Darden Restaurants Reports Fiscal 2016 Third Quarter Results; Reports Positive Same-Restaurant Sales For All Brands; And Increases Same-Restaurant Sales And Earnings Outlook For The Full Fiscal Year

Go back to Darden Restaurants Reports Fiscal 2016 Third Quarter Results; Reports Positive Same-Restaurant Sales For All Brands; And Increases Same-Restaurant Sales And Earnings Outlook For The Full Fiscal Year

Jefferies Remains Sidelined on Darden Restaurants (DRI) Following 3Q Report

April 6, 2016 7:37 AM EDT

Jefferies reiterated a Hold rating and $66.00 price target on Darden Restaurants (NYSE: DRI) as strong results continue through the company's 3Q. DRI reported adjusted EPS of $1.21, at the high end of DRI's pre-announced range. EPS was driven by +4% combined SSS, sales leverage across all segments... More

Darden Restaurants (DRI) Chairman Smith Resigns

April 5, 2016 7:02 AM EDT

Darden Restaurants, Inc. (NYSE: DRI) announced that Jeffrey (Jeff) C. Smith has resigned from its Board of Directors effective April 4, 2016. Mr. Smith had served on the Board of Directors and as the Company's Chairman of the Board since October 2014. With the announcement of Mr. Smith's departure, the Board unanimously elected Charles (Chuck) M. Sonsteby, a current independent director, as Chairman. The Company now has ten directors.

"It is with mixed emotion that I leave the Board of Directors," said Smith. "I will thoroughly miss working with the capable and talented people... More

Darden Restaurants (DRI) Tops Q3 EPS by 2c

April 5, 2016 7:02 AM EDT

Darden Restaurants (NYSE: DRI) reported Q3 EPS of $1.21, $0.02 better than the analyst estimate of $1.19. Revenue for the quarter came in at $1.85 billion versus the consensus estimate of $1.84 billion.

Same-restaurant sales increased 6.2% for the fiscal quarter.

"Our strong same-restaurant sales reinforce that... More