Thu, Jun. 25, 11:02 AM
- Restaurant IPO names Bojangles (BOJA +1.7%), Wingstop (WING +2%), Shake Shack (SHAK +4.2%), and Habit Restaurants (HABT +2.1%) are all higher on momentum moves.
- Gains for Brinker International (EAT +2%) and Darden Restaurants (DRI +1.3%) are tied to business strategy decisions - a higher mix of company-owned restaurants for Brinker and a REIT plan for Darden.
- While the names above have all generated plenty of buzz this year, the list of top four stocks in the sector by share price return may surprise.
- YTD leaders: Papa Murphy's (NASDAQ:FRSH) +81.1%, Carrols Restaurant Group (NASDAQ:TAST) +40%, Dave & Buster's Entertainment (NASDAQ:PLAY) +35%, Chuy's Holdings (NASDAQ:CHUY) +32%.
- Previously: Darden Restaurants on the move again (Jun. 24 2015)
- Previously: Brinker International buys 103 Chili's restaurants (Jun. 25 2015)
Wed, Jun. 24, 2:21 PM
- Darden Restaurants (DRI +2.8%) trades higher as a wave of analysts reset expectations after the company's solid earnings report and REIT plan unveiling yesterday.
- BMO Capital Markets, Barclays, Deutsche Bank, and RBC Capital all lifted their PTs on the company.
- Previously: Profit jumps at Darden Restaurants as Starboard effect takes hold (June 23)
- Previously: REIT plan announced by Darden Restaurants (June 23)
Tue, Jun. 23, 9:16 AM
Tue, Jun. 23, 7:31 AM
- Darden Restaurants (NYSE:DRI) announces it will pursue a REIT separation of its business.
- The company plans to transfer ~430 of its company-owned restaurants to the REIT under a leaseback arrangement.
- Proceeds will go to retiring long-term debt.
- Previously: Darden Restaurants beats by $0.15, beats on revenue
- Previously: Profit jumps at Darden Restaurants as Starboard effect takes hold
- DRI +7.0% premarket.
Tue, Jun. 23, 7:24 AM
- Darden Restaurants (NYSE:DRI) reports same-restaurants sales increased 3.8% in FQ4.
- Comp growth by brand: Olive Garden +3.4%, Yard House +3.2%, LongHorn Steakhouse +5.2%, Seasons 52 +3.1%, The Capital Grille +4.4%, Bahama Breeze +1.7%, Eddie V's +5.2%.
- Total operating costs and expenses increased at a slower pace than sales, up 9.3% Y/Y to $1.7278B.
- The company saw profit increase at all four segments during the quarter.
- Guidance: Darden sees full-year EPS of $3.05-$3.20 vs. $2.88.
- Previously: Darden Restaurants beats by $0.15, beats on revenue
- DRI +7.1% premarket to $74.29.
Fri, Jun. 19, 10:09 AM
- KB Home CEO Jeffrey Mezger is confident of his company's ability to achieve "measurable year-over-year earnings growth in H2" after reporting new order growth of 33% in units and 38% in dollars in FQ2, and backlog growth of 39% in units and 57% in dollars.
- KB Home is up 6%, leading the ITB +1.4%, and XHB +0.8% even as the major averages slip.
- Toll Brothers (TOL +2.3%), Hovnanian (HOV +2.7%), Lennar (LEN +3%), Ryland (RYL +2%), D.R. Horton (DRI +2.5%), Pulte (PHM +2.5%)
- Previously: KB Home gains following earnings beat (June 19)
- Previously: KB Home beats by $0.02, beats on revenue (June 19)
Fri, Mar. 20, 7:15 AM
- Darden Restaurants (NYSE:DRI) reports a 3.2% rise in comparable-restaurant sales in FQ3 with strength seen across its brands on increased pricing and traffic.
- Comparable-restaurant growth by brand: Olive Garden +2.2%, Longhorn Steakhouse +5.4%, Yard House +5.4%, The Capital Grille +6.1%, Seasons 52 +5.2%, Bahama Breeze +3.2%, Eddie V's +9.6%.
- Food and beverage costs +9.3% to $530.7M. SG&A expenses -13% to $134.2M.
- Guidance: FQ4 EPS of $0.91-$0.94 expected vs. $0.89 consensus.
- DRI +1.62% premarket to $65.92.
Tue, Feb. 24, 10:53 AM
- Restaurant stocks are out-performing market averages again as more chains report improved comparable-restaurant sales growth.
- The read on Q1 is that pricing and traffic trends are strong, despite what some broad measures of overall consumer confidence show.
- The $2 gas benefit is believed by analysts to have had a greater impact on restaurant spending than other areas of retail.
- Gainers include Luby's (LUB +4.9%), Cosi (COSI +5.4%), Rave Restaurant Group (RAVE +4.5%), Texas Roadhouse (TXRH +2.4%), Krispy Kreme Dougnuts (KKD +2.8%), Popeyes Louisian Kitchen (PLKI +1.7%), Bob Evans Farms (BOBE +1.1%), Darden Restaurants (DRI +1.4%).
- Even McDonald's (MCD +0.8%), which trailed the Q4 comp average in the sector by a wide margin, is out ahead of the S&P 500.
- Previously: Cracker Barrel +4.1% after traffic accelerates and guidance lifted
Dec. 16, 2014, 4:34 PM
- Guidance: Fiscal 2015 adjusted EPS is expected to increase 32-35% from 2014 to $2.25-$2.30 per share (previous bottom end was $2.22).
- Buybacks: In FQ2, company took receipt of about 8.6M shares as first installment of the $500M accelerated share repurchase program. Since quarter's end, company has taken receipt of another 1.3M shares.
- Turning to FQ2 operations, comp store sales: Olive Garden +0.5%, LongHorn Steakhouse +2.6%, The Capital Grille +5%, Eddie V's +4.9%, Yard House +3.7%, Seasons 52 +1.2%, Bahama Breeze -0.6%.
- Previously: Darden Restaurants beats by $0.01, beats on revenue (Dec. 16, 2014)
- DRI +2% after hours
Dec. 16, 2014, 4:12 PM
Nov. 18, 2014, 4:44 PM
- CFO for the last eight years, Brad Richmond is out, effective March 2015, or sooner if a successor is found. Also exiting are Chief Human Resources Officer Daisy Ng and SVP Government and Community Affairs Bob McAdam.
- In addition to the management changes, Darden (NYSE:DRI) is streamlining support staff, affecting (cutting) about 60 employees. Another 25 open positions will be eliminated as well.
- In order to provide "greater line of sight for restaurant leadership teams," the company is eliminating one layer of field operations supervision for Olive Garden and LongHorn.
- Finally, Darden will shut down its aviation department, ceasing flight operations immediately and putting its aircraft on the block.
- Darden anticipates incurring one-time charges in FQ2 thanks to these changes.
- Source: Press Release
- Shares +2% after-hours
Nov. 11, 2014, 7:47 AM
Oct. 10, 2014, 9:41 AM
Sep. 12, 2014, 8:06 AM
- Darden Restaurants (NYSE:DRI) responds to the transformation plan offered up by Starboard Value this morning by leaning on its recent uptick in traffic trends.
- The company also maintains some of the Starboard strategies are already being implemented.
- Naturally, Darden wants shareholders to vote for its board nominees.
- Darden's Annual Shareholder Meeting is scheduled for October 10.
- DRI +2.8% premarket
Jul. 29, 2014, 9:54 AM
- A number of restaurants stocks are pushing higher after activist investors get their way at Darden Restaurants (DRI +3.5%) and DineEquity (DIN +6.2%) puts in a solid quarter.
- In the guessing game of which chain might get the most attention from restless institutional shareholders - Denny's (DENN +4.5%), Bob Evans (BOBE -0.2%), and Ignite Restaurants (IRG +3.5%) have been bantered around the most.
Jul. 28, 2014, 5:36 PM
DRI vs. ETF Alternatives
Darden Restaurants Inc owns and operates dining restaurants. Some of its trade names are Red Lobster, Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, Eddie V's Prime Seafood, Wildfish Seafood Grille and Yard House.
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