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Darden Restaurants Inc (DRI.N)

DRI.N on New York Stock Exchange

85.19USD
28 Apr 2017
Change (% chg)

$-0.77 (-0.90%)
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Latest Key Developments (Source: Significant Developments)

Darden Restaurants to buy Cheddar's Scratch Kitchen for $780 mln
Monday, 27 Mar 2017 04:15pm EDT 

Darden Restaurants Inc : Darden Restaurants agrees to acquire Cheddar's Scratch Kitchen for $780 million; adds a casual dining value leader to Darden's portfolio of differentiated brands . Darden Restaurants Inc - expects between $20 and $25 million of annualized pre-tax run rate synergies from deal by fiscal 2019. . Darden Restaurants Inc says Darden will also pay $10 million for certain Cheddar's transaction-related tax attributes . Darden Restaurants Inc - Ian Baines, ceo of cheddar's, will remain president of Cheddar's and report to Gene Lee, Darden president and ceo . Darden Restaurants - deal expected to be accretive to co's diluted net earnings per share in FY 2018 by about 12 cents, excluding any acquisition and integration-related expenses .Darden Restaurants Inc - agreed to acquire Cheddar's Scratch Kitchen in an all-cash transaction from its stockholders.  Full Article

Darden Restaurants reports Q3 results
Monday, 27 Mar 2017 04:13pm EDT 

Darden Restaurants Inc - : Darden restaurants reports fiscal 2017 third quarter results and increases earnings outlook for the full fiscal year . Q3 sales $1.88 billion versus i/b/e/s view $1.87 billion . Sees fy 2017 earnings per share $3.95 to $4.00 . Q3 earnings per share $1.32 from continuing operations . Says same-restaurant sales increased 0.9% for quarter . Q3 earnings per share view $1.27 -- Thomson Reuters I/B/E/S . Fy2017 earnings per share view $3.94 -- Thomson Reuters I/B/E/S . Co estimates that more severe winter weather negatively impacted same-restaurant sales by -110 basis points in December . Says less severe winter weather positively impacted same-restaurant sales by +90 basis points in January and +70 basis points in February .Increased 2017 outlook for diluted net earnings reflects updated outlook for same-restaurant sales of approximately 1.5%..  Full Article

Darden restaurants reports Q2 sales $1.64 billion
Tuesday, 20 Dec 2016 07:00am EST 

Darden Restaurants Inc : Q2 Olive Garden sales $ 915.0 million versus $892.3 million . Qtrly earnings per share from continuing operations $0.64 . Quarter same-restaurant sales increased 1.7 pct for quarter . FY2017 earnings per share view $3.93, revenue view $7.09 billion -- Thomson Reuters I/B/E/S . Q2 earnings per share view $0.64 -- Thomson Reuters I/B/E/S . Darden Restaurants Inc says Q2 same-restaurant sales for Olive Garden rose 2.6 percent . There is now approximately $485 million remaining under current repurchase authorization . Sees 2017 same-restaurant sales of approximately 1.0 pct to 2.0 pct . Darden Restaurants reports fiscal 2017 second quarter results and reaffirms earnings outlook for the full fiscal year . Q2 sales $1.64 billion versus I/B/E/S view $1.65 billion .Reaffirms FY 2017 earnings per share view $3.87 to $3.97.  Full Article

Darden Restaurants announces new board member
Monday, 14 Nov 2016 05:00pm EST 

Darden Restaurants Inc : Announces new board member . Board of directors has appointed Nana Mensah to company's board, effective immediately .Board also voted to expand number of seats on board to eight.  Full Article

Darden Restaurants files for shelf offering of debt securities - SEC filing
Thursday, 6 Oct 2016 12:27pm EDT 

Darden Restaurants Inc :Darden Restaurants Inc files for shelf offering of debt securities; size not disclosed - SEC filing.  Full Article

Darden Restaurants reports Q4 earnings per share of $1.09
Thursday, 30 Jun 2016 07:12am EDT 

Darden Restaurants Reports Fiscal 2016 Fourth Quarter And Full Year Results; Reports Positive Same : Sees 2017 same-restaurant sales growth of 1.0% to 2.0% . Q4 earnings per share $1.10 from continuing operations . Qtrly olive garden total sales $981.8 million versus $1,037 million last year . Qtrly same-restaurant sales increased 1.7% on a fiscal calendar basis . Sees 2017 total capital spending of $310 to $350 million . Qtrly olive garden same-restaurant sales rose 1.6 percent . Sees board of directors increased quarterly dividend to $0 .56 per common share . Darden restaurants inc says new dividend represents a 12% increase over company's previous quarterly dividend of $0.50 . Fy2017 earnings per share view $3.99 -- Thomson Reuters I/B/E/S . Qtrly earnings per share $1.09 . Q4 earnings per share view $1.08 -- Thomson Reuters I/B/E/S . Restaurant sales for all brands; increases quarterly dividend; and provides fiscal 2017 outlook . Sees fy 2017 earnings per share $3.80 to $3.90 .Q4 revenue $1.79 billion versus i/b/e/s view $1.81 billion.  Full Article

SEC says golfer Phil Mickelson should repay trading gains based on tip from Las Vegas gambler
Thursday, 19 May 2016 08:30am EDT 

: U.S. SEC names golfer phil mickelson as "relief defendant" in civil lawsuit versus thomas Davis, william "billy" walters--filing . SEC says mickelson generated $931,000 profit in 2012 by trading in Dean Foods Co stock based on tip from walters . SEC says walters' tip to mickelson was based on inside information that walters had received from Davis, once dean's chairman . SEC says mickelson had previously placed bets with walters, a well-known gambler, and owed him money at the time of the tip . SEC says mickelson made his trades in three brokerage accounts that he controlled . SEC says mickelson "had not been a frequent trader," and had never bought Dean Foods stock before the 2012 purchase . SEC says mickelson bought his Dean Foods shares on July 30-31, 2012, and sold all of them on August 8, 2012 . SEC says mickelson repaid gambling debts to walters in September 2012, in part with proceeds from his trading in Dean Foods . SEC says mickelson was "unjustly enriched" by his trading and must disgorge his ill-gotten gains . SEC says mickelson's gains stemmed from the securities law violations by Davis and walters . SEC says it would not be "just, equitable, or conscionable" for mickelson to keep his ill-gotten gains.  Full Article

U.S. charges ex-Dean Foods chairman Thomas Davis, pro gambler William "Billy" Walters with insider trading
Thursday, 19 May 2016 08:23am EDT 

: U.S. unveils insider trading charges against ex-Dean Foods Co chairman Thomas Davis, pro gambler william "billy" walters . U.S. accuses Davis of securities fraud, wire fraud, conspiracy, obstruction of justice, perjury . U.S. accuses walters of securities fraud, wire fraud, conspiracy . U.S. says Davis from 2008-2014 leaked tips about dean's results and outlook, and the spinoff of its whitewave-alpro segment . U.S. says Davis also leaked material nonpublic tips he received from a ny investment firm about Darden Restaurants Inc . U.S. says Davis provided a variety of tips to walters, who then traded on the inside information . U.S. says Davis and walters were friends since the mid-1990s, with shared interests in sports, golf, gambling and business . U.S. says walters gave Davis kickbacks, including loans that were never repaid, in exchange for the inside information . U.S. says walters illegally generated profit of $32 million and avoided losses of $11 million trading in Dean Foods stock . U.S. says walters illegally generated profit of about $1 million trading in Darden stock.  Full Article

Darden Restaurants Board Declares Regular Quarterly Dividend
Thursday, 31 Mar 2016 05:00pm EDT 

Darden Restaurants, Inc:declared a regular quarterly cash dividend of $0.50 per share on the Company's outstanding common stock.The dividend is payable on May 2, 2016 to shareholders of record at the close of business on April 11, 2016.  Full Article

Darden Restaurants declares updated dividend and authorizes a new share repurchase program
Friday, 18 Dec 2015 07:00am EST 

Darden Restaurants Inc:Has declared a regular quarterly cash dividend of $0.50 per common share, a 14% increase, compared to the minimum quarterly dividend of $0.4375 disclosed on November 9, 2015.Dividend is payable February 1, 2016 to shareholders of record at the close of business on January 8, 2016.Darden's Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $500 million of its outstanding common stock.Repurchase program does not have an expiration and replaces all other outstanding share repurchase authorizations.  Full Article

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