Darden Restaurants reports total sales up 6.5% to $2.06bn in Q1

24th September 2018 (Last Updated September 24th, 2018 13:11)

US multi-brand operator Darden Restaurants has reported a total sales of $2.06bn in the first quarter ending 26 August 2018, a 6.5% increase compared to $1.93bn for the same period in the previous year.

Darden Restaurants reports total sales up 6.5% to $2.06bn in Q1
Darden Restaurants operates Cheddar’s restaurant brand. Credit: Darden Concepts.

US multi-brand operator Darden Restaurants has reported a total sales of $2.06bn in the first quarter ending 26 August 2018, a 6.5% increase compared to $1.93bn for the same period in the previous year.

The restaurant also saw growth of 3.2% from the addition of 52 new restaurants.

Total operating costs and expenses of the company were $1.87bn, compared to $1.76bn for the same period in the previous year.

The company also reported operating income of $189.1m, compared to $174.5m for the same period in the previous year.

"Our competitive advantages continue to work hard for us, allowing us to invest in our people and brands to deliver exceptional guest experiences."

In addition, net earnings per share of the company were $1.34 compared to $0.95 for the same period last year.

Darden Restaurants CEO Gene Lee said: “We are pleased to report another quarter of strong results and market share gains.

“Our competitive advantages continue to work hard for us, allowing us to invest in our people and brands to deliver exceptional guest experiences.”

The company has also reported a 3.3% increase in blended same-restaurant sales for the first quarter.

Darden currently operates 1,753 restaurants under various restaurant brands such as Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. It has 180,000 employees serving 390 million customers annually.