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

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

Darden Announces Resignation of Jeffrey C. Smith From Board of Directors; Charles M. Sonsteby Elected Chairman

April 5, 2016 7:01 AM EDT

ORLANDO, Fla., April 5, 2016 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) today 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... More

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

April 5, 2016 7:00 AM EDT

ORLANDO, Fla., April 5, 2016 /PRNewswire/ -- Darden Restaurants, Inc., (NYSE: DRI) today reported its financial results for the third quarter ended February 28, 2016.

Third Quarter 2016 Financial Highlights Versus Same Fiscal Quarter Last Year

Total sales from continuing operations increased 6.7% to $1.85 billion Adjusted diluted net earnings per share from continuing operations increased 22.2% to $1.21* On a reported basis, diluted net earnings per share from continuing operations were $0.84 and were negatively impacted by approximately $0.37, primarily related to the early retirement of debt The company repurchased approximately $140 million of its... More