Restaurant News Resource - Darden Restaurants Restaurant Industry News

Second quarter diluted net earnings per share from continuing operations were 41 cents, a 24% decrease from the 54 cents per diluted share in the second quarter of last year. Net earnings from continuing operations in this year's second quarter were $54.1 million and sales were $1.83 billion, which compare to net earnings from continuing operations of $75.8 million and sales of $1.73 billion in the second quarter last year.

Revises Fiscal Year 2012 Earnings Outlook; and Completes the Acquisition of Assets of Eddie V's Restaurants, Inc.

Transaction Adds Leading Luxury Seafood Brands to Darden's Specialty Restaurant Group, Boosting the Group's Already Significant Contribution to Long-Term Sales and Earnings Growth

First quarter total sales from continuing operations of $1.94 billion were a 7.5% increase from the prior year. The increase reflects (1) combined same-restaurant sales growth of 2.8% for Olive Garden, Red Lobster and LongHorn Steakhouse, exceeding an estimated 1.0% increase for the Knapp-Track™ benchmark of U.S. same-restaurant sales excluding Darden; (2) same-restaurant sales growth of 5.1% for the Company's Specialty Restaurant Group; and (3) the operation of 71 net new restaurants compared to the first quarter last year. In the first quarter, U.S. same-restaurant sales increased 10.7% at Red Lobster and 4.8% at LongHorn Steakhouse, and decreased 2.9% at Olive Garden.

Reiterates Fiscal Year 2012 Earnings Outlook; Increases Fiscal Year 2012 Share Repurchase Target

Darden Restaurants is taking its commitment to sustainability to a new level. The company announced today that it will soon begin installation of 1.1 megawatts of solar panel roofing at its Restaurant Support Center (RSC) in Orlando.

Darden Restaurants, Inc. (NYSE: DRI) today announced it has entered into a formal area development agreement with CMR to develop and operate Darden's Red Lobster, Olive Garden and The Capital Grille brands in Mexico.

Net earnings from continuing operations in this year's fourth quarter were $138.0 million and sales were $1.99 billion, which compare to net earnings from continuing operations of $116.0 million and sales of $1.86 billion in the fourth quarter last year.

New Restaurants Create More than 350 Local Jobs, Feature Sustainable Design Elements

After seven years as President of Red Lobster, Kim Lopdrup will become SVP of Business Development overseeing Darden's long range growth plans and will report to Darden's Chairman and Chief Executive Officer, Clarence Otis.