{"id":21447,"date":"2012-02-23T11:18:00","date_gmt":"2012-02-23T11:18:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/darden-steady-after-upbeat-forecast\/21445\/"},"modified":"2012-02-23T11:18:00","modified_gmt":"2012-02-23T11:18:00","slug":"darden-steady-after-upbeat-forecast","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/darden-steady-after-upbeat-forecast\/21447\/","title":{"rendered":"Darden Steady after Upbeat Forecast"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><span style=\"font-size: large;\">Shares of Darden Restaurants, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=DRI\"><strong><a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>:DRI<\/strong><\/a><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2011\/03\/68.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-6943\" title=\"Darden Restaurants\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2011\/03\/68-150x150.jpg\" alt=\"Darden Restaurants\" width=\"150\" height=\"150\"><\/a>) are steady in morning trade after the company raised its fiscal third quarter profit outlook. The today reported that it expects diluted net earnings per share from continuing operations for its fiscal third quarter ending February 26, 2012, to be approximately $1.23 to $1.25.\u00a0Analysts were only expecting a profit of $1.19 per share.<\/span><\/p>\n<p><span style=\"font-size: large;\">The Company also said that, compared to the prior year, blended U.S. same-restaurant sales for Olive Garden, Red Lobster and LongHorn Steakhouse for the third quarter will increase approximately +4% and blended U.S. same-restaurant sales for the Company&#8217;s Specialty Restaurant Group for the third quarter will increase approximately +6%.\u00a0 Among the Company&#8217;s large brands, U.S. same-restaurant sales for the third quarter are estimated to be up approximately +7% at LongHorn Steakhouse, +6% at Red Lobster and +2% at Olive Garden.\u00a0<\/span><\/p>\n<p><span style=\"font-size: large;\">The better than expected results were by driven an earlier start to the Lenten season and mild weather that prompted more people to eat out. Darden&#8217;s Red Lobster chain ties its annual LobsterFest promotion to the start of Lent.<\/span><\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p><span style=\"font-size: large;\">The company backed its previous full-year earnings and sales guidance, saying that it still expects its earnings from continuing operations to be up between 4 percent and 7 percent and for its sales to rise between 7 percent and 7.5 percent. This implies adjusted earnings of $3.55 per share to $3.65 per share and sales of between $8.03 billion and $8.06 billion for the fiscal year ending in May 2012. This is at the higher end of analyst estimates that are looking for $3.55 per share in profits on revenues of $8.00 billion.<\/span><\/p>\n<h2><span style=\"font-size: large;\">&#8220;We&#8217;re pleased with the results we&#8217;ve seen thus far in the third quarter,&#8221; said Clarence Otis, Chairman and Chief Executive Officer of Darden.\u00a0 &#8220;Each of our brands has solid sales momentum and, as we&#8217;ve anticipated for some time now, our year-over-year cost comparisons are trending in the right direction.\u00a0 As a result, we expect strong earnings growth the second half of the year and are affirming our sales and diluted net earnings per share outlook for the full fiscal year&#8221;.<\/span><\/h2>\n<h2><span style=\"font-size: large;\">\u00a0&#8221;One of the things we can&#8217;t control, of course, is weather.\u00a0 And, certainly, more severe weather than anticipated during the balance of the winter would adversely affect both sales and earnings.\u00a0 We are, however, confident in our promotional and other strategies and in our underlying momentum.\u00a0 And we continue to believe that, beyond this fiscal year, we have everything it takes to continue growing market share profitably and continue creating the kind of superior value our shareholders expect.&#8221;<\/span><\/h2>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/interpublic-financial-results-for-the-full-year-and-fourth-quarter-were-strong\/21562\"><br \/>\nInterpublic &#8211; Financial results for the full year and fourth quarter were strong<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-in-green-on-strong-consumer-sentiment-data\/21560\"><br \/>\nStocks in Green on Strong Consumer Sentiment Data<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/warner-chilcott-restructure-operations-to-move-to-a-wholesale-distribution-model\/21557\"><br \/>\nWarner Chilcott &#8211; Restructure operations to move to a wholesale distribution model<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/mobile-mini-results-for-the-q4-and-year-ended-december-31\/21555\"><br \/>\nMobile Mini &#8211; Results for the Q4 and year ended December 31<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/the-e-w-scripps-company-substantially-repositioned-scripps-in-2011\/21553\"><br \/>\nThe E.W. Scripps Company &#8211; Substantially repositioned Scripps in 2011<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/pepco-holdings-2011-was-a-year-of-significant-progress-on-our-key-initiatives\/21550\"><br \/>\nPepco Holdings &#8211; 2011 was a year of significant progress on our key initiatives<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/cyberonics-fiscal-third-quarters-record-sales-performance-was-very-strong\/21547\"><br \/>\nCyberonics &#8211; Fiscal third quarter&#8217;s record sales performance was very strong<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Darden Restaurants, Inc. (NYSE:DRI) are steady in morning trade after the company raised its fiscal third quarter profit [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[630],"class_list":["post-21447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-driv"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/21447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=21447"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/21447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=21447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=21447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=21447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}