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Stock impact report

Darden Restaurants sales disappoint as Olive Garden, LongHorn Steakhouse miss expectations [MSNBC.com]

FactSet Research Systems Inc. (FDS) 
Last factset research systems inc. earnings: 3/26 07:01 am Check Earnings Report
US:NYSE Investor Relations: investor.factset.com
Company Research Source: MSNBC.com
Darden RestaurantsShares of the company fell nearly 1% in premarket trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier.Excluding costs related to its acquisition of Chuy's, Darden earned $2.80 per share.Net sales rose 6.2% to $3.16 billion, fueled largely by the addition of Chuy's restaurants to its portfolio.Darden's same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates.Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden's portfolio, reported underwhelming same-store sales growth. Olive Garden's same-store sales rose 0.6%. Analysts were anticipating same-store sales growth of 1.5%. And LongHorn's same-store sales increased 2.6%, missing analysts' expectations of 5% grow Show less Read more
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