Kills Nine
07/22DJSTARBUCKS : Cuts Sales Forecast -- WSJ
07/22DJAsia Shares Decline After ECB Stands Pat
More sector news : Restaurants & Bars - NEC
News from SeekingAlpha
07/18 Insider Weekends - July 15, 2016
07/18 Take A Bite Out Of Darden Restaurant's Stock
07/12 INSIDERINSIGHTS.COM DAILY ROUND UP 7 : Kingsway Financial, Nuveen Global Equity ..
07/12 Darden Restaurants - Hard Not To Like Management, Share Value More Ambiguous
07/08 Canaccord Genuity warns on restaurant sales
Advertisement
Financials ($)
Sales 2017 7 119 M
EBIT 2017 711 M
Net income 2017 496 M
Finance 2017 11,6 M
Yield 2017 3,58%
P/E ratio 2017 16,15
P/E ratio 2018 14,62
EV / Sales 2017 1,11x
EV / Sales 2018 1,06x
Capitalization 7 928 M
More Financials
Chart DARDEN RESTAURANTS, INC.
Duration : Period :
Darden Restaurants, Inc. Technical Analysis Chart | DRI | US2371941053 | 4-Traders
Full-screen chart
Technical analysis trends DARDEN RESTAURANT...
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 70,0 $
Spread / Average Target 12%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Eugene I. Lee President, Chief Executive Officer & Director
Charles M. Sonsteby Chairman
Ricardo Cardenas Chief Financial Officer & Senior Vice President
Margaret Shân Atkins Independent Director
Jean M. Birch Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DARDEN RESTAURANTS, IN..-1.70%7 928
STARBUCKS CORPORATION-3.55%84 818
COMPASS GROUP PLC24.43%31 773
SODEXO12.99%17 185
RESTAURANT BRANDS INTE..16.62%10 579
WHITBREAD PLC-15.18%8 937
More Results