Rick Cardenas, president and CEO at Darden Restaurants, said Thursday (June 20) that those concerns are greatest among consumers with incomes below the median household income of $75,000 and especially among those with incomes below $50,000. "These impacts were even greater in our fine dining brands, so that's why you saw fine dining had a more negative comp than others," Cardenas said. The same-store sales figures for the company's fine dining segment include The Capital Grille. They do not yet include the ...

Darden Restaurants, Inc. (NYSE:DRI) Q4 2024 Earnings Conference Call June 20, 2024 8:30 AM ET Company Participants Courtney Aquilla - Investor Relations Rick Cardenas - President and Chief Executive Officer Raj Vennam - Senior Vice President and Chief Financial Officer Conference Call Participants Brian Harbour - Morgan Stanley Lauren Silberman - Deutsche Bank Eric Gonzalez - KeyBanc Capital Markets Andrew Charles - TD Cowen David Tarantino - Baird Jim Salera - Stephens Sara Senatore - Bank of America Jeffr ...

Get Darden Restaurants alerts: | --- | --- | --- | |-----------------------|-------|-------| | | | | | DRI | | | | Darden Restaurants | | | | $155.45 | | | | +3.49 (+2.30%) | | | | 52-Week Range $133.36 | | | | ▼ | | | | $176.84 | | | | Dividend Yield 3.37% | | | | P/E Ratio 18.22 | | | | Price Target $173.81 | | | Examining Darden's same-store sales growth provides a clearer picture of the company's performance relative to its established restaurant base. For Q4 2024, Darden reported flat same-store sales ...

Shares of Darden Restaurants rose 1.3% to $153.93 as of 10:48 a.m. ET Thursday. They are down 6% year-todate. Darden explained that the gains were driven by the addition of 80 Ruth's Chris locations, and 37 other net new restaurants. Darden purchased Ruth's Chris last year for about $715 million. Key Takeaways Darden Restaurants (DRI) shares advanced Thursday after it posted a better-than-expected adjusted profit as it benefited from the acquisition of Ruth's Chris Steak House. Same-store sales, which didn' ...

On Darden's quarterly earnings call Thursday, Cardenas told analysts that industry data is showing "a little bit of a shift from [quick-service restaurants] to some of those competitors" in casual dining. In particular, McDonald's has faced backlash from customers, social media users and even House Republicans for its higher prices. In an open letter in late May, the company's U.S. President Joe Erlinger hit back at critics claiming its menu prices have doubled, saying its prices are up just 40% since 2019. ...

Darden Restaurants (DRI) reported $2.96 billion in revenue for the quarter ended May 2024, representing a year-over-year increase of 6.8%. EPS of $2.65 for the same period compares to $2.58 a year ago. The reported revenue represents a surprise of -0.88% over the Zacks Consensus Estimate of $2.98 billion. With the consensus EPS estimate being $2.62, the EPS surprise was +1.15%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

Darden Restaurants, Inc. (DRI) reported mixed fourth-quarter fiscal 2024 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The metrics increased on a year-over-year basis. Following results, the stock inched up 1.3% in the pre-market trading session. Sales by Segments Sales in Fine Dining increased 55.9% year over year to $327.1 million. Our estimate for the metric was $376.6 million. Comps in the segment dropped 2.6% year over year compared with a 2.3% fall reported ...

This quarterly report represents an earnings surprise of 1.15%. A quarter ago, it was expected that this owner of Olive Garden and other chain restaurants would post earnings of $2.63 per share when it actually produced earnings of $2.62, delivering a surprise of -0.38%. Darden Restaurants, which belongs to the Zacks Retail - Restaurants industry, posted revenues of $2.96 billion for the quarter ended May 2024, missing the Zacks Consensus Estimate by 0.88%. This compares to year-ago revenues of $2.77 billio ...

For fiscal 2025, Darden is forecasting that its same-store sales will grow just 1% to 2%. Here's what the company reported compared with what Wall Street was expecting for the quarter ended May 26, based on a survey of analysts by LSEG: Darden reported fiscal fourth-quarter net income of $308.1 million, or $2.57 per share, down from $315.1 million, or $2.58 per share, a year earlier. Net sales rose 6.8% to $2.96 billion, fueled by its acquisition of Ruth's Chris Steak House and 37 other net new locations. D ...

Exhibit 99.1 Darden Restaurants Reports Fiscal 2024 Fourth Quarter and Full Year Results; Increases Quarterly Dividend; And Provides Fiscal 2025 Outlook ORLANDO, Fla., June 20, 2024 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the fourth quarter and fiscal year ended May 26, 2024. Fourth Quarter 2024 Financial Highlights | Consolidated Darden* | 0.0% | | --- | --- | | Olive Garden | (1.5)% | | LongHorn Steakhouse | 4.0% | | Fine Dining* | (2.6)% | | Other Busi ...