EXHIBIT 99.1


dardenlogoa32.jpg
Darden Restaurants Reports Fiscal 2019 First Quarter Results and
Increases Financial Outlook For The Full Fiscal Year

 
ORLANDO, Fla., September 20, 2018 /PRNewswire/ --
Darden Restaurants, Inc., (NYSE:DRI) today reported its financial results for the first quarter ended August 26, 2018.
 
First Quarter 2019 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year
Total sales increased 6.5% to $2.06 billion, including 3.2% growth from the addition of 52 net new restaurants
Blended same-restaurant sales increased 3.3%
 
+5.3% for Olive Garden
 
-4.0% for Cheddar's Scratch Kitchen
 
+3.1% for LongHorn Steakhouse
 
+0.6% for Yard House
 
+3.9% for The Capital Grille
 
-1.9% for Seasons 52
 
+3.0% for Eddie V’s
 
+1.1% for Bahama Breeze

Reported diluted net earnings per share from continuing operations increased 41.1% to $1.34 and increased 35.4% from last year's adjusted diluted net earnings per share*
The Company repurchased approximately $31 million of its outstanding common stock
* See "Non-GAAP Information" below for more details

“We are pleased to report another quarter of strong results and market share gains,” said CEO Gene Lee. “Our competitive advantages continue to work hard for us, allowing us to invest in our people and brands to deliver exceptional guest experiences.”

Segment Performance
Segment profit represents sales, less costs for food and beverage, restaurant labor, restaurant expenses and marketing expenses.
 
 
Q1 Sales
 
 
 
Q1 Segment Profit
 
 
($ in millions)
 
2019
 
2018
 
% Change

 
2019
 
2018
 
% Change

Consolidated Darden
 
$2,061.4
 
$1,936.1
 
6.5
%
 
 
 
 
 
 
Olive Garden
 
$1,052.0
 
$989.9
 
6.3
%
 
$218.2
 
$199.1
 
9.6
 %
LongHorn Steakhouse
 
$430.4
 
$404.5
 
6.4
%
 
$70.2
 
$63.6
 
10.4
 %
Fine Dining
 
$129.9
 
$122.2
 
6.3
%
 
$20.7
 
$19.2
 
7.8
 %
Other Business
 
$449.1
 
$419.5
 
7.1
%
 
$65.3
 
$65.9
 
(0.9
)%

U.S. Same-Restaurant Sales Results
 
Q1
 
Olive
Garden
LongHorn Steakhouse
Same-Restaurant Sales
5.3%
3.1%
Same-Restaurant Traffic
1.5%
(0.3)%
Pricing
1.9%
1.6%
Menu-mix
1.9%
1.8%


1

The following information was filed by Darden Restaurants Inc (DRI) on Thursday, September 20, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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