Darden Restaurants, Inc.
Stock Symbol: DRI
5900 Lake Ellenor Drive
Darden Restaurants, Inc. Industry:
Darden Restaurants, Inc. Description:
Darden Restaurants, Inc. is a casual dining restaurant company that, as of May 25, 2003, operated 1,271 restaurants in the United States and Canada. In the United States, the Company operated 1,234 restaurants in 49 states (except Alaska), including 642 Red Lobster, 518 Olive Garden, 34 Bahama Breeze, 39 Smokey Bones BBQ and one Seasons 52 restaurants.
Darden Restaurants, Inc. Financial Summary:
For the 13 weeks ended 28 August 2005, Darden Restaurants, Inc.'s revenues increased 10% to $1.41B. Net income increased 20% to $85.5M. Revenues reflect increased U.S. same-restaurant sales at Olive Garden and Red Lobster and a net increase of 57 company-owned restaurants since the first quarter of fiscal 2005. Net income also reflects cost savings initiatives, lower dairy costs, lower workers' compensation expenses, and increased sales leverage.
Darden Restaurants, Inc. Business Summary:
Darden Restaurants, Inc. is a casual dining restaurant company, which operates 1,381 restaurants in the United States and Canada. In the United States, the Company operates 1,344 restaurants in 49 states (the exception being Alaska), including 648 Red Lobster, 557 Olive Garden, 32 Bahama Breeze, 104 Smokey Bones Barbeque & Grill and three Seasons 52 restaurants. In Canada, the Company operates 37 restaurants, including 31 Red Lobster and six Olive Garden restaurants. The Company owns and operates all of its restaurants in the United States and Canada, with no franchising. Of its 1,381 restaurants open on May 29, 2005, 838 were located on owned sites and 543 were located on leased sites. In Japan, as of May 29, 2005, the Company licensed 37 Red Lobster restaurants to an unaffiliated Japanese corporation that operates the restaurants under an area development and franchise agreement.