Darden Restaurants, Inc.NYSE
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  • Thu, Dec. 1, 1:15 PM
    • Darden Restaurants (DRI +2.8%) rallies after a strong endorsement arrive from Guggenheim.
    • Analyst Matthew Difrisco says he has "increased confidence" the company can deliver earnings outperformance.
    • Difrisco's new price target of $88 on Darden stands out in the crowd (average Street PT=$70.11).
    | Thu, Dec. 1, 1:15 PM | 3 Comments
  • Tue, Nov. 29, 10:35 AM
    • Darden Restaurants (DRI -1.6%) trades lower after Credit Suisse downgrades the restaurant stock to Neutral due to valuation.
    • Shares look overvalued even factoring in a higher premium for Darden in comparison to casual dining peers.
    • CS adjusts its price target on Darden to $72. Darden traded as high as $74.99 last week.
    | Tue, Nov. 29, 10:35 AM | 2 Comments
  • Mon, Nov. 28, 11:41 AM
    • Maxim turns cautious on Darden Restaurants (DRI -1.3%) after shares rose 20% in less than two months. Shares are rated at Neutral.
    • The long-term view on the restaurant operator from Maxim is still positive with Darden building new high-end restaurants and the labor regulatory environment expected to ease.
    • The investment firm also shifts to Neutral on Cracker Barrel (CBRL -1.5%) on a similar outlook. Shares of CBRL are up 18% since the U.S. election.
    • Source: Bloomberg
    | Mon, Nov. 28, 11:41 AM | 2 Comments
  • Thu, Nov. 17, 11:49 AM
    • It's been a frisky few weeks for restaurant stocks as 41 out of 51 companies with a market cap of over $50M are in positive territory for the period. Some pleasing reports during the earnings season and a positive read on the sector post-election have factored in to the gains for the previously beaten-down sector.
    • +20% gainers over the last month include Red Robin Gourmet Burgers (NASDAQ:RRGB), Fogo De Chao (NASDAQ:FOGO) and Texas Roadhouse (NASDAQ:TXRH).
    • +10% risers include Denny's (NASDAQ:DENN), Buffalo Wild Wings (NASDAQ:BWLD), Cracker Barrel (NASDAQ:CBRL), Chuy's Holdings (NASDAQ:CHUY), Ruth's Hospitality (NASDAQ:RUTH), Popeyes Louisiana Kitchen (NASDAQ:PLKI), Darden Restaurants (NYSE:DRI), Bojangles (NASDAQ:BOJA), Del Frisco's Restaurant Group (NASDAQ:DFRG), Cheesecake Factory (NASDAQ:CAKE) and Wendy's (NYSE:WEN).
    • A piece in the WSJ today argues that investors may want to consider selling out of restaurant names after the recent rally.
    • Related ETF: BITE.
    | Thu, Nov. 17, 11:49 AM | 3 Comments
  • Tue, Nov. 15, 9:52 AM
    • Amazon (AMZN +2.6%announced today that it launched its one-hour restaurant delivery service in Irvine, California. More than 50 restaurants are included in the program, with most appearing to be independent operators.
    • Amazon Restaurants is now active in six California cities. The program is for Prime members only and includes no mark-ups from the pricing listed on the restaurants' menus.
    • A broader roll-out of Amazon Restaurants could eventually threaten InstaCart, GrubHub (NYSE:GRUB), HelloFresh and Blue Apron - as well as nip at after work takeout traffic at Whole Foods Market (NASDAQ:WFM). It could also be a concern for operators such as DineEquity (NYSE:DIN), Darden Restaurants (NYSE:DRI) and Brinker International (NYSE:EAT) as it gives independent restaurants a formidable partner.
    | Tue, Nov. 15, 9:52 AM | 20 Comments
  • Wed, Nov. 9, 6:47 AM
    | Wed, Nov. 9, 6:47 AM | 118 Comments
  • Mon, Oct. 17, 1:18 PM
    | Mon, Oct. 17, 1:18 PM | 5 Comments
  • Mon, Oct. 17, 5:33 AM
    • In just one recent week alone, three restaurant companies filed for chapter 11 bankruptcy protection - Cosi (OTCPK:COSIQ), Rita Restaurant (Don Pablo), and Garden Fresh Corp. (Souplantation, Sweet Tomatoes). At least five other operators have done the same this year.
    • Rattled by so many filings in such a short time frame, industry experts now say to expect more bankruptcies, closings, consolidations, and management shake-ups. Famous Dave's of America (NASDAQ:DAVE) is in the midst of closing many of its barbecue restaurants and last week named its fourth new CEO in four years.
    • Late this summer, Ruby Tuesday (NYSE:RT) announced plans to close almost 100 locations, and Bob Evans (NASDAQ:BOBE) in April shuttered 27 restaurants on top of 20 closed last year.
    • Behind the problems: Restaurant supply for years up until 2014 had been growing even as foot traffic hadn't. While restaurants have seen net closings since, other options have been drawing away even more customers - think meal-kit delivery services like Blue Apron, better prepared meal choices at supermarkets, and improved offerings at convenience stores.
    • "Restaurants are competing against a lot of those other choices, not just restaurants,” Darden (NYSE:DRI) CEO Eugene Lee told investors earlier this month.
    • Source: Julie Jargon and Lillian Rizzo at the WSJ
    | Mon, Oct. 17, 5:33 AM | 8 Comments
  • Fri, Oct. 14, 2:54 PM
    • Piper Jaffray is out with the results of its annual Taking Stock With Teens Survey. The top brands listed by the 10K teens included in the survey are posted below.
    • Top clothing brands: Nike (NYSE:NKE) 29%, American Eagle Outfitters (NYSE:AEO) 9%, Forever 21 5%, Ralph Lauren (NYSE:RL) 4%, Urban Outfitters (NASDAQ:URBN) 3%.
    • Top handbag brands: Michael Kors (NYSE:KORS) 34%, Kate Spade (NYSE:KATE) 19%, Coach (NYSE:COH) 10%, Louis Vuitton (OTCPK:LVMHF) 5%, Longchamp Vera Bradley (NASDAQ:VRA) 3%.
    • Top footwear brands: Nike 51%, Vans (NYSE:VFC) 9%, Converse 7%, Adidas (OTCQX:ADDYY) 6%, Steven Madden (NASDAQ:SHOO) 2%.
    • Top restaurant chains: Starbucks (NASDAQ:SBUX) 14%, Chipotle (NYSE:CMG) 11%, Chick-fil-A 10%, Taco Bell (NYSE:YUM) 3%, Panera Bread (NASDAQ:PNRA) 3%, McDonald's (NYSE:MCD) 3%, Olive Garden (NYSE:DRI) 3%.
    • Nothing earth-shattering in the tech results, dominating teen mindspace are Snapchat (Private:CHAT), YouTube, Instagram and Netflix (NASDAQ:NFLX).
    | Fri, Oct. 14, 2:54 PM | 44 Comments
  • Wed, Oct. 5, 10:13 AM
    • The numbers don't lie: Olive Garden is on a hot streak
    • The Darden Restaurants (DRI +0.8%) property posted a 2% increase in same-store sales in the latest quarter to top the industry average by over 400 bps. That 2% mark was the 8th quarter in a row of positive same-store sales growth for the pasta chain.
    • Higher average tickets and an increase in popularity with teenagers and millennials are part of the reasons that Olive Garden has resurrected itself from its days of being the bottomless pit of free salads and breadsticks.
    • The OG comeback can be traced in part to a 294-page thesis released by stakeholder Starboard Value in 2014 on how to fix the chain.
    • Starboard has reduced its position in DRI to 3.08%, according to data from Morningstar.
    | Wed, Oct. 5, 10:13 AM | 2 Comments
  • Tue, Oct. 4, 7:14 AM
    • Darden Restaurants (NYSE:DRI) reports same-restaurant sales increased 1.3% in FQ1. The modest gain is ahead of broad industry averages for a roughly overlapping period.
    • Same-restaurants sales by brand: Olive Garden +2.0%, Longhorn Steakhouse +0.6%, Capital Grille -1.2%, Yard Hosue 0.0%, Eddie V's -1.7%, Seasons 52 +0.7%, Bahama Breeze +3.9%.
    • Darden boosted its FY17 EPS guidance to $3.87 to $3.97, from a prior range of $3.80 to $3.90. The company expects FY17 same-restaurant sales growth of 1% to 2%.
    • DRI +5.61% premarket to $64.80.
    | Tue, Oct. 4, 7:14 AM
  • Tue, Oct. 4, 7:02 AM
    • Darden Restaurants (NYSE:DRI): FQ1 EPS of $0.88 beats by $0.06.
    • Revenue of $1.71B (+1.2% Y/Y) misses by $10M.
    • Shares +0.86% PM.
    • Press Release
    | Tue, Oct. 4, 7:02 AM | 7 Comments
  • Mon, Oct. 3, 5:30 PM
  • Thu, Sep. 29, 4:10 PM
    • Darden Restaurants (NYSE:DRI) declares $0.56/share quarterly dividend, in line with previous.
    • Forward yield 3.69%
    • Payable Nov. 1; for shareholders of record Oct. 10; ex-div Oct. 5.
    | Thu, Sep. 29, 4:10 PM
  • Sat, Sep. 10, 12:17 PM
    • The sluggish trend continues in the restaurant sector with same-store sales down 0.6% in August, according to the latest read from Black Box Intelligence.
    • Same-store traffic was 2.7% lower Y/Y during the month to improve on the 3.9% drop recorded in July. Average guest check across the industry was up 2.3% to help offset for some of the loss of customers.
    • Another weak month in the Southwest (sales -5%, traffic -7%) doesn't bode well for chains with a high concentration of stores in Texas.
    • Though the broad read from analysts is that consumer spending is still tight in the U.S., there are also some concerns that restaurant chains are having trouble building brand loyalty with millennials giving their business to independent eateries.
    • Related ETF: BITE.
    | Sat, Sep. 10, 12:17 PM | 12 Comments
  • Mon, Aug. 29, 10:52 AM
    • Keybanc says mixed beverage revenue at restaurants in Texas fell harder in July than the national average.
    • The analyst team led by Christopher O'Cull notes that Texas Roadhouse (NASDAQ:TXRH) already updated investors on its July trends during a guidance update, but warns on decelerating same-restaurant sales for Buffalo Wilds Wings (NASDAQ:BWLD), Olive Garden (NYSE:DRI), and Kona Grill (NASDAQ:KONA) during the month. Analysis suggests that Chili's (NYSE:EAT) outperformed and may end up with a positive SRS mark.
    • O'Cull ranks #847 out of the 4,127 analysts listed on TipRanks.com.
    | Mon, Aug. 29, 10:52 AM