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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Darden Restaurants Earnings Fall 18% 0 comments
    Mar 24, 2014 11:09 AM | about stocks: DRI

    Originally published at

    Filing in Focus: Darden Restaurants 8-K, March 21, 2014

    Darden Restaurants, Inc. (NYSE:DRI) announced its financial results for the third fiscal quarter of 2014, reporting a net loss of 18% due to lagging sales in its brands but the largest decline with Red Lobster. Darden owns and operates Olive Garden, Red Lobster, and LongHorn Steakhouse as well as specialty restaurants including Bahama Breeze, The Capital Grille, and a few others. Same-restaurant sales declined the most, by 8.8%, at Red Lobster while its $611M in sales was 8.7% lower than the year-ago quarter. Overall net earnings fell from $134.5M and $1.02 per share a year ago to $109.5M and $0.82 per share this quarter. The company's board of directors announced a quarterly dividend in the amount of $0.55 per share to shareholders of record as of April 10, payable on May 5.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: DRI
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