Welcome to our dedicated page for Darden Restaurants news (Ticker: DRI), a resource for investors and traders seeking the latest updates and insights on Darden Restaurants stock.
Darden Restaurants Inc. (NYSE: DRI) operates one of North America's largest full-service restaurant portfolios, including Olive Garden and LongHorn Steakhouse. This news hub provides investors and industry observers with official updates on corporate strategy, financial performance, and brand developments.
Access timely announcements including quarterly earnings reports, leadership changes, and operational initiatives. Our curated collection features press releases about menu innovations, sustainability efforts, and market expansion plans across Darden's family of brands.
Key updates cover strategic acquisitions, restaurant openings, and corporate governance matters. Track the company's progress in maintaining operational excellence while adapting to evolving consumer preferences in casual and fine dining segments.
Bookmark this page for verified information directly from Darden Restaurants and trusted financial sources. Check regularly for updates on dividend declarations, supply chain initiatives, and other material developments affecting DRI's market position.
Darden Restaurants (NYSE: DRI) has appointed Daryl Kenningham to its Board of Directors, expanding the board from nine to ten members. Kenningham, 60, currently serves as President and CEO of Group 1 Automotive, bringing extensive experience in multi-unit operations and leadership of large, dispersed organizations.
Prior to his current role at Group 1 Automotive, which he assumed in January 2023, Kenningham served as the company's Chief Operating Officer and President of U.S. Operations. He also serves on the Board of Directors for Group 1 Automotive and the Greater Houston Partnership.
Darden Restaurants (NYSE: DRI) has announced it will release its fiscal 2025 second quarter financial results before market opening on Thursday, December 19, 2024. The company will host a conference call at 8:30 am ET on the same day, where CEO Rick Cardenas and senior management will discuss the quarterly results and conduct a Q&A session. The call will be accessible via web broadcast and telephone, with a replay available after the live event.
Darden Restaurants (NYSE:DRI) has completed the acquisition of Chuy's Holdings in an all-cash transaction valued at approximately $605 million.
The acquisition was approved by a majority of Chuy's Holdings' stockholders on October 10, 2024, following the merger agreement announced on July 17, 2024. Darden financed the acquisition with proceeds from a $400 million offering of 4.350% senior notes due 2027 and a $350 million offering of 4.550% senior notes due 2029, issued on October 3, 2024.
Chuy's, founded in 1982 in Austin, Texas, operates over 100 restaurants across 15 states, offering authentic Tex-Mex inspired dishes in a unique atmosphere. With this acquisition, Chuy's joins Darden's diverse portfolio of brands, including Olive Garden and LongHorn Steakhouse.
As a result of the merger, Chuy's Holdings' common stock has ceased trading on Nasdaq.
Darden Restaurants (NYSE: DRI) and Uber Technologies (NYSE: UBER) have announced an exclusive multi-year delivery partnership, starting with Olive Garden in late 2024. The collaboration will enable on-demand delivery through Olive Garden's channels, powered by Uber Direct. A pilot program will begin in late 2024, with national expansion expected by May 2025.
Key points:
- Guests can order delivery via Olive Garden's website and app
- Service will be available at over 900 company-owned locations across the U.S.
- Olive Garden retains guest data and insights
- Custom integration aims to preserve team member and guest experience
- Partnership addresses growing demand for home delivery while maintaining Olive Garden's competitive advantages
Darden Restaurants (NYSE: DRI) reported its fiscal 2025 Q1 results, showing a 1.0% increase in total sales to $2.8 billion, driven by 42 net new restaurants. However, the company experienced a blended same-restaurant sales decrease of 1.1%. Adjusted diluted net earnings per share from continuing operations were $1.75, a 1.7% decrease from the previous year. LongHorn Steakhouse was a bright spot with 3.7% same-restaurant sales growth, while Olive Garden saw a 2.9% decline. The company repurchased $172 million of its outstanding common stock and declared a quarterly cash dividend of $1.40 per share. Despite falling short of Q1 expectations, Darden reiterated its fiscal 2025 outlook, projecting diluted net earnings per share from continuing operations of $9.40 to $9.60.
Darden Restaurants (NYSE: DRI) has announced its plans to release its fiscal 2025 first quarter financial results on Thursday, September 19, 2024, before the market opens. This will be followed by a conference call at 8:30 am ET on the same day. CEO Rick Cardenas and other senior management will discuss the first quarter results and conduct a Q&A session.
Investors and analysts can access the live conference call via the internet or telephone. The webcast will be available at https://event.choruscall.com/mediaframe/webcast.html?webcastid=PaNJ6RaT, while those preferring to dial in can use the number 877-407-9219. A replay of the call will be made available shortly after its conclusion for those unable to attend the live broadcast.
Darden Restaurants (NYSE:DRI) has announced its acquisition of Chuy's Holdings (Nasdaq: CHUY) in an all-cash transaction valued at approximately $605 million. Darden will acquire all outstanding shares of Chuy's for $37.50 per share, representing a 40% premium to the 60-day volume weighted average price. Chuy's, a Tex-Mex restaurant chain founded in 1982, will complement Darden's portfolio of brands including Olive Garden and LongHorn Steakhouse.
The acquisition is expected to be neutral to Darden's diluted net earnings per share for fiscal 2025 and accretive by 12 to 15 cents in fiscal 2027. Darden anticipates pre-tax net synergies of about $15 million by the end of fiscal 2026. The transaction, unanimously approved by both companies' boards, is expected to close in Darden's fiscal second quarter, subject to customary conditions.
Darden Restaurants (NYSE: DRI) reported its Q4 and fiscal 2024 results, highlighting a 6.8% increase in Q4 sales to $3.0 billion, attributed to new restaurant openings including 80 Ruth's Chris Steak House locations. Same-restaurant sales were flat overall, with Olive Garden down 1.5% and LongHorn Steakhouse up 4.0%. Adjusted diluted EPS for Q4 rose to $2.65. Fiscal 2024 saw an 8.6% rise in total sales to $11.4 billion and an adjusted diluted EPS of $8.88, up 11.0%. Darden also declared a 6.9% increase in its quarterly dividend to $1.40 per share and announced a fiscal 2025 sales outlook between $11.8 to $11.9 billion with an EPS range of $9.40 to $9.60.
Darden Restaurants (NYSE: DRI) will release its fiscal 2024 fourth quarter financial results on June 20, 2024, before the market opens.
The company will host a conference call at 8:30 am ET on the same day with CEO Rick Cardenas and other senior management to discuss the results and engage in a Q&A session.
The conference call can be accessed live via the Internet or by dialing 877-407-9219. A replay will be available shortly after the call.
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