All articles tagged with #darden restaurants
Darden Restaurants announced Bahama Breeze will shutter all remaining 28 locations by April 5, ending a 30-year run. About half of the outlets will close permanently while others are converted to different Darden brands, with Florida sites including the South Florida locations in Pembroke Pines and Kendall. The move follows earlier closures and talks of a potential sale.
Bahama Breeze will shutter all 28 locations in the U.S., including metro Atlanta sites; 14 stores will close on April 5, while the remaining 14 will be converted into other Darden-owned concepts over the next 12–18 months, with no specifics yet on what they will become.
Darden Restaurants will permanently close 14 Bahama Breeze locations and convert the remaining 14 into other company concepts over the next 12–18 months, with closures through April 5, 2026. The move follows Bahama Breeze being deprioritized among the company’s brands; Darden previously explored options including a sale or broader conversion. The company notes the converting and closing sites will continue as Bahama Breeze temporarily during the transition.
Washington's only Bahama Breeze location, in Tukwila, will close in April after a 30-year run as Darden Restaurants shuts down 14 Bahama Breeze locations nationwide; 93 employees may be offered transfer opportunities to other Darden brands like Yard House, Olive Garden, and The Capital Grille.
Orlando-based Darden Restaurants said it will shut down all remaining Bahama Breeze locations in the U.S., ending the brand after 30 years. Of the 28 locations, 14 will permanently close by April 5, while the other 14 will be converted to other Darden concepts over the next 12–18 months (with operations continuing during conversions). The company expects no material impact on its finances and will relocate as many affected employees as possible within the Darden portfolio.
Darden Restaurants is shutting Bahama Breeze’s remaining 28 locations after a 30-year run, with about half closing permanently and the other half being converted to other Darden brands over the next 12–18 months. The final day of operations is April 5, and closures span several states; the remaining sites will continue to operate as Bahama Breeze until they’re converted. Darden says it will redeploy as many Bahama Breeze staff as possible within its portfolio. The move comes amid inflation-driven pressure on casual-dining demand, even as other Darden brands like Olive Garden and LongHorn report sales gains and the stock has risen this year.
Darden Restaurants reported strong Q2 sales driven by Olive Garden and LongHorn Steakhouse, raising its full-year revenue outlook due to increased demand for value-oriented dining options despite higher ingredient costs, with growth in same-store sales and a positive outlook for fiscal 2026.
Darden Restaurants reported mixed quarterly results with a net income increase and strong sales growth driven by its brands like Olive Garden and LongHorn Steakhouse, and raised its revenue growth forecast for 2026, though its shares fell 6% premarket.
Darden Restaurants is considering closing or selling the Bahama Breeze brand due to strategic misalignment, while focusing on growing its successful Olive Garden chain and expanding internationally through new franchise agreements.
Darden Restaurants hit an all-time stock high after surpassing earnings and revenue estimates, driven by strong same-restaurant sales, new locations, and the acquisition of Chuy's Tex Mex, with the company announcing a $1 billion stock buyback.
Darden Restaurants exceeded quarterly sales estimates and raised its annual same-store sales forecast above analyst expectations, driven by strong demand at casual dining chains like Olive Garden, supported by menu innovations, delivery services, and promotional offers. Shares rose 3% premarket, despite a slightly lower forecast for annual earnings per share.
Olive Garden will raise menu prices by 2.5% to 3% over the next year to align with inflation, after keeping increases below inflation in recent years. Despite recent declines in same-store sales, Darden Restaurants, Olive Garden's parent company, aims to maintain value and customer experience amidst economic concerns.
Darden Restaurants CEO Rick Cardenas reports that customers are shifting from fast-food to casual-dining chains due to frustration with rising fast-food prices. Competitors like Chili's and Applebee's are capitalizing on this trend with targeted ad campaigns and deals. Despite this shift, Darden has not seen significant benefits, though it continues to outperform the broader casual-dining segment. Fast-food chains like McDonald's are also responding with new value meals to retain price-conscious customers.
Darden Restaurants Inc., the owner of Olive Garden and LongHorn Steakhouse, reported a 6.8% rise in total third-quarter sales to $3 billion, but CEO Rick Cardenas noted a shift in consumer behavior, with lower-income families dining out less while higher-income individuals are spending more. This reflects a two-track economy where lower-income consumers are pulling back while higher-income families are splurging. The company's earnings call also highlighted affordability challenges for lower-income households, with fast-food chains like McDonald's also facing similar issues. Despite this, Darden's sales at certain restaurants have reached record levels, indicating a somewhat return to the pre-COVID status quo in terms of income mix.
Darden Restaurants Inc., the owner of Olive Garden, experienced an 11% stock plummet after reporting lower-than-expected revenue and a pullback in consumer spending, particularly among lower income and older customers. The company attributed this trend to unfavorable weather conditions, elevated inflation, and changing consumer behavior. Despite acquiring new restaurants, only LongHorn Steakhouse saw growth in same-store sales. Darden updated its fiscal 2024 financial outlook, expecting sales for the fourth quarter to be approximately $11.4 billion and planning to open 50 to 55 new restaurants during the period.