Latest news with #casualdining
CTV News
3 hours ago
- Business
- CTV News
Darden Restaurants lifts sales forecast, beats quarterly estimates on casual dining demand
Darden Restaurants forecast annual same-store sales above estimates after strong quarterly results on Friday, banking on demand driven by food delivery and advertising efforts at its casual dining chains such as Olive Garden. Shares of the company rose about three per cent in premarket trading after the company also announced a new US$1 billion share repurchase program. Casual dining and fast casual restaurant chains, including Olive Garden and Shake Shack, have benefited from menu innovations and promotions to entice customers, offsetting the impact of consumers turning to home-cooked meals to save money. Meanwhile, fast food chains including burger giant McDonald's, Starbucks and Domino's Pizza have been struggling with tepid demand. Darden expects annual same-store sales to grow in the range of two per cent to 3.5 per cent, midpoint of which is above analysts' estimates of 2.64 per cent, as per data compiled by LSEG. Initiatives such as home deliveries with the help of Uber Direct and 'buy one, take one' offerings at Olive Garden have further helped the restaurant chain operator. Its consolidated same-store sales were up 4.6 per cent in the quarter compared to a year ago, with Olive Garden sales rising 6.9 per cent. The company posted fourth-quarter sales of $3.27 billion, edging past estimates of $3.26 billion. It logged adjusted profit of $2.98 per share for the quarter ended May 25, above estimates of $2.97 per share, owing to moderate price hikes and lower input costs. However, the company forecast annual earnings per share between $10.50 and $10.70, compared with estimates of $10.75 per share. (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Vijay Kishore)
Reuters
4 hours ago
- Business
- Reuters
Darden Restaurants lifts sales forecast, beats quarterly estimates on casual dining demand
June 20 (Reuters) - Darden Restaurants (DRI.N), opens new tab forecast annual same-store sales above estimates after strong quarterly results on Friday, banking on demand driven by food delivery and advertising efforts at its casual dining chains such as Olive Garden. Shares of the company rose about 3% in premarket trading after the company also announced a new $1 billion share repurchase program. Casual dining and fast casual restaurant chains, including Olive Garden and Shake Shack (SHAK.N), opens new tab, have benefited from menu innovations and promotions to entice customers, offsetting the impact of consumers turning to home-cooked meals to save money. Meanwhile, fast food chains including burger giant McDonald's (MCD.N), opens new tab, Starbucks (SBUX.O), opens new tab and Domino's Pizza (DPZ.O), opens new tab have been struggling with tepid demand. Darden expects annual same-store sales to grow in the range of 2% to 3.5%, midpoint of which is above analysts' estimates of 2.64%, as per data compiled by LSEG. Initiatives such as home deliveries with the help of Uber Direct and "buy one, take one" offerings at Olive Garden have further helped the restaurant chain operator. Its consolidated same-store sales were up 4.6% in the quarter compared to a year ago, with Olive Garden sales rising 6.9%. The company posted fourth-quarter sales of $3.27 billion, edging past estimates of $3.26 billion. It logged adjusted profit of $2.98 per share for the quarter ended May 25, above estimates of $2.97 per share, owing to moderate price hikes and lower input costs. However, the company forecast annual earnings per share between $10.50 and $10.70, compared with estimates of $10.75 per share.
Yahoo
16 hours ago
- Business
- Yahoo
Darden Restaurants Stock: Is DRI Outperforming the Consumer Discretionary Sector?
With a market cap of $26.3 billion, Darden Restaurants, Inc. (DRI) is the world's largest full-service restaurant operator, based in Orlando, Florida, with over 2,180 locations across the U.S., Canada, and select international markets. Its diverse brand portfolio includes casual dining favorites like Olive Garden, LongHorn Steakhouse, Cheddar's, Yard House, and Bahama Breeze, alongside upscale chains such as The Capital Grille, Eddie V's, Seasons 52, Ruth's Chris Steak House, and Chuy's. Companies valued at $10 billion or more are generally classified as 'large-cap' stocks, and Darden Restaurants fits this criterion perfectly. The company benefits from strong brand loyalty, consistent same-store sales growth in key segments like LongHorn, and disciplined operational execution that drives solid margins. Additionally, Darden maintains strong shareholder returns through regular dividends and share buybacks, reinforcing investor confidence. Is Palantir Stock Poised to Surge Amidst the Israel-Iran Conflict? 'It Has No Utility': Warren Buffett Doesn't Care How High Gold Goes, He Isn't a Buyer OpenAI CEO Sam Altman Says 'We Are Heading Towards a World Where AI Will Just Have Unbelievable Context on Your Life' Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. DRI shares are trading 1.9% below their 52-week high of $226.98, which they touched recently on June 17. DRI has increased 18.4% over the past three months, outpacing the broader Consumer Discretionary Select Sector SPDR Fund's (XLY) 8.8% rise during the same time frame. Over the longer term, Darden Restaurants has posted a strong performance, climbing 19.3% year-to-date while XLY has declined 6.2%. Over the past 52 weeks, its shares have advanced 46.6%, notably exceeding XLY's 16.4% gain during the same period, highlighting its relative strength within the consumer discretionary space. Indicating a bullish trend, DRI has been trading above its 50-day moving average since mid-April and over its 200-day moving averages since the end of August last year. On Mar. 20, shares of Darden Restaurants rose over 5% after delivering Q3 results. The company reported adjusted EPS of $2.80, just shy of the Street's estimate of $2.81, while revenue came in at $3.16 billion, slightly below the projected $3.21 billion. Looking ahead, Darden reaffirmed its full-year outlook, guiding for adjusted EPS between $9.45 and $9.52, with revenue expected to reach approximately $12.1 billion. Moreover, Darden Restaurants has outperformed its rival, Starbucks Corporation (SBUX), which has gained 15.1% over the past 52 weeks and 1.1% on a YTD basis. The stock has a consensus rating of 'Moderate Buy' from the 27 analysts covering the stock, and the mean price target of $223.85 implies a marginal premium from the prevailing market prices. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
3 days ago
- Business
- Yahoo
Finland's MICHELIN Map Remains Steady, But Helsinki's Casual Dining Scene is Bubbling Under
HELSINKI, June 17, 2025 /PRNewswire/ -- While Finland's Michelin-starred landscape remains largely stable, Helsinki's dining scene is anything but static. A vibrant wave of casual restaurants – led by chefs with fine dining pedigrees, is reshaping the city's culinary identity. This evolution isn't entirely new, but Finnish chefs are embracing it in a way that feels distinctly their own. Meanwhile, seasonal pop-ups on summer terraces and at festivals are elevating food culture and attracting new audiences. The world of gastronomy is increasingly turning its attention to the city as casual dining venues gain visibility and acclaim. Restaurants like Aoi, Maukku, Kuurna, and Wellamo combine innovative dishes with a relaxed, personal atmosphere, drawing both locals and visitors into a fresh food culture. "As a globally recognized leader in sustainable tourism, Helsinki's culinary professionals consistently draw inspiration from the high-quality ingredients sourced from Finland's natural environment. This further distinguishes and strengthens Helsinki's position as a thriving culinary travel destination", says Nina Vesterinen, Tourism Director for the city of Helsinki. International connections strengthen the scene Meanwhile, a wave of newly opened wine bars is broadening Helsinki's gastronomic appeal. Neighborhood spots like Pinocchio and Gadeplan bring a warm, European flair to Helsinki, while Klaava in Kruununhaka further expands the city's culinary map. While Helsinki has long been on the periphery, recent years have seen more chefs gain experience abroad, deepening Finland's global culinary ties. Local chefs are collaborating more closely with peers across Finland, the Nordics, and beyond, strengthening a vibrant, evolving ecosystem. Ina Niiniketo, restaurateur at Canvas Canteen located in Helsinki, recently traveled to New York to team up with US Top Chef contender and private chef Lana Lagomarsini at Visit Finland's 'Taste of Finland – A Midsummer Pop-up'. Restaurant Nolita, sister to Nolla, has started a new program called 'Co-Hosted Dinner Service'. Past guests have included Restaurant Lux from Rotterdam and the rising bistro star Barbarea from Tallinn. This initiative injects new energy and international influence into Helsinki's dining scene, fostering culinary exchange. Nolla – renowned for pushing boundaries in sustainability and collaboration – is preparing a pop-up on July 12th in Helsinki with chef Matthew Orlando, former Noma chef and the founder of Amass in Copenhagen, further cementing Helsinki's place on the global gastronomic map. "We want to contribute to Helsinki's evolving food scene — and for us, collaboration is a valuable way to learn and grow. At the same time, it's an opportunity to show our international peers what this city and its food culture are all about," says Albert Franch Sunyer, co-founder of restaurants Nolla, Nolita, and Elm. Food takes center stage in Helsinki's urban cityscape Even food festivals are tapping into this momentum. The new À la Park festival invites restaurants from Helsinki and beyond to participate, featuring highlights such as Finnish chef and Noma veteran Toni Toivanen, who will present an extended tasting menu during the event. Flow Festival continues to be at the forefront in their high quality and versatile food offering. The festival's sustainability efforts include a commitment to becoming fully vegan in the coming years. The city of Helsinki has actively woven food culture into its urban fabric from curated summer terraces to lively pedestrian streets creating fresh, inviting spaces for gastronomy to flourish. The legendary "lippakioski", Helsinki's iconic canopy kiosks, have experienced a remarkable renaissance after decades of obscurity, reviving a cherished part of the city's culinary heritage as a new generation of entrepreneurs give them fresh relevance in the city's evolving culinary scene. "Helsinki feels like a garden that is just coming to its fullest bloom. The culinary scene has been taking huge steps for the past 20 years and the city has finally found its culinary identity. We are a compact city full of freshness, vibrant energy and strong seasons that incorporate itself into everything we do and eat. The quality of restaurants is incredible and constantly getting better," concludes Laura Styyra, restaurateur at restaurant Kuurna and wine bar Klaava. For more information, please contact: Sara Jäntti Senior Manager, PR & Communications, Helsinki Partners +358 40 709 2913 This information was brought to you by Cision The following files are available for download: Lunch at Canvas Canteen - Anders Husa, Kaitlin Orr Interior at restaurant Nolita - Nikola Tomevski Casual dining scene is booming - Svante Gullichsen View original content: SOURCE Helsinki Partners
Bloomberg
5 days ago
- Business
- Bloomberg
Why Adam Cliff Won't Open Another Samsen Restaurant in Hong Kong
The Samsen restaurant group is one of Hong Kong's standout success stories of the past decade, with daily queues outside each of the three outlets a testament to the enduring popularity of the Bangkok-style food and casual hip vibe. Yet Adam Cliff, the chef-owner of the group, has no plans to open a fourth iteration — in Hong Kong, at least. An expansion to Australia is possible, however, as is a different concept locally.
