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 has announced a leadership transition, with CEO Eugene I. Lee, Jr. elected as Chairman of the Board effective January 4, 2021. He succeeds Charles M. Sonsteby, who will serve as Lead Independent Director. This move aims to enhance execution of the company's long-term strategy amidst industry changes. Additionally, Ricardo Cardenas has been appointed President and COO, while Rajesh Vennam becomes CFO, recognizing their contributions and broadening their responsibilities.
Darden Restaurants (NYSE:DRI) reported a 19.4% decline in total sales to $1.66 billion for Q2 2021, primarily due to a 20.6% drop in same-restaurant sales. Segment performance revealed significant declines: Olive Garden down 19.0%, Fine Dining down 30.2%, and Other Business down 27.7%. However, diluted net earnings per share increased to $0.74 from $0.21 last year. The board declared a $0.37 quarterly cash dividend, with guidance indicating Q3 sales at 65%-70% of last year's figures. The company plans to open 35-40 new restaurants in FY 2021.
Darden Restaurants (NYSE: DRI) will announce its fiscal 2021 second quarter financial results on December 18, 2020, before market opening. A conference call with CEO Gene Lee and senior management will take place at 8:30 am ET, where they will discuss the results and answer questions. For those unable to attend live, a replay will be accessible shortly after the call. Darden operates notable brands such as Olive Garden and LongHorn Steakhouse. More details can be found on their official website.
Darden Restaurants (NYSE:DRI) reported Q1 2021 financial results, showing total sales of $1.53 billion, a 28.4% drop compared to the previous year, with same-restaurant sales decreasing 29.0%. Notable performance declines were seen across segments: Olive Garden at (28.2)%, Fine Dining at (39.1)%, and LongHorn Steakhouse at (18.1)%. The company posted diluted net earnings per share of $0.28, down from $1.38 last year. Darden reinstated a cash dividend of $0.30 per share, payable November 2, 2020.
Darden Restaurants, Inc. (NYSE:DRI) will release its fiscal 2021 first-quarter financial results on September 24, 2020, before the market opens. A conference call will follow at 8:30 am ET, featuring CEO Gene Lee and senior management discussing the results. For those unable to attend live, a replay will be available shortly after. Darden, known for its diverse restaurant brands including Olive Garden and LongHorn Steakhouse, aims to provide insightful updates on its financial performance during this call.
Darden Restaurants (NYSE: DRI) reported financial results for Q4 and FY 2020, revealing a 43% drop in total sales to $1.27 billion due to a 47.7% decline in same-restaurant sales.
The diluted net loss per share was $3.85 compared to earnings of $1.67 last year, with adjusted loss per share at $1.24.
For FY 2020, total sales fell 8.3% to $7.81 billion. The company reported a liquidity position of over $1.5 billion and anticipates Q1 FY 2021 sales around 70% of the prior year.