Darden Restaurants Q3 net earnings down to $107.5m
Published:24-March-2009
By Datamonitor staff writer
Total sales of $1.79 billion
Darden Restaurants has reported net earnings of $107.5m, or $0.78 per diluted share, for the third quarter ended February 22, 2009, compared to $126m, or $0.88 per diluted share, in the same quarter of fiscal 2008.
For the third quarter of fiscal 2009, total sales were $1.79 billion, compared to $1.81 billion in the same quarter of fiscal 2008.
For the nine months ended February 22, 2009, total sales were $5.24 billion, compared to $4.80 billion in the same period of fiscal 2008. Net earnings were $249.2m, or $1.78 per diluted share, compared to $275.4m, or $1.90 per diluted share, in the prior-year period.
Clarence Otis, chairman and chief executive officer of Darden Restaurants, said: "We're pleased with our sales and earnings performance this quarter given what was clearly a period of considerable macroeconomic weakness and consumer uncertainty. As many consumers respond to the current environment by reducing dining out frequency, having strong brands matters more than ever.
"And, our competitively superior same-restaurant sales results are the clearest indication that Darden has proven brands with broad appeal and strong guest loyalty. We also have talented and dedicated teams in our restaurants who are providing guests with outstanding experiences by executing at a high level."
