Same-store sales declined at Red Lobster, Olive Garden brands
Darden Restaurants Inc. reported on Friday a 36.6-percent decline in first-quarter net income compared to the same period last year amid continuing pressures in the casual-dining segment. The Orlando, Fla.-based Darden said same-store sales declined at its Red Lobster and Olive Garden brands during the Aug. 25-ended quarter, but it saw increases at its LongHorn Steakhouse and in the specialty restaurant division, which includes Bahama Breeze, The Capital Grille, Eddie V’s, Seasons 52 and Yard House.
Result: $70.3 million, or 53 cents per share
% Decrease: 36.6% (from $110.8 million, or 85 cents per share)
Result: $2.16 billion
% Increase: 6.1% (from $2.03 billion)
% Decrease: 3.3% (at Olive Garden, Red Lobster and LongHorn Steakhouse)
• Darden faces foodborne illness lawsuit
• Darden names two new executives
• Same-store sales at NRN.com
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