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Darden Restaurants Inc Reaffirms FY 2013 Guidance

Thursday, 20 Dec 2012 07:00am EST 

Darden Restaurants Inc affirmed its financial outlook for fiscal 2013. The Company anticipates total sales growth of between +7.5% and +8.5% for fiscal 2013, based upon combined U.S. same-restaurant sales of approximately -1.0% to flat for Red Lobster, Olive Garden and LongHorn Steakhouse, incremental sales starting in fiscal September from the acquisition of Yard House and the opening of approximately 100 net new restaurants in fiscal 2013, not including the initial 40 Yard House restaurants operating at the close of the acquisition. And, the Company expects diluted net earnings per share from continuing operations of $3.29 to $3.49 for fiscal 2013, which includes approximately 8 to 10 cents of transaction and closing costs associated with the purchase of Yard House USA, Inc. The Company reported revenue of $7.999 billion and EPS of $3.58 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $8.59 billion and EPS of $3.39 for fiscal 2013. 

Company Quote

0.56 +1.12%
18 Sep 2014