Darden Posts Same-Restaurant Sales Up Nearly 5%

Darden Restaurants saw sales climb 10% to $3 billion in its fiscal first quarter ended August 24, boosted by a 4.7% increase in same-restaurant sales as well as the addition of 103 Chuy’s Tex Mex restaurants and 22 net new restaurants across its portfolio.

Darden’s core Olive Garden and LongHorn Steakhouse brands grew same-store sales by 5.9% and 5.5% respectively, while the fine dining unit including Capital Grille, Ruth’s Chris, and others was roughly flat.

“We had a strong start to the fiscal year with same-restaurant sales and earnings growth that exceeded our expectations,” said Darden president and CEO Rick Cardenas. Darden is targeting full-year sales up 7.5%-8.5%, boosted by 65 new restaurant openings, with same-restaurant sales expected to rise in the range of 2.5%-3.5%.

Tagged : Darden, on-premise

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