Darden Restaurants, Inc.
NYSE:DRI
$ 125.34
+ $1.76 (1.42%)
$ 125.34
+ $1.76 (1.42%)
End-of-day quote: 08/08/2022

Darden Restaurants Stock

About Darden Restaurants

Darden Restaurants, Inc. operates as a full-service restaurant company. As of May 29, 2022, the company owned and operated 1,867 restaurants through subsidiaries in the United States and Canada under the Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, and The Capital Burger trademarks. As of May 29, 2022, the company also had 60 restaurants operated by independent third parties pursuant to area development and franchise agreements.

The company manages its restaurant brands in North America as operating segments. The brands operate principally in the U.S. within full-service dining.

The company operates through four segments: Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille and Eddie V’s) and Other Business (which includes Cheddar’s Scratch Kitchen, Yard House, Bahama Breeze, Seasons 52, The Capital Burger and results from its franchise operations).

Restaurant Brands

Olive Garden

Olive Garden is an internally-developed brand and is the largest full-service dining Italian restaurant operator in the United States. Olive Garden offers a variety of Italian foods featuring fresh ingredients presented simply with a focus on flavor and quality, and a broad selection of imported Italian wines. Olive Garden maintains different menus across its trade areas to reflect geographic differences in consumer preferences, prices and selections, as well as a smaller portioned, lower-priced children’s menu. Darden Restaurants share price history

LongHorn Steakhouse

LongHorn Steakhouse is a full-service steakhouse restaurant brand with locations primarily in the eastern United States, operating in an atmosphere inspired by the American West. LongHorn Steakhouse opened its first restaurant in 1981 and the company acquired LongHorn Steakhouse in 2007 as part of the RARE Hospitality International, Inc. (RARE) acquisition. LongHorn Steakhouse restaurants feature a variety of menu items, including signature fresh steaks and chicken, as well as salmon, shrimp, ribs, pork chops and burgers.

Most dinner menu entrée prices range from $12.50 to $32.50, and most lunch menu entrée prices range from $9.00 to $13.00. The price of most entrées includes a side and/or salad and as much freshly baked bread as a guest desires. During fiscal 2022, the average check per person was approximately $24.00, with alcoholic beverages accounting for 9.0 percent of LongHorn Steakhouse’s sales. LongHorn Steakhouse maintains different menus for dinner and lunch and different menus across its trade areas to reflect geographic differences in consumer preferences, prices and selections, as well as a smaller portioned, lower-priced children’s menu.

Cheddar’s Scratch Kitchen

Cheddar’s Scratch Kitchen is a full-service restaurant brand operating primarily in Texas and throughout the southern, mid-western and mid-Atlantic regions of the United States. The casual dining menu features modern classics and American favorites cooked from scratch.

Yard House

Yard House is a full-service restaurant brand operating in metropolitan areas across the United States and is known for great food, classic rock and over 100 draft beer offerings. The American menu includes more than 100 chef driven items with a wide range of appetizers, snacks, burgers and steaks, street tacos, salads, sandwiches and a generous selection of vegetarian dishes.

Yard House design elements create a contemporary, yet casual, ‘come as you are’ environment. Most lunch and dinner menu entrée prices range from $9.00 to $48.00. During fiscal 2022, the average check per person was approximately $33.50, with alcoholic beverages accounting for 33.8 percent of Yard House’s sales. Yard House maintains different menus and selections of craft beers across its trade areas to reflect geographic differences in consumer preferences, prices and selections, as well as a smaller portioned, lower-priced children’s menu.

The Capital Grille

The Capital Grille is a fine dining restaurant brand with locations primarily in major metropolitan cities in the United States featuring relaxed elegance and style. Nationally acclaimed for dry aging steaks on the premises, the restaurants feature an award-winning wine list offering over 350 selections, personalized service, a comfortable club-like atmosphere, and premiere private dining rooms.

Most dinner menu entrée prices range from $34.00 to $95.00 and most lunch menu entrée prices range from $19.00 to $49.00. During fiscal 2022, the average check per person was approximately $92.50, with alcoholic beverages accounting for 27.7 percent of The Capital Grille’s sales.

Seasons 52

Seasons 52 is an internally-developed full-service restaurant brand with a casually sophisticated, fresh grill and wine bar that offers a seasonally changing menu with all items under 595 calories. The menu includes an international collection of wines, featuring 52 wines available by the glass, along with exceptional signature handcrafted cocktails. In 2003, Seasons 52 opened its first restaurant in Orlando, Florida.

Most lunch and dinner menu entrée prices range from $12.00 to $46.50. During fiscal 2022, the average check per person was approximately $47.50, with alcoholic beverages accounting for 24.4 percent of Seasons 52’s sales. Seasons 52 maintains an all-day menu in addition to different seasonal offerings, a pared-down lunch menu and a happy-hour menu.

Bahama Breeze

Bahama Breeze is an internally-developed full-service restaurant brand operating primarily in the eastern United States that offers guests the feeling of a Caribbean escape, with food, drinks and atmosphere found in the islands. The menu features distinctive, Caribbean-inspired fresh seafood, chicken and steaks as well as handcrafted tropical cocktails.

Most lunch and dinner menu entrée prices range from $8.50 to $24.00. During fiscal 2022, the average check per person was approximately $30.50, with alcoholic beverages accounting for 22.9 percent of Bahama Breeze’s sales. Bahama Breeze maintains different menus across its trade areas to reflect geographic differences in consumer preferences, prices and selections, as well as a smaller portioned, lower-priced children’s menu.

Eddie V’s

Eddie V’s is a fine dining restaurant brand with locations in major metropolitan cities in the United States, with a sophisticated and contemporary ambiance, featuring live music trios nightly in the V Lounge. Dishes are artistically prepared and feature an ever-changing array of seasonal seafood, along with critically acclaimed prime steaks, hand cut and broiled to perfection. The atmosphere provides an alluring dining experience reminiscent of a modern day Gatsby, infusing an indulgent experience with an irresistible vibe. Eddie V’s opened its first restaurant in 2000 and it acquired Eddie V’s in November 2011.

Most dinner menu entrée prices range from $35.00 to $102.00. During fiscal 2022, the average check per person was approximately $109.00, with alcoholic beverages accounting for 30.1 percent of Eddie V’s sales. Eddie V’s maintains different menus for dinner and varies its wine list to reflect geographic differences in consumer preferences, prices and selections.

The Capital Burger

The Capital Burger is an internally created, development-stage full-service restaurant concept with locations primarily in major metropolitan cities in the United States that offers guests a luxe burger experience. The Capital Burger opened its first restaurant in 2018. The menu features burgers made with a proprietary beef blend, sandwiches and appetizers. It is a bar-centric concept offering local craft beers, a unique wine list and spiked shakes. Multiple items take from the parentage of The Capital Grille, like the signature Stoli Doli, a pineapple-infused martini.

Most lunch and dinner menu entrée prices range from $16.00 to $30.00. During fiscal 2022, the average check per person was approximately $31.50, with alcoholic beverages accounting for 31.2 percent of The Capital Burger’s sales. The Capital Burger maintains an all-day menu in addition to a happy hour menu.

Strategy

All of the company’s restaurants fall within the full-service segment, which is highly fragmented and includes many independent operators and small chains. Although the company has continued to adapt its business model throughout the COVID-19 pandemic, its operating philosophy remains focused on strengthening the core operational fundamentals of the business by providing an outstanding guest experience rooted in culinary innovation, attentive service, engaging atmosphere, and integrated marketing. Integrated marketing is a key element of the company’s strategy, and scale enables it to be a leading advertiser in the full-service dining segment of the restaurant industry. The company’s strategy is to fully integrate systems to drive operational efficiencies and enable restaurant teams to focus on restaurant operations excellence.

Trademarks and Service Marks

The company regards its Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, The Capital Burger, Darden and Darden Restaurants service marks, and other service marks and trademarks related to its restaurant businesses, as having significant value and as being important to its marketing efforts.

Franchises, Joint Ventures and New Business Development

As of May 29, 2022, the company operated 1,867 restaurants through subsidiaries in the United States and Canada. The company owns all of those locations, except for two restaurants managed by it and owned by joint ventures in which it holds a majority ownership.

As of May 29, 2022, franchisees operated 34 franchised restaurants in the United States and 26 franchised restaurants outside of the United States. The company has area development, franchise and/or license agreements in place with unaffiliated operators to develop and operate Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, The Capital Grille and Bahama Breeze restaurants in various regions, such as United States (including Puerto Rico and Guam); Mexico; Central and South America (Brazil, Chile, Costa Rica, Ecuador, El Salvador and Panama); the Philippines; Aruba; and Saudi Arabia. The company licenses the sales and distribution of several items, including Olive Garden salad dressings, salad croutons and seasoning through various channels, including wholesale distribution chains and major grocery chains.

Seasonality

The company’s sales volumes have historically fluctuated seasonally. Typically, the company’s average sales per restaurant are highest in the winter and spring, followed by the summer, and lowest in the fall.

Government Regulation

The company’s facilities must comply with the applicable requirements of the Americans with Disabilities Act of 1990 (ADA) and related state accessibility statutes.

As a merchant and service provider of point-of-sale services, the company is also subject to the Payment Card Industry Data Security Standard issued by the Payment Card Industry Council (PCI DSS).

The company is subject to anti-corruption laws in the United States and in the international jurisdictions where it does business, including the Foreign Corrupt Practices Act.

History

Darden Restaurants, Inc. was founded in 1968. The company, a Florida corporation, was incorporated in 1995.

Country
Industry:
Founded:
1968
IPO Date:
05/09/1995
ISIN Number:
I_US2371941053

Contact Details

Address:
1000 Darden Center Drive, Orlando, Florida, 32837, United States
Phone Number
407 245 4000

Key Executives

CEO:
Cardenas, Ricardo
CFO
Vennam, Rajesh
COO:
Data Unavailable

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