ORLANDO, Fla., Apr 28, 2004 /PRNewswire-FirstCall via COMTEX/ -- Darden Restaurants, Inc. (NYSE: DRI) today reported same-restaurant sales results for the four-week April fiscal month ended April 25, 2004. This period is the second month of Darden's fiscal 2004 fourth quarter.
Same-restaurant sales at Olive Garden were up 5% to 6% for fiscal April, which reflected a 2% to 3% increase in guest counts and a 2% to 3% increase in check average. The check average increase was a result of a 2% to 3% increase in pricing and a 0% to 1% increase from menu mix changes. Last year, Olive Garden had a 0% to 1% decrease in same-restaurant sales.
Same-restaurant sales at Red Lobster were down 8% to 9% for fiscal April, which reflected a 9% to 10% decrease in guest counts and a 1% increase in the check average due primarily to pricing. Last year, Red Lobster had a 0% to 1% increase in same-restaurant sales.
"These sales results were within our expectations for the month," said Linda Dimopoulos, Chief Financial Officer of Darden. "As such, we estimate operating profit for the month of April will meet or exceed our estimates."
Darden Restaurants, Inc., headquartered in Orlando, FL, owns and operates over 1,300 Red Lobster, Olive Garden, Bahama Breeze, Smokey Bones, and Seasons 52 restaurants with annual sales of over $4.7 billion.
Forward-looking statements in this news release, if any, are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changing economic or business conditions, the impact of competition, the availability of favorable credit and trade terms, the impact of changes in the cost or availability of food and real estate, government regulation, construction costs, weather conditions and other factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.
SOURCE Darden Restaurants, Inc.
Analysts, Matthew Stroud, +1-407-245-6458, or Media, Mike
Bernstein, +1-407-245-4567, both of Darden
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http://www.darden.com
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