June 27, 2017
Darden Restaurants Reports Fiscal 2017 Fourth Quarter And Full Year Results; Fourth Quarter Same-Restaurant Sales Growth Of 3.3%; And Increases Quarterly Dividend 12.5%
Darden Restaurants, Inc., (NYSE: DRI) today reported its financial results for the fourth quarter and fiscal year ended May 28, 2017. Fourth Quarter 2017 Financial Highlights Versus Same Fiscal Quarter Last Year Total sales from continuing operations increased 8.1% to $1.93 billion Reported diluted net earnings per share from continuing operations decreased 10.0% to $0.99 and were negatively impacted by $0.19 due to: A non-cash accounting charge of approximately $0.10 related to the early settlement of a portion of our pension plan commitments Approximately $0.09 of transaction and integration expenses related to the April 24, 2017 acquisition of Cheddar's Scratch Kitchen Adjusted diluted net earnings per share from continuing operations increased 7.3% to $1.18* The Company repurchased approximately $15 million of its outstanding common stock Same-restaurant sales increased 3.3% for the quarter, excluding Cheddar's Scratch Kitchen +4.4% for Olive Garden
+0.5% for The Capital...
June 6, 2017
Darden Restaurants To Host Fiscal 2017 Fourth Quarter Conference Call On June 27
Darden Restaurants, Inc. , (NYSE: DRI) plans to release its fiscal 2017 fourth quarter financial results before the market opens on Tuesday, June 27, 2017 , with a conference call to follow at 8:30 am ET . Gene Lee , CEO, and other senior management will discuss fourth 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 2017 Fourth Quarter Earnings Conference Call When: 8:30 am ET, Tuesday, June 27, 2017 Where: https://www.webcaster4.com/Webcast/Page/1007/21365 How: Live over the Internet – Simply log on to the web at the address above or, to access via the telephone, dial 1-800-369-1837 and enter passcode 5049489 to join the call. About Darden Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52,...
April 24, 2017
Darden Restaurants Completes Acquisition Of Cheddar's Scratch Kitchen
Darden Restaurants, Inc. (NYSE:DRI) today announced that it has completed the acquisition of Cheddar's Scratch Kitchen (Cheddar's) for $780 million in an all-cash transaction from its stockholders including private equity firms L Catterton and Oak Investment Partners . This follows the agreement that was announced on March 27, 2017 . The transaction price is subject to customary post-closing adjustments. Darden also paid $10 million for certain Cheddar's transaction-related tax attributes and reimbursed its equityholders for pre-closing capital expenditures on new restaurants under development. Darden funded the acquisition with the proceeds of a $500 million offering of 3.850% senior notes due 2027, which were issued on April 18, 2017, together with cash on hand. With the acquisition now complete, Cheddar's joins Darden's portfolio of differentiated brands which also includes Olive Garden , LongHorn Steakhouse , Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's....