Industry Headwinds Linger, but In-Restaurant Menu/Execution, To-Go Orders Help Darden Outpace Peers
With the market bracing for disappointment based on recent warnings from other casual-dining players and third-party data indicating lackluster industry same-store sales the past few months, Darden bucked the trend with a solid start to its fiscal 2017 on both the top and bottom line. Total comps of 1.3% may not look like much, but with the industry declining 2%-3% this quarter (based on MillerPulse data), we view the results positively and as an affirmation of recent drivers, including a menu o...Darden Restaurants is a restaurant company. The company owns and operates restaurants through subsidiaries in the U.S. and Canada under the Olive Garden?, LongHorn Steakhouse?, Cheddar's Scratch Kitchen?, Yard House?, The Capital Grille?, Seasons 52?, Bahama Breeze?, and Eddie V's Prime Seafood? trademarks. The company has four reportable segments: Olive Garden; LongHorn Steakhouse; Fine Dining (which includes The Capital Grille and Eddie V's); and Other Business (which includes Cheddar's Scratch Kitchen, Yard House, Seasons 52, Bahama Breeze and results from its franchise operations).
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