Darden Restaurants, Inc. (DRI) Reports In-Line Q4 EPS
Darden Restaurants, Inc. (NYSE: DRI) reported Q4 EPS of $1.00, in-line with the analyst estimate of $1.00. Revenue for the quarter came in at $1.99 billion versus the consensus estimate of $1.99 billion.
The increase reflects (1) combined same-restaurant sales growth of 2.2% for Olive Garden, Red Lobster and LongHorn Steakhouse, exceeding an estimated 1.9% increase for the Knapp-Track™ benchmark of U.S. same-restaurant sales excluding Darden; (2) same-restaurant sales growth of 5.3% for the Company's Specialty Restaurant Group; and (3) the operation of 70 net new restaurants compared to the fourth quarter last year.
The increase reflects (1) combined same-restaurant sales growth of 2.2% for Olive Garden, Red Lobster and LongHorn Steakhouse, exceeding an estimated 1.9% increase for the Knapp-Track™ benchmark of U.S. same-restaurant sales excluding Darden; (2) same-restaurant sales growth of 5.3% for the Company's Specialty Restaurant Group; and (3) the operation of 70 net new restaurants compared to the fourth quarter last year.