Shares Less Attractive After Recent Run, but Darden's Value and Convenience Efforts Still Impressive
Darden continues to make its case as one of the more interesting restaurant turnaround stories in recent memory, with second-quarter consolidated comps of 1.7% outpacing industry averages by 4-5 points, and cost-containment efforts and food commodity deflation offsetting higher labor costs and driving 10 basis points of adjusted operating margin expansion (7.1%). The second-quarter results reaffirmed our view that the restaurants best positioned to drive profitable growth over a longer horizon a...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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