December 18, 2020
Darden Board of Directors Elects CEO Eugene I. Lee, Jr. as Chair; Darden Names Ricardo Cardenas as President and Chief Operating Officer; Rajesh Vennam Named Chief Financial Officer
The Darden Restaurants, Inc. (NYSE:DRI) Board of Directors has elected Chief Executive Officer Eugene (Gene) I. Lee, Jr. as Chairman of the Board, succeeding Charles (Chuck) M. Sonsteby, effective January 4, 2021. Mr. Sonsteby will become the Board's Lead Independent Director. "At a time of unprecedented change in our industry, the Board concluded that it is in the best interests of the Company to combine the roles of Chairman and CEO in order to drive the most efficient execution of its long-term strategy," said Sonsteby. "Gene is an extraordinary leader with a passion for our business and team members resulting from decades of restaurant operating experience and successful executive leadership. He has delivered significant value for shareholders and we believe this is the right time for him to assume this role." Mr. Lee became chief executive officer and a member of the board of directors in 2015. "I am honored to serve as the Chairman of the Board of Directors. I want to thank...
December 18, 2020
Darden Restaurants Reports Fiscal 2021 Second Quarter Results; Announces Quarterly Dividend; And Provides Fiscal 2021 Third Quarter Outlook
Darden Restaurants, Inc., (NYSE:DRI) today reported its financial results for the second quarter ended November 29, 2020. Second Quarter 2021 Financial Highlights, Comparisons to Second Quarter Last Year Total sales of $1.66 billion, a decrease of 19.4% driven by negative blended same-restaurant sales of 20.6% and partially offset by the addition of 19 net new restaurants Same-restaurant sales by segment (Thanksgiving Day shifted to the last week of our second fiscal quarter this year from the first week of our third fiscal quarter last year):
(19.9)% for Olive Garden
(31.0)% for Fine Dining
(11.1)% for LongHorn Steakhouse
(28.6)% for Other Business Reported diluted net earnings per share from continuing operations were $0.74 as compared to last year's reported diluted net earnings per share of $0.21 and last year's adjusted diluted net earnings per share of $1.12* Reported net earnings from continuing operations of $97 million EBITDA of $206 million* * ...
November 24, 2020
Darden Restaurants To Host Fiscal 2021 Second Quarter Conference Call On December 18
Darden Restaurants, Inc., (NYSE:DRI) plans to release its fiscal 2021 second quarter financial results before the market opens on Friday, December 18, 2020, with a conference call to follow at 8:30 am ET. Gene Lee, CEO, and other senior management will discuss second quarter results and conduct a question and answer session. For those who cannot listen to the live broadcast, a replay will be available shortly after the call. What: Darden Restaurants, Inc. Fiscal 2021 Second Quarter Earnings Conference Call
When: 8:30 am ET, Friday, December 18, 2020
Where: https://www.webcaster4.com/Webcast/Page/1007/38874
How: Live over the Internet – Simply log on to the web at the address above or, to access via the telephone, please dial 1-833-470-0145 and provide the conference passcode 6365427. About Darden Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Cheddar's Scratch...