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Darden es la compañía de restaurante de servicio completo más grande del mundo
La familia Darden de restaurantes presenta algunas de las marcas más reconocidas y acertadas en el servicio completo de comida: Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama Breeze y Seasons 52. Nuestras marcas han sido establecidas durante décadas de aprendizaje de nuestros invitados. Sus inspiraciones culinarias vienen de los pueblos pesqueros de Maine, las mesas de familia de Italia y el Oeste Americano – iconos que reflejan la diversidad rica de aquellos que visitan nuestros restaurantes.

Inclusive, no es ninguna exageración el decir que nuestras marcas más grandes se han convertido en iconos. Desde la apertura de nuestro primer restaurante de Red Lobster en Lakeland en Florida, en 1968, Darden ha crecido para hacerse la compañía de restaurantes de servicio completo más grande del mundo. A través de subsidiarias, poseemos y operamos casi 1,800 restaurantes, empleamos a aproximadamente 180,000 personas y servimos más de 400 millones de comidas por año.
How It All Began
Generation Commitment
Recent News
Wed, 01 May 2013 10:00:00 -0400

ORLANDO, Fla., May 1, 2013 /PRNewswire/ -- Darden Restaurants, Inc., (NYSE: DRI) will be presenting at Baird's 2013 Growth Stock Conference to be held in Chicago, Illinois.  There will be an on-line simulcast of the Company's presentation which begins at 8:00 am (Central) on Tuesday, May 7, 2013, available at the Company's website, www.darden.com.  An audio-only webcast of the Company's presentation will be available over the Internet at http://wsw.com/webcast/baird34/dri/

(Logo:  http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

The archived webcast will also be available on the home page of the company's website www.darden.com through May 31, 2013.

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate $8.0 billion in annual sales. Headquartered in Orlando, and employing more than 185,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2012, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the second year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House — reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

SOURCE Darden Restaurants, Inc.: Financial

(Analysts) Matthew Stroud, (407) 245-6458, (Media) Rich Jeffries, (407) 245-4189
Tue, 23 Apr 2013 08:42:00 -0400

ORLANDO, Fla., April 23, 2013 /PRNewswire/ -- Darden Restaurants, Inc., (NYSE: DRI) will be presenting at Barclay's Retail & Restaurants Conference to be held in New York City, New York.  There will be an on-line simulcast of the Company's presentation which begins at 10:35 am (Eastern) on Tuesday, April 30, 2013, available at the Company's website, www.darden.com.  An audio-only webcast of the Company's presentation will be available over the Internet at http://cc.talkpoint.com/barc002/043013a_lp/?entity=12_B75W03U.

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

The archived webcast will also be available on the home page of the company's website www.darden.com  through May 1, 2013. 

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate $8.0 billion in annual sales. Headquartered in Orlando, and employing more than 185,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2012, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the second year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House — reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

SOURCE Darden Restaurants, Inc.: Financial

(Analysts) Matthew Stroud, (407) 245-6458, (Media) Rich Jeffries (407) 245-4189
Wed, 03 Apr 2013 09:00:00 -0400

ORLANDO, Fla., April 3, 2013 /PRNewswire/ -- The Darden Foundation, the charitable arm of Darden Restaurants Inc., today awarded more than $1.9 million to more than 850 nonprofit organizations in the United States and Canada as part of its Restaurant Community Grants program. The program empowers each restaurant in the Darden family of brands to help award a $1,000 grant to support local community programs that align with three focus areas: access to postsecondary education, preservation of natural resources and hunger.

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

The grants program is designed to deepen local connections through continued investment in the communities where Darden employees live and work. With more than 2,000 restaurants in North America, employees at each restaurant are given the opportunity to identify specific needs unique to their region and select a nonprofit to support and address those local issues.

"Our employees are incredibly passionate about the communities where they live, and our restaurant teams are in a position to understand and help address the needs of their communities," said Drew Madsen, Darden Restaurants' president and chief operating officer. "We're all proud to build on that passion through the grants program and bring real, local citizenship to life by enabling each restaurant to make a difference in their backyard."

Darden's Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille and Eddie V's brands participated in the program. Many restaurants and brands worked together to award one nonprofit organization with a larger grant and make a greater impact in their community.  

Following are examples of grant partnerships across the country including in Washington D.C., Atlanta, Los Angeles, Philadelphia and Houston. 

  • Capital Area Food Bank – In Darden's largest donation to a single nonprofit, 23 surrounding Red Lobster, Olive Garden and Seasons 52 restaurants are partnering to support Capital Area Food Bank in Washington D.C. with a $23,000 grant. This Feeding America food bank helps feed 478,100 food-insecure people annually.
  • Boys & Girls Clubs of Metro Atlanta – Twenty-eight Red Lobster, Capital Grille, Olive Garden and LongHorn Steakhouse restaurants are partnering to grant $28,000 to multiple branches of the Boys & Girls Clubs of Metro Atlanta to provide vital postsecondary education programs that enhance student performance and encourage high school graduation, college attendance and career exploration.
  • Orange County CoastKeeperSix Olive Gardens in the greater Los Angeles area are working together to support Orange County CoastKeeper, a public, interactive, educational space, with a purpose to preserve our natural resources by promoting sustainable landscaping practices. The 2.5-acre garden is a unique setting where people can learn about the region's local ecology and principles of environmental stewardship. 
  • Philabundance – Twenty-one Capital Grille, Red Lobster, Olive Garden, Bahama Breeze and LongHorn Steakhouse restaurants in Philadelphia are collaborating to award a $21,000 grant to Philabundance, a Feeding America food bank, to support the Philabundance Community Kitchen program. This program is a 14-week culinary arts job training program for low-income individuals to gain the skills needed for sustainable employment in the food service industry.
  • Boys & Girls Clubs of Greater Houston – Seven Olive Garden, LongHorn Steakhouse and Eddie V's restaurants collaborated to support Boys & Girls Clubs of Greater Houston. For more than six decades, Boys & Girls Clubs of Greater Houston has provided educational programming designed to enable thousands of youth ages seven to 18 to achieve academic success, graduate from high school and develop college readiness.

"Darden's Restaurant Community Grants program is a great example of the collective dedication to ensuring our young people achieve academic success," said Kimberly Boyd, vice president of education for BGCA. "We are so grateful to the 495 Darden restaurants for providing grants to local Boys & Girls Clubs within their communities. These grants help ensure our Clubs have the proper resources to continue offering programs such as Diplomas to Degrees, a college-readiness program supported nationally by the Darden Foundation, that address the academic crisis and encourage young people to pursue their dreams. It is because of passionate partners like Darden that our young people are able to achieve great futures."

Darden's Restaurant Community Grants program reflects the company's rich heritage of being of service to others, a concept that began more than 40 years ago with founder Bill Darden. The Darden Foundation embodies these core citizenship values by striving to improve the quality of life in the communities where Darden employees live and serve.

About Darden Restaurants
Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate over $8.0 billion in annual sales. Headquartered in Orlando, Fla., and employing more than 190,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2013, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the third year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands – Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House – reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

The Darden Foundation
The Darden Restaurants, Inc. Foundation is the charitable arm of Darden Restaurants, Inc. The Foundation's mission is to maintain a spirit of volunteerism and philanthropy as defining characteristics of Darden Restaurants. Since 1995, the Darden Foundation has awarded more than $60 million in grants, with $7.2 million given in fiscal year 2012. The Darden Foundation carries out its mission by focusing philanthropic efforts and resources on the following program areas: Access to Postsecondary Education, Preservation of Natural Resources and Good Neighbor Grants. For more information, please visit www.dardenfoundation.com.

SOURCE Darden Restaurants, Inc.: General

Darden Contact: Rich Jeffers, (407) 245-4189, rjeffers@darden.com, or Media Contact: Rachel Mock, (312) 297-7567, rachel.mock@edelman.com
Wed, 03 Apr 2013 08:00:00 -0400

ORLANDO, Fla., April 3, 2013 /PRNewswire/ -- Darden Restaurants, Inc., (NYSE: DRI) will be presenting at Telsey Advisory Group's 5th Annual Spring Consumer Conference to be held New York City, New York.  There will be an on-line simulcast of the Company's presentation which begins at 1:10 pm (Eastern) on Tuesday, April 9, 2013, available at the Company's website, www.darden.com.  A webcast of the Company's presentation will be available over the Internet at:  http://wsw.com/webcast/tag9/dri/.

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

The archived webcast will also be available on the home page of the company's website www.darden.com  through April 11, 2013. 

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate $8.0 billion in annual sales. Headquartered in Orlando, and employing more than 185,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2012, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the second year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House — reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

SOURCE Darden Restaurants, Inc.: Financial

Analysts, Matthew Stroud, (407) 245-6458, or Media, Rich Jeffries, (407) 245-4189
Fri, 29 Mar 2013 11:00:00 -0400

ORLANDO, Fla., March 29, 2013 /PRNewswire/ -- Darden Restaurants, Inc., (NYSE: DRI) will be presenting at Morgan Stanley's 2013 Retail & Restaurant Conference to be held in Orlando, Florida.  There will be an on-line simulcast of the Company's presentation which begins at 8:00 am (Eastern) on Thursday, April 4, 2013, available at the Company's website, www.darden.com.  A webcast of the Company's presentation will be available over the Internet at: http://cc.talkpoint.com/morg007/040413a_mc/?entity=4_2G4J45M.

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

The archived webcast will also be available on the home page of the company's website www.darden.com through April 12, 2013. 

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate $8.0 billion in annual sales. Headquartered in Orlando, and employing more than 185,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2012, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the second year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House — reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

Source: Financial

SOURCE Darden Restaurants, Inc.: Financial

(Analysts) Matthew Stroud (407) 245-6458, or (Media) Rich Jeffries (407) 245-4189
Fri, 22 Mar 2013 08:00:00 -0400

ORLANDO, Fla., March 22, 2013 /PRNewswire/ -- Darden Restaurants, Inc., Orlando, FL, (DRI) will host its Fiscal 2013 Third Quarter conference call on Friday, March 22, 2013 at 8:30 am ET.  The conference call will be broadcast live over the Internet.  Clarence Otis, Chairman & CEO, and other senior management invite you to listen to a discussion of third quarter results. The subjects to be covered may also include forward-looking information, such as the outlook for the current month or quarter, and the company's previously-announced earnings guidance.  Questions may be poised to management by participants on the call and in response the company may disclose additional material information.

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

A copy of our press release announcing our earnings, the Form 8-K used to file the release with the Securities and Exchange Commission, and any other financial and statistical information about the period covered in the conference call, including any information required by Regulation G, will be available under the heading "Investor Relations" on our website at www.darden.com.

To listen to the call live, please go to the following website at least fifteen minutes early to register, download, and install any necessary audio software.  For those who cannot listen to the live broadcast, a replay will be available shortly after the call.

What:      

Darden Restaurants, Inc. FY13 Third Quarter Earnings Conference Call



When:      

8:30 am ET, Friday, March 22, 2013



Where:      

http://www.videonewswire.com/event.asp?id=92858



How:          

Live over the Internet – Simply log on to the web at the address above

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate $8.0 billion in annual sales. Headquartered in Orlando, and employing more than 185,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2012, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the second year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House — reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

Source: F

SOURCE Darden Restaurants, Inc.: Financial

Analysts: Matthew Stroud, 1-407-245-6458, or Media: Rich Jeffers, 1-407-245-4671
Fri, 22 Mar 2013 07:00:00 -0400

ORLANDO, Fla., March 22, 2013 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) today reported diluted net earnings per share and sales for the third quarter ended February 24, 2013.

(Logo:  http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO)

Headlines for the quarter include the following:

  • Third quarter diluted net earnings per share from continuing operations were $1.02, an 18% decrease from the $1.25 per diluted share in the third quarter of last year. Earnings from continuing operations in this year's third quarter were $134.5 million and sales were $2.26 billion, which compare to earnings from continuing operations of $164.1 million and sales of $2.16 billion in the third quarter last year.
     
  • Third quarter total sales from continuing operations of $2.26 billion represent an increase of 4.6% compared to the third quarter of last year.  The increase reflects a same-restaurant sales increase of 2.3% for the Company's Specialty Restaurant Group, incremental sales from the acquisition of 40 Yard House restaurants on August 29, 2012 and the addition and operation of another 108 net new restaurants compared to the third quarter last year, offset by a combined same-restaurant sales decline of -4.6% for Olive Garden, Red Lobster and LongHorn Steakhouse.  In the third quarter, U.S. same-restaurant sales decreased -1.6%, -4.1% and -6.6% for LongHorn Steakhouse, Olive Garden and Red Lobster, respectively.  In the third quarter, the Company estimates that winter weather adversely affected same-restaurant sales results by approximately 90 basis points.
     
  • The Company estimated that costs associated with the acquisition of Yard House USA, Inc., which was completed on August 29, 2012, the beginning of this year's second quarter, adversely affected diluted net earnings per share for this year's third quarter by approximately two cents.
     
  • Darden's Board of Directors declared a quarterly dividend of 50 cents per share.

Operating Headlines

OLIVE GARDEN'S third quarter sales of $962 million were 0.6% higher than the prior year, driven by revenue from 42 net new restaurants offset by a -4.1% decrease in U.S. same-restaurant sales.  For the quarter, on a percentage of sales basis, higher food and beverage expenses, restaurant labor expenses, restaurant expenses, selling, general and administrative expenses and depreciation expense resulted in a decrease for the quarter in both operating profit and operating profit as a percentage of sales. 

RED LOBSTER'S third quarter sales of $669 million were -6.0% lower than the prior year as a result of a U.S. same-restaurant sales decrease of -6.6% that was partially offset by revenue from three net new restaurants.  For the quarter, on a percentage of sales basis, lower food and beverage expenses were more than offset by higher restaurant labor expenses, restaurant expenses, selling, general and administrative expenses and depreciation expense, which resulted in a decrease for the quarter in both operating profit and operating profit as a percentage of sales. 

LONGHORN STEAKHOUSE'S third quarter sales of $332 million were 6.9% higher than the prior year, driven by revenue from 42 net new restaurants offset by a U.S. same-restaurant sales decrease of -1.6%. For the quarter, on a percentage of sales basis, higher food and beverage expenses, restaurant labor expenses, restaurant expenses, selling, general and administrative expenses and depreciation expense resulted in a decline for the quarter in both operating profit and operating profit as a percentage of sales.

THE SPECIALTY RESTAURANT GROUP'S third quarter sales of $287 million were 61.1% higher than the prior year, driven by the addition of the 40 Yard House restaurants purchased on August 29, 2012 plus three new Yard House restaurants, three net new restaurants at The Capital Grille, five net new restaurants at Bahama Breeze and seven net new restaurants at Seasons 52; same-restaurant sales increases of 4.1% at The Capital Grille, 2.3% at Eddie V's, 0.4% at Seasons 52 and slightly offset by a same-restaurant sales decline of -0.3% at Bahama Breeze.

Fiscal 2013 December, January and February U.S. Same-Restaurant Sales Results

Darden reported U.S. same-restaurant sales for the fiscal months of December, January and February as follows:







Olive Garden

December


January


February

Same-Restaurant Sales

-2.5%


-0.6%


-9.1%

Same-Restaurant Traffic      

-3.7%


-0.9%


-7.0%

Pricing

2.3%


2.1%


1.2%

Menu-mix

-1.2%


-1.7%


-3.4%







Red Lobster

December


January


February

Same-Restaurant Sales

-7.1%


-5.2%


-7.5%

Same-Restaurant Traffic          

-5.5%


-1.7%


-6.0%

Pricing

1.2%


1.3%


1.2%

Menu-mix

-2.8%


-4.8%


-2.7%







LongHorn Steakhouse

December


January


February

Same-Restaurant Sales

-3.6%


2.5%


-3.0%

Same-Restaurant Traffic      

-4.4%


0.1%


-2.9%

Pricing

2.0%


2.0%


2.0%

Menu-mix

-1.3%


0.4%


-2.2%







Note: The Company estimates that winter weather adversely affected results by approximately 110 basis points in December and 150 basis points in February.  There was no adverse weather impact in January.

Other Actions

Darden's Board of Directors declared a quarterly cash dividend of 50 cents per share on the Company's outstanding common stock. The dividend is payable on May 1, 2013 to shareholders of record at the close of business on April 10, 2013.

Fiscal 2013 Financial Outlook

Darden affirmed its financial outlook for fiscal 2013.  The Company anticipates total sales growth for the year of between +6% and +7%, which reflects combined U.S. same-restaurant sales for the year for Red Lobster, Olive Garden and LongHorn Steakhouse that is expected to be between -1.5% to -2.5%, incremental sales starting in fiscal September from the acquisition of Yard House and the addition of approximately 105 net new restaurants this year, not including the initial 40 Yard House restaurants in operation when the acquisition was completed.  The Company expects diluted net earnings per share from continuing operations for fiscal 2013 to be between $3.06 to $3.22, which includes approximately 9 cents of transaction and closing costs associated with the purchase of Yard House. 

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate over $8.0 billion in annual sales. Headquartered in Orlando, Fla., and employing more than 190,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2013, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the third year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands – Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House – reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

Forward-looking statements in this news release regarding our expected earnings per share and U.S. same-restaurant sales for the fiscal year, new restaurant growth and all other statements that are not historical facts, including without limitation statements concerning our future economic performance, plans or objectives, are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.  Any forward-looking statements speak only as of the date on which such statements are made, and we undertake no obligation to update such statements to reflect events or circumstances arising after such date. We wish to caution investors not to place undue reliance on any such forward-looking statements.  By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to materially differ from those anticipated in the statements. The most significant of these uncertainties are described in Darden's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). These risks and uncertainties include food safety and food-borne illness concerns, litigation, unfavorable publicity, risks relating to public policy changes and federal, state and local regulation of our business including health care reform, labor and insurance costs, technology failures, failure to execute a business continuity plan following a disaster, health concerns including virus outbreaks, intense competition, failure to drive sales growth, failure to successfully integrate the Yard House business and the additional indebtedness incurred to finance the Yard House acquisition, our plans to expand our newer brands like Bahama Breeze, Seasons 52 and Eddie V's, a lack of suitable new restaurant locations, higher-than-anticipated costs to open, close or remodel restaurants, a failure to execute innovative marketing tactics and increased advertising and marketing costs, a failure to develop and recruit effective leaders, a failure to address cost pressures, shortages or interruptions in the delivery of food and other products, adverse weather conditions and natural disasters, volatility in the market value of derivatives, economic factors specific to the restaurant industry and general macroeconomic factors including unemployment and interest rates, disruptions in the financial markets, risks of doing business with franchisees and vendors in foreign markets, failure to protect our service marks or other intellectual property,  a possible impairment in the carrying value of our goodwill or other intangible assets, a failure of our internal controls over financial reporting, or changes in accounting standards, and other factors and uncertainties discussed from time to time in reports filed by Darden with the Securities and Exchange Commission.

 


DARDEN RESTAURANTS, INC.

NUMBER OF COMPANY-OWNED RESTAURANTS


02/24/13




02/26/12

678


Red Lobster USA


675

27


Red Lobster Canada


27

705


Total Red Lobster


702

812


Olive Garden USA


770

6


Olive Garden Canada


6

818


Total Olive Garden


776

416


LongHorn Steakhouse


374

48


The Capital Grille


45

33


Bahama Breeze


28

28


Seasons 52


21

11


Eddie V's


11

43


Yard House


-

5


Other


2

2,107


Total Restaurants


1,959

 

 


DARDEN RESTAURANTS, INC.

 

CONSOLIDATED STATEMENTS OF EARNINGS

(In millions, except per share data)

(Unaudited)



Three Months Ended


Nine Months Ended


2/24/2013


2/26/2012


2/24/2013


2/26/2012

Sales

$

2,258.2



$

2,159.7



$

6,253.0



$

5,933.2


Costs and expenses:








Cost of sales:








Food and beverage

695.1



661.7



1,921.5



1,828.5


Restaurant labor

709.0



657.2



1,971.5



1,864.6


Restaurant expenses

348.2



308.4



977.8



901.2


Total cost of sales (1)

$

1,752.3



$

1,627.3



$

4,870.8



$

4,594.3


Selling, general and administrative

199.8



198.0



634.1



568.3


Depreciation and amortization

101.0



88.9



292.8



258.8


Interest, net

31.9



27.7



92.7



74.5


Total costs and expenses

$

2,085.0



$

1,941.9



$

5,890.4



$

5,495.9


Earnings before income taxes

173.2



217.8



362.6



437.3


Income taxes

(38.7)



(53.7)



(83.3)



(112.3)


Earnings from continuing operations

$

134.5



$

164.1



$

279.3



$

325.0


Losses from discontinued operations, net of tax benefit  

         of $0.2, $0.0, $0.4 and $0.4, respectively

(0.1)





(0.5)



(0.7)


Net earnings

$

134.4



$

164.1



$

278.8



$

324.3


Basic net earnings per share:








Earnings from continuing operations

$

1.04



$

1.28



$

2.17



$

2.49


Losses from discontinued operations







(0.01)


Net earnings

$

1.04



$

1.28



$

2.17



$

2.48


Diluted net earnings per share:








Earnings from continuing operations

$

1.02



$

1.25



$

2.13



$

2.43


Losses from discontinued operations





(0.01)



(0.01)


Net earnings

$

1.02



$

1.25



$

2.12



$

2.42


Average number of common shares outstanding:








Basic

129.3



128.0



128.7



130.7


Diluted

131.5



130.9



131.4



133.8










(1) Excludes restaurant depreciation and amortization as follows:

$

95.8



$

83.2



$

277.2



$

242.2



 


DARDEN RESTAURANTS, INC.

CONSOLIDATED BALANCE SHEETS

(In millions)



2/24/2013


5/27/2012


(Unaudited)



ASSETS




Current assets:




Cash and cash equivalents

$

103.9



$

70.5


Receivables, net

68.1



71.4


Inventories

432.6



404.1


Prepaid income taxes

12.7



12.2


Prepaid expenses and other current assets

82.5



74.9


Deferred income taxes

153.6



124.5


Total current assets

$

853.4



$

757.6


Land, buildings and equipment, net

4,335.0



3,951.3


Goodwill

904.5



538.6


Trademarks

574.2



464.9


Other assets

290.7



231.8


Total assets

$

6,957.8



$

5,944.2


LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




Accounts payable

$

324.8



$

260.7


Short-term debt

216.9



262.7


Accrued payroll

135.5



154.3


Accrued income taxes

12.9




Other accrued taxes

69.7



60.4


Unearned revenues

315.4



231.7


Current portion of long-term debt



349.9


Other current liabilities

460.2



454.4


Total current liabilities

$

1,535.4



$

1,774.1


Long-term debt, less current portion

2,502.4



1,453.7


Deferred income taxes

369.9



312.9


Deferred rent

223.4



204.4


Obligations under capital leases, net of current installments   

53.0



54.4


Other liabilities

323.4



302.7


Total liabilities

$

5,007.5



$

4,102.2


Stockholders' equity:




Common stock and surplus

$

1,184.5



$

2,518.8


Retained earnings

930.9



3,172.8


Treasury stock

(8.5)



(3,695.8)


Accumulated other comprehensive income (loss)

(150.3)



(146.6)


Unearned compensation

(6.3)



(7.2)


Total stockholders' equity

$

1,950.3



$

1,842.0


Total liabilities and stockholders' equity

$

6,957.8



$

5,944.2



 


DARDEN RESTAURANTS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)



Nine Months Ended


2/24/2013


2/26/2012

Cash flows—operating activities




Net earnings

$

278.8



$

324.3


Losses from discontinued operations, net of tax benefit

0.5



0.7


Adjustments to reconcile net earnings from continuing operations to cash flows:  




Depreciation and amortization

292.8



258.8


Stock-based compensation expense

36.0



41.3


Change in current assets and liabilities and other, net

81.9



(74.6)


Net cash provided by operating activities of continuing operations

$

690.0



$

550.5


Cash flows—investing activities




Purchases of land, buildings and equipment

(518.5)



(483.4)


Proceeds from disposal of land, buildings and equipment



3.3


Cash used in business acquisitions, net of cash acquired

(577.4)



(58.6)


Increase in other assets

(23.0)



(21.1)


Net cash used in investing activities of continuing operations

$

(1,118.9)



$

(559.8)


Cash flows—financing activities




Proceeds from issuance of common stock

49.4



45.1


Income tax benefits credited to equity

10.4



12.0


Dividends paid

(193.2)



(168.6)


Repurchases of common stock

(52.4)



(357.0)


ESOP note receivable repayment

0.9



1.5


Proceeds from issuance of short-term debt, net

(45.7)



102.2


Repayment of long-term debt

(350.9)



(1.5)


Principal payments on capital leases

(1.2)



(1.2)


Proceeds from issuance of long-term debt

1,050.0



400.0


Payment of debt issuance costs

(7.4)



(5.1)


Net cash provided by financing activities of continuing operations

$

459.9



$

27.4


Cash flows—discontinued operations




Net cash used in operating activities of discontinued operations

(0.3)



(0.4)


Net cash provided by investing activities of discontinued operations

2.7



0.3


Net cash provided by (used in) discontinued operations

$

2.4



$

(0.1)






Increase in cash and cash equivalents

33.4



18.0


Cash and cash equivalents - beginning of period

70.5



70.5


Cash and cash equivalents - end of period

$

103.9



$

88.5


 

SOURCE Darden Restaurants, Inc.: Financial

(Analysts) Matthew Stroud (407) 245-6458; (Media) Rich Jeffers (407) 245-4189
Fri, 15 Mar 2013 08:30:00 -0400

ORLANDO, Fla., March 15, 2013 /PRNewswire/ -- Darden Restaurants, Inc., Orlando, FL, (DRI) will host its Fiscal 2013 Third Quarter conference call on Friday, March 22, 2013 at 8:30 am ET.  The conference call will be broadcast live over the Internet.  Clarence Otis, Chairman & CEO, and other senior management invite you to listen to a discussion of third quarter results. The subjects to be covered may also include forward-looking information, such as the outlook for the current month or quarter, and the company's previously-announced earnings guidance.  Questions may be poised to management by participants on the call and in response the company may disclose additional material information.

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

A copy of our press release announcing our earnings, the Form 8-K used to file the release with the Securities and Exchange Commission, and any other financial and statistical information about the period covered in the conference call, including any information required by Regulation G, will be available under the heading "Investor Relations" on our website at www.darden.com.

To listen to the call live, please go to the following website at least fifteen minutes early to register, download, and install any necessary audio software.  For those who cannot listen to the live broadcast, a replay will be available shortly after the call.

What:      

Darden Restaurants, Inc. FY13 Third Quarter Earnings Conference Call



When:      

8:30 am ET, Friday, March 22, 2013



Where:      

http://www.videonewswire.com/event.asp?id=92858



How:          

Live over the Internet – Simply log on to the web at the address above

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate $8.0 billion in annual sales. Headquartered in Orlando, and employing more than 185,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2012, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the second year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House — reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

Source: F

SOURCE Darden Restaurants, Inc.: Financial

Analysts: Matthew Stroud, 1-407-245-6458, or Media: Rich Jeffers, 1-407-245-4671
Fri, 01 Mar 2013 09:18:00 -0500

ORLANDO, Fla., March 1, 2013 /PRNewswire/ -- Darden Restaurants, Inc., (NYSE: DRI) will be presenting at Raymond James 34th Institutional Investors Conference to be held Orlando, Florida.  There will be an on-line simulcast of the Company's presentation which begins at 4:35 pm (Eastern) on Monday, March 4, 2013, available at the Company's website, www.darden.com.  A webcast of the Company's presentation will be available over the Internet at: http://wsw.com/webcast/rj82/dri/

(Logo: http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

The archived webcast will also be available on the home page of the company's website www.darden.com through April 1, 2013. 

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate $8.0 billion in annual sales. Headquartered in Orlando, and employing more than 185,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2012, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the second year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House — reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

SOURCE Darden Restaurants, Inc.: Financial

(Analysts) Matthew Stroud, 1(407) 245-6458, or (Media) Rich Jeffries, 1(407) 245-4189
Mon, 25 Feb 2013 08:00:00 -0500

ORLANDO, Fla., Feb. 18, 2013 /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) will be webcasting their Darden 2013 Analyst & Investor Day being held in Orlando, FL on Monday, February 25th  and Tuesday, February 26, 2013. 

(Logo:  http://photos.prnewswire.com/prnh/20050203/FLTH026LOGO )

On Monday, February 25th, the webcast will begin at 2:00 p.m. ET and end at 6:00 p.m. ET.  Please go to http://www.videonewswire.com/event.asp?id=91940  to access Monday's webcast. 

On Tuesday, February 26th, the webcast will begin at 8:00 a.m. ET and end at 12:00 p.m. ET.  Please go to http://www.videonewswire.com/event.asp?id=91941  to access Tuesday's webcast.

Live Webcast Agenda

Monday, February 25, 2013
2:00 p.m.6:00 p.m. ET

2:00 p.m. Presentations:

  • Drew Madsen, President & Chief Operating Officer
  • Chris Chang, SVP, Technology Strategy
  • Brad Richmond, SVP & Chief Financial Officer
  • Clarence Otis, Chairman & Chief Executive Officer

6:00 p.m.  Conclude

Tuesday, February 26, 2013
8:00 a.m.12:00 p.m. ET

8:00 a.m. Presentations:

  • Drew Madsen, President & Chief Operating Officer
  • Dave George, President, Olive Garden
  • Val Insignares, President, LongHorn
  • Dave Pickens, President, Red Lobster
  • Gene Lee, President, Specialty Restaurants Group
  • Harald Herrmann, President, Yard House
  • Jim Lawrence, Chief Supply Chain Officer
  • Clarence Otis & Drew Madsen

12:00 pm   Adjourn

The archived webcasts will also be available on the home page of the company's website www.darden.com  through March 26, 2013. 

Darden Restaurants, Inc., (NYSE: DRI), the world's largest full-service restaurant company, owns and operates more than 2,000 restaurants that generate over $8.0 billion in annual sales. Headquartered in Orlando, Fla., and employing more than 190,000 people, Darden is recognized for a culture that rewards caring for and responding to people. In 2013, Darden was named to the FORTUNE "100 Best Companies to Work For" list for the third year in a row and is the only full-service restaurant company to ever appear on the list. Our restaurant brands – Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V's and Yard House – reflect the rich diversity of those who dine with us. Our brands are built on deep insights into what our guests want. For more information, please visit www.darden.com.

SOURCE Darden Restaurants, Inc.: Financial

Analysts: Matthew Stroud, 1-407-245-6458 or Media: Rich Jeffers, 1-407-245-4189