$DRI (Darden Restaurants, Inc.)

$DRI {{ '2016-10-04T12:44:55+0000' | timeago}} • Webcast

Olive Garden had same-restaurant sales growth of 2% in 1Q17, outperforming the industry benchmarks, excluding $DRI, by 410 BPs. This was the company's eighth consecutive quarter of same-restaurant sales growth at Olive Garden. The company remains laser focused on delivering exceptional experience for its guests.

$FCPT {{ '2017-09-13T21:20:49+0000' | timeago}} • Announcement

$FCPT announced the disposition of an Olive Garden restaurant property leased to $DRI for $5.9MM. The property is located in Fairfax, Virginia, and is occupied under a triple-net lease with approx. 16 years of term remaining. The sale is the result of an unsolicited offer at a cash cap rate of 4.75%, exclusive of transaction costs.

$JCP {{ '2017-07-25T13:20:28+0000' | timeago}} • Announcement

$JCP appointed Jeffrey Davis as EVP and CFO, effective July 24, 2017. He will succeed Andrew Drexler, who has been serving as interim CFO while the company completed its search. Davis will report to Marvin Ellison, chairman and CEO of JCPenney. Davis most recently served as CFO at $DRI.

$DRI {{ '2017-06-27T13:34:43+0000' | timeago}} • Webcast

$DRI commented that on the industry in general, it is seeing some weakness in Houston and New York City, but overall the company has not seen a lot of change in the competitive landscape. On the $AMZN's acquisition of $WFM, the company believes people still want to come to restaurants and the acquisition won't have a big impact on $DRI.

$DRI {{ '2017-06-27T13:14:18+0000' | timeago}} • Webcast

Replying to a question on EPS guidance for 2018 and if the company is assuming the $22-27MM in synergies to close in 2018, $DRI stated that it is assuming low single-digit millions to flow into 2018 and the rest to go in to 2019.

$DRI {{ '2017-06-27T12:09:19+0000' | timeago}} • Infographic

$DRI Darden Restaurants Earnings AlphaGraphic: Q4 2017 Highlights

$DRI {{ '2017-06-27T11:38:34+0000' | timeago}} • Announcement

$DRI repurchased approx. $15MM of its outstanding common stock in 4Q17. In the quarter, same-restaurant sales increased 3.3%, excluding Cheddar's Scratch Kitchen.

$DRI {{ '2017-06-27T11:33:35+0000' | timeago}} • Announcement

For FY18, $DRI expects total sales growth of 11.5-13.0%, with adjusted diluted EPS from continuing operations expected in the range of $4.38-4.50. The company also expects same-restaurant sales growth of 1-2% and new restaurant openings of 35-40 restaurants in FY18. CapEx is expected in the range of $400-450MM.

$DRI {{ '2017-06-27T11:28:38+0000' | timeago}} • Announcement

Orlando-based multi-brand restaurant operator $DRI reported a 10.68% decline in 4Q17 earnings, impacted by higher cost and expenses. Net earnings was $125.4MM or $0.99 per share, down from $140.4MM or $1.10 per share a year ago. Total sales was up 8.1% YoY to $1.93Bil. Excluding items, $DRI earned $1.18 per share.

$DRI {{ '2017-04-24T20:43:13+0000' | timeago}} • Announcement

$DRI closed purchase of Cheddar's Scratch Kitchen for $780MM in all-cash transaction from its stockholders including private equity firms L Catterton and Oak Investment Partners. $DRI also paid $10MM for certain Cheddar's transaction-related tax attributes and reimbursed its equityholders for pre-closing CapEx on new restaurants under development.

$DRI {{ '2017-03-28T14:48:43+0000' | timeago}} • Infographic

$DRI Darden Restaurants Earnings AlphaGraphics: Q3 2017 highlights

$DRI {{ '2017-03-28T14:05:52+0000' | timeago}} • Webcast

$DRI said Olive Garden did not open any restaurants in 2H16 and the company is opening a lot more restaurants in 2H17. $DRI expects to open more restaurants in 4Q17 than it opened at Olive Garden last year.

$DRI {{ '2017-03-28T13:26:10+0000' | timeago}} • Webcast

$DRI said Cheddar’s Scratch Kitchen has about 17% in restaurant EBITDA and $4.4MM of average unit volume. It currently has 25 franchises but the revenues are fairly immaterial to the overall revenues for Cheddar’s. Cheddar’s has a pipeline of about 3 restaurants in FY17 and 8 in FY18. $DRI is confident on Cheddar’s future growth.

$DRI {{ '2017-03-28T13:06:22+0000' | timeago}} • Webcast

In 2018, $DRI anticipates total Capex of between $360-400MM of which $150-175MM is related to gross new restaurant openings of between 30-35 and the remainder is related to approx. 100 Olive Garden remodels, ongoing restaurant upkeep, technology and other spending.

$DRI {{ '2017-03-28T13:00:05+0000' | timeago}} • Webcast

In 3Q17, $DRI’s flat segment profit margin for Olive Garden was below last year driven by marketing expense timing, utilities inflation and higher pre-opening expenses related to 3Q17 and 4Q17 openings versus none in 2H16. LongHorn Steakhouse segment profit margin was below last year driven by higher restaurant expenses.

$DRI {{ '2017-03-28T12:53:54+0000' | timeago}} • Webcast

During 3Q17, $DRI’s Olive Garden business achieved same-restaurant sales growth of 1.4%. LongHorn Steakhouse same-restaurant sales grew 0.2%. Same-restaurant sales for The Capital Grille grew 0.9% while for Eddie V’s, the growth was 4.7%. Seasons 52 saw growth of 0.8% and Bahama Breeze saw growth of 0.5%.

$DRI {{ '2017-03-27T21:56:48+0000' | timeago}} • Announcement

In 3Q17, $DRI's sales in Olive Garden grew 1.7% to $1.03Bil; that in LongHorn Steakhouse went up 2.1% to $434.3MM; and that in Fine Dining grew 5.3% to $153.7MM. However, sales from Other Business fell 0.2% to $255.6MM.

$DRI {{ '2017-03-27T21:49:19+0000' | timeago}} • Announcement

In FY17, $DRI expects net EPS between $3.95 and $4, reflecting an updated outlook for same-restaurant sales of approx 1.5%. In 3Q17, $DRI's same-restaurant sales increased 0.9%.

$DRI {{ '2017-03-27T21:44:02+0000' | timeago}} • Announcement

Multi-brand restaurant operator $DRI posted higher sales and earnings in 3Q17, riding on revenue growth in three of four segments. Sales edged up 1.6% to $1.88Bil. Meanwhile net earnings grew to $165.6MM, or $1.32 per share, from $105.8MM, or $0.82 per share in the year-ago quarter.

$DRI {{ '2017-03-27T20:47:51+0000' | timeago}} • Announcement

$DRI, which agreed to acquire Cheddar's Scratch Kitchen for $780MM, expects annualized pre-tax run rate synergies of $20-25MM by FY19 from this transaction. Total acquisition and integration-related expenses are expected to be approx. $25-35MM. Cheddar's CEO Ian Baines will remain as President of Cheddar's and will report to $DRI's CEO Gene Lee.

$DRI {{ '2017-03-27T20:42:08+0000' | timeago}} • Announcement

$DRI to acquire Cheddar's Scratch Kitchen for $780MM in an all-cash transaction from its stockholders, including private equity firms L Catterton and Oak Investment Partners. The deal is expected to add approx. $0.12 to $DRI's EPS in FY18, excluding any acquisition and integration-related expenses. The transaction is expected to close in 4Q17.

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