Darden Restaurants (DRI) Updates on Q2 Comps; Sees Q2 EPS at Upper-End of Range
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Revenue Growth %: +6.8%
Financial Fact:
Dividends declared per common share: 0.56
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Darden Restaurants (NYSE: DRI) reported U.S. same-restaurant sales for the five-week September fiscal month ended September 28, 2014. This period is the first month of Darden's fiscal 2015 second quarter.
Same-Restaurant Sales | Fiscal September 2015 | Fiscal September 2014 |
Olive Garden® | +0.6% | -2.6% |
LongHorn Steakhouse® | +3.2% | +2.9% |
The Capital Grille® | +6.4% | +1.5% |
Yard House® | +3.8% | -0.6% |
Seasons 52® | +1.3% | -3.2% |
Bahama Breeze® | -0.3% | +1.7% |
Eddie V's® | +4.0% | +3.8% |
"We are pleased with the solid year-over-year same-restaurant sales increases we achieved in September at most of our brands, including at Olive Garden," said Gene Lee, President and Chief Operating Officer of Darden. "These increases further demonstrate that Darden's operational improvements are taking hold. In addition to Olive Garden's turnaround, we are driving continued growth at LongHorn Steakhouse and our Specialty Restaurant brands. We thank Darden's employees across the Company for their unwavering focus on providing a superior guest experience, which has supported these results. While we still have work to do, we look forward with confidence in the actions we are taking and in Darden's success."
Fiscal 2015 Second Quarter Financial Outlook
The Company also announced that it expects adjusted diluted net earnings per share from continuing operations for the second quarter of fiscal year 2015 to be at the upper end of its previously announced range of $0.26 to $0.28.
*** Consensus EPS estimates are at $0.26
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