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 reports recurring developments for a full-service restaurant portfolio that includes Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Chuy's, Seasons 52 and Eddie V's. Company updates commonly cover quarterly sales, same-restaurant sales, restaurant-level segment profit and results across Olive Garden, LongHorn Steakhouse, Fine Dining and Other Business.
DRI news also includes dividend declarations, share repurchases, fiscal outlook updates, conference-call scheduling and brand portfolio decisions. The company's releases frequently discuss food and beverage sales, labor and restaurant expenses, marketing costs, acquisition integration and changes in how segment profit is presented.
Darden Restaurants (NYSE: DRI) and Uber Technologies (NYSE: UBER) have announced an expansion of their partnership, with Cheddar's Scratch Kitchen becoming the next Darden brand to test on-demand delivery. The pilot program is currently running in 10 Cheddar's restaurants, allowing customers to order delivery directly through the Cheddar's website and app, while Uber Direct manages deliveries through their national network.
This expansion follows the successful implementation of delivery services at Olive Garden. According to Chris Chang, Darden's Chief Information Officer, the company gained valuable insights from the initial Olive Garden pilot, and its success encouraged them to extend delivery services to Cheddar's. Cheddar's plans to expand the delivery service more widely across their system following a successful pilot phase.
Darden Restaurants (NYSE:DRI) reported strong fiscal Q3 2025 results with total sales increasing 6.2% to $3.2 billion, driven by a 0.7% same-restaurant sales growth and expansion through the acquisition of 103 Chuy's restaurants and 40 net new locations. The company posted adjusted diluted earnings per share of $2.80, up 6.9% year-over-year, excluding Chuy's integration costs.
The Board declared a quarterly dividend of $1.40 per share, payable May 1, 2025. During Q3, Darden repurchased 0.3 million shares for $53 million, with $548 million remaining under the current authorization. The company updated its fiscal 2025 outlook, projecting total sales of approximately $12.1 billion, same-restaurant sales growth of 1.5%, and adjusted EPS guidance of $9.45-$9.52.
Authentic Restaurant Brands (ARB) has announced the addition of Tavern in the Square to its portfolio through the recapitalization of Broadway Hospitality Group. This marks ARB's fifth acquisition in five years, growing the platform to approximately $1 billion in annual revenue and over $150 million in EBITDA.
In a leadership transition, Alex Macedo has been appointed Chairman and CEO, replacing Felipe Athayde, while Jon Howie joins as CFO from Chuy's Holdings. ARB's portfolio now includes regional brands: Primanti Bros., P.J. Whelihan's, Mambo Seafood, Pollo Tropical, and Tavern in the Square.
The New England-based Tavern in the Square will receive operational support, strategic capital, and technological resources from ARB to drive growth in core and adjacent markets, while maintaining its brand integrity and local dining experience.
Darden Restaurants (NYSE: DRI) has announced it will release its fiscal 2025 third quarter financial results before market opening on Thursday, March 20, 2025. The company will hold 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 host a Q&A session. A replay of the call will be made available for those unable to attend the live broadcast.
Darden Restaurants (NYSE:DRI) reported strong Q2 FY2025 results with total sales increasing 6.0% to $2.9 billion, driven by a 2.4% same-restaurant sales growth and the addition of 103 Chuy's restaurants plus 39 net new locations. LongHorn Steakhouse led performance with 7.5% same-restaurant sales growth, while Fine Dining saw a 5.8% decline.
Adjusted diluted earnings per share reached $2.03, up 10.3% year-over-year, excluding Chuy's transaction costs. The company repurchased $142 million in common stock and declared a quarterly dividend of $1.40 per share. For fiscal 2025, Darden updated guidance to approximately $12.1 billion in total sales and adjusted EPS of $9.40-$9.60.
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.
S&P Dow Jones Indices announced index changes effective prior to the open on Oct 11, 2024. DocuSign (DOCU) will be added to the S&P MidCap 400, MDU Resources (MDU) will move from the MidCap 400 to the S&P SmallCap 600, and Chuy's Holdings (CHUY) will be deleted from the SmallCap 600.
The release notes Darden Restaurants (DRI) is acquiring Chuy's, pending final closing conditions, and MDU Resources announced an intended spin-off later this month.
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