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.
NET INCOME
Result: $70.3 million, or 53 cents per share% Decrease: 36.6% (from $110.8 million, or 85 cents per share)
REVENUE
Result: $2.16 billion% Increase: 6.1% (from $2.03 billion)
SAME-STORE SALES
% Decrease: 3.3% (at Olive Garden, Red Lobster and LongHorn Steakhouse)
Source: Company report
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