Darden Restaurants (DRI) Same-Store Sales And Earnings Up

Darden Restaurants, Inc. (NYSE: DRI), which operates the Olive Garden, Red Lobster and LongHorn Steakhouse chains, reported that during its fiscal 3rd quarter, same-store sales were up 1.3%, or 0.5% if Thanksgiving week is not counted, an improvement over last year's industry-wide 4.3% decline.

Darden Restaurants reported that it earned $134.3 million, or 94 cents per share, up from $107.5 million, or 78 cents per share, a year earlier.

Darden Restaurants' revenue rose to $1.87 billion, up from $1.8 billion a year earlier.

According to a poll of analysts by FactSet Research, the average expected results for Darden Restaurants were earnings of 92 cents per share, on revenue of $1.85 billion.

The company provided guidance in line with Wall Street expectations when it said that it anticipates earning $2.86 to $2.92 per share for the fiscal year, compared to the Wall Street average estimate of $2.87 per share.