Darden Restaurants posts higher sales in second quarter 

steak dish from LongHorn Steakhouse
Darden Restaurants has reported sales growth for the second quarter. (Source: LongHorn Steakhouse/Facebook)

Darden Restaurants has reported sales growth for the second quarter, driven by good performance at Olive Garden and LongHorn Steakhouse as well as new acquisitions.

The company’s sales rose 6 per cent to $2.9 billion for the quarter ended November 24. The increase was attributed to a 2.4 per cent increase in blended same-restaurant sales, the addition of 103 Chuy’s restaurants, and 39 net new locations.

LongHorn Steakhouse saw the biggest increase in same-restaurant sales at 7.5 per cent, followed by Olive Garden with a 2 per cent improvement. Same-restaurant sales of the fine dining segment fell 5.8 per cent, while the ‘other’ segment remained flat.

“I continue to believe in the power of our strategy and our brands’ ability to compete effectively regardless of the environment,” said Darden president & CEO Rick Cardenas.

“Each of our brand leadership teams are focused on the long term and staying committed to executing at the highest level,” he added.

For the full year, the company expects same-restaurant sales growth of approximately 1.5 per cent and new restaurant openings of 50 to 55.

Recommended By IR

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.