Darden Restaurants (DRI) Tops Q4 EPS by 15c; Plans to Spin Real Estate Assets
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Darden Restaurants Reports Strong Fourth Quarter And Full Year Results; Company Provides Fiscal 2016 Outlook
June 23, 2015 7:02 AM EDTORLANDO, Fla., June 23, 2015 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) today reported financial results for the fourth quarter and fiscal year ended May 31, 2015, which included a  53rd week of operations compared to last year. The company also introduced segment-level sales and profit performance.Â
Fourth Quarter 2015 Financial Highlights versus Same Period a Year Ago
Total sales from continuing operations increased 13.8% to $1.88 billion Adjusted earnings per diluted share* increased 100% to $1.08 On a GAAP basis, earnings per diluted share from continuing operations increased 156% to $0.92 Excluding the 53rd week, sales... MoreDarden Restaurants Announces Strategic Real Estate Plan: Intends To Pursue A REIT Separation, Continued Sale Leasebacks Of Select Restaurant Properties And The Sale Leaseback Of Restaurant Support Cen
June 23, 2015 7:00 AM EDTORLANDO, Fla., June 23, 2015 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) announced today that its Board of Directors approved a strategic real estate plan to pursue a separation of a portion of the Company's real estate assets. The separation would be achieved through a combination of selected sale leaseback transactions and the transfer of a portion of its remaining real estate assets to a new real estate investment trust ("REIT") that will be separated by a spin-off, split-off or similar transaction, resulting in the REIT becoming an independent, publicly-traded company (the "REIT Transaction"). ... More
