Darden Restaurants (DRI) Reports Same-Restaurant Sales For March
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Price: $217.56 +1.42%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3%
Revenue Growth %: +5.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3%
Revenue Growth %: +5.5%
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Darden Restaurants (NYSE: DRI) reported U.S. same-restaurant sales results for the five- week March fiscal month ended April 2, 2006. This period is the first month of Darden's fiscal 2006 fourth quarter.
Same-restaurant sales at Red Lobster increased 13% to 14% for fiscal March, which reflected a 6% to 7% increase in guest counts and a 7% to 8% increase in check average. Last year, Red Lobster had a 3% to 4% increase in same-restaurant sales for the same fiscal period. The Company estimates that this year's shift in the start of Lent from fiscal February last year to fiscal March this year.
Same-restaurant sales at Olive Garden increased 3% to 4% for fiscal March, which reflected an approximate 1% increase in guest counts and a 2% to 3% increase in check average. Last year, Olive Garden had a 9% to 10% increase in same-restaurant sales for the same fiscal period.
Same-restaurant sales at Red Lobster increased 13% to 14% for fiscal March, which reflected a 6% to 7% increase in guest counts and a 7% to 8% increase in check average. Last year, Red Lobster had a 3% to 4% increase in same-restaurant sales for the same fiscal period. The Company estimates that this year's shift in the start of Lent from fiscal February last year to fiscal March this year.
Same-restaurant sales at Olive Garden increased 3% to 4% for fiscal March, which reflected an approximate 1% increase in guest counts and a 2% to 3% increase in check average. Last year, Olive Garden had a 9% to 10% increase in same-restaurant sales for the same fiscal period.
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