Exhibit 99.1
drilogoa05.jpg
Darden Restaurants Reports Fiscal 2019 Fourth Quarter and Full Year Results;
Increases Quarterly Dividend 17% to $0.88;
And Provides Fiscal 2020 Outlook

ORLANDO, Fla., June 20, 2019 /PRNewswire/ -- Darden Restaurants, Inc., (NYSE:DRI) today reported its financial results for the fourth quarter and fiscal year ended May 26, 2019.
 
Fourth Quarter 2019 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year
Total sales increased 4.5% to $2.23 billion driven by the addition of 39 net new restaurants and a blended same-restaurant sales increase of 1.6%
Blended same-restaurant sales by brand:
 
+2.4% for Olive Garden
 
-3.2% for Cheddar's Scratch Kitchen
 
+3.3% for LongHorn Steakhouse
 
-1.4% for Yard House
 
+2.9% for The Capital Grille
 
-2.1% for Seasons 52
 
+2.0% for Eddie V’s
 
-1.9% for Bahama Breeze
Reported diluted net earnings per share from continuing operations increased 19.3% to $1.67
Adjusted diluted net earnings per share from continuing operations increased 26.6% to $1.76* after excluding approximately $0.09 of a non-cash charge related to restaurant asset impairments
The Company repurchased approximately $42 million of its outstanding common stock
* See the "Non-GAAP Information" below for more details

“I'm pleased with the results we achieved during the fourth quarter, which wrapped up another strong year of sales and profit growth for Darden," said CEO Gene Lee.  "Our results for the full year further strengthened our competitive position as we continued to grow market share and delivered competitively superior returns.”

Fiscal 2019 Financial Highlights Versus Fiscal 2018
Total sales increased 5.3% to $8.51 billion driven by the addition of 39 net new restaurants and a blended same-restaurant sales increase of 2.5%
Blended same-restaurant sales by brand:
 
+3.9% for Olive Garden
 
-3.4% for Cheddar's Scratch Kitchen
 
+3.3% for LongHorn Steakhouse
 
-1.2% for Yard House
 
+3.7% for The Capital Grille
 
-1.5% for Seasons 52
 
+2.8% for Eddie V’s
 
-1.0% for Bahama Breeze
Reported diluted net earnings per share from continuing operations increased 19.6% to $5.73
Adjusted diluted net earnings per share from continuing operations increased 21.0% to $5.82* after excluding approximately $0.09 of a non-cash charge related to fiscal 2019 fourth quarter restaurant asset impairments
The Company repurchased approximately $208 million of its outstanding common stock
* See the "Non-GAAP Information" below for more details

1

The following information was filed by Darden Restaurants Inc (DRI) on Thursday, June 20, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Darden Restaurants Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Darden Restaurants Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account