Darden reported stronger-than-expected comparable sales growth, led by gains at Olive Garden and LongHorn Steakhouse.
Darden Restaurants (DRI) posted a 4.6% increase in fourth-quarter comparable sales, surpassing market expectations. The gains were driven by a 4.0% rise at Olive Garden and a 7.2% jump at LongHorn Steakhouse, with all key chains reporting positive growth.
The quarter, ending May 31, marked a rebound from prior periods, reflecting improved consumer demand. The company also announced plans to expand its share buyback program, signaling confidence in its financial position.
Shares showed modest movement in after-hours trading as investors digested the results and buyback announcement.