{"id":34650,"date":"2012-09-22T08:04:00","date_gmt":"2012-09-22T08:04:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/darden-restaurants-reports-q1-results-dri\/34650\/"},"modified":"2012-09-22T08:04:00","modified_gmt":"2012-09-22T08:04:00","slug":"darden-restaurants-reports-q1-results-dri","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/darden-restaurants-reports-q1-results-dri\/34650\/","title":{"rendered":"Darden Restaurants Reports Q1 Results (DRI)"},"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>Darden Restaurants Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=DRI\" target=\"_blank\" rel=\"noopener\">NYSE: DRI<\/a>) jumped 4.55% on Friday after the company reported better-than-expected fiscal first quarter results even as it focuses more on modernizing Olive Garden and Red Lobster Chains in an effort to make them trendier and affordable in the wake of economic slowdown.<\/p>\n<p><span id=\"more-34650\"><\/span><\/p>\n<p>Darden also known for its LongHorn Steakhouse and some other smaller chains saw its business wobble as consumer continued to spend thrifty amid high level of unemployment and uncertainty surrounding the macroeconomic environment. in order to attract higher guest\u2014just like any other food chain in the industry-was compelled to offer attractive deals while\u00a0 rising both input costs and competition also weighed on company\u2019s financials.<\/p>\n<p>Besides promoting its \u201cvalue deals\u201d, the company is also revamping its restaurants\u2019 interior designs, menu, marketing campaigns and cutting costs.<\/p>\n<p>For the quarter which ended on Aug. 26, the specialty group&#8217;s sales at restaurants open at least 16 months climbed 2.2%. Same-restaurant-sales in Olive Garden rose 0.3% but it fell 2.6% at Red Lobster For LingHorn, same-restaurant-sales jumped by 3.6%.<\/p>\n<p>Darden posted an overall profit of $110.8 million, or 85 cents a share, compared to $106.6 million, or 78 cents a share, in the year earlier quarter. Sales climbed 4.8% to $2.03 billion. Analysts polled by Thomson Reuters had forecasted earnings of 84 cents on revenue of $2.03 billion.<\/p>\n<p>Looking ahead, the company said that it will continue offering lowly priced appetizers. For instance, its Red Lobster chain\u2019s current menu only offers 40% of items for less than $15 but soon 60% of the entrees will be priced under $15. \u00a0Darden\u2019s , Chief operating officer Drew Madsen also said that company\u2019s Olive Garden Chain will also see a change as the company tries to \u201cfurther strengthen affordability\u201d.\u00a0 Even though check amounts might go down due to prices custs, more traffic and labor costs will offset losses, said Madsen.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120924054152\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fdarden-restaurants-reports-q1-results-dri%2F34650&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/darden-restaurants-reports-q1-results-dri\/34650\">\nDarden Restaurants Reports Q1 Results (DRI)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-settles-higher-outlook-bullish\/34649\">\nGold Settles Higher, Outlook Bullish<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-finish-on-a-mixed-note-post-loss-for-the-week\/34648\">\nStocks Finish on a Mixed Note; Post Loss for the Week<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-slip\/34624\">\nGold Prices Edge Higher; Silver Prices Slip<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-marginally-higher-in-late-trading-4\/34623\">\nStocks Marginally Higher in Late Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-higher-in-mid-day-trading-9\/34619\">\nStocks Higher in Mid-Day Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/lennox-international-lii-increases-dividend-11-percent\/34601\">\nLennox International &#8211; LII &#8211; Increases Dividend 11 Percent<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20120924054152im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd 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<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<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>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\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\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Darden Restaurants Inc (NYSE: DRI) jumped 4.55% on Friday after the company reported better-than-expected fiscal first quarter results even as 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