The publicly-traded local firm reported first-quarter profit of$56.9 million on sales of $1.02 billion. That performance is upfrom $47.3 million in net earnings on $929.4 million in sales forfirst quarter 1999.

The company's per-diluted share earnings were a record 46 cents,up from 35 cents in the same period last year. Darden operates theRed Lobster, Olive Garden, Bahama Breeze and Smokey Bones BBQchains.

Olive Garden posted a same-restaurant sales growth of 8.7%, its24th consecutive quarter of growth. Red Lobster had a 6.2%same-restaurant growth for the 11th straight quarter. Bahama Breezeand Smokey Bones individual sales are still being compiled.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.