Darden Restaurants reported on Monday an increase of 26% in second quarter earnings per share to 54 cents, versus 43 cents in the prior year.
Ending November 28, 2010, second quarter sales from continuing operations were $1.73 billion, compared to $1.64 billion in the prior year, a 5.2% increase. Same-restaurant sales for the quarter were up 2.0% at Olive Garden and 6.8% at LongHorn Steakhouse and down 1.6% at Red Lobster, representing a 1.4% increase on a combined basis.
In addition to Darden’s same-restaurant sales growth, the 5.2% increase in total sales from continuing operations for the quarter reflects the addition of 63 net new restaurants compared to the prior year and represents continued market share growth for the Company.
“Our results this quarter are a clear demonstration of Darden’s earnings growth capability,” said Clarence Otis, the Company’s Chairman and Chief Executive Officer. “The keys to our performance are strong brands, an effective and efficient support platform and well prepared and committed teams.”
