Darden Restaurants Inc: Quarterly report
Darden reported a 5.1 percent increase in quarterly sales, but net earnings declined 9.5 percent due to rising operating costs.
Mixed for the companyWhat the numbers say
Revenue rose 5.1% to $3.2B versus the same quarter last year (14% down on the previous quarter); operating margin narrowed from 11.1% to 10.0%; diluted EPS $2.04 versus $2.19; cash was flat at $220.5M while debt was flat; diluted share count down 2.7% (buybacks).
What happened
- Total sales increased 5.1 percent to $3.20 billion, driven by 53 net new restaurants and a blended same-restaurant sales increase of 3.1 percent.
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