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Darden Restaurants Report Strong Q2 Results with 6.0% Sales Growth
Darden Restaurants reported a 6.0% increase in total sales for Q2 which ended November 24, reaching $2.9 billion, with same-restaurant sales up 2.4%.
Olive Garden generated $1.292 billion in sales, LongHorn Steakhouse brought in $710.1 million, and the company’s Fine Dining segment earned $306 million.
In addition, Darden’s Board of Directors declared a quarterly cash dividend of $1.40 per share on the company’s outstanding common stock.
"We had a strong quarter and I am pleased that our four largest brands...
Darden Restaurants to Acquire Chuy's Holdings, Inc. in Approximately $605 Million Transaction
Darden Restaurants, Inc. and Chuy's Holdings, Inc., jointly announced today that they have entered into a definitive agreement pursuant to which Darden will acquire all of the outstanding shares of Chuy's for $37.50 per share, in an all-cash transaction with an enterprise value of approximately $605 million. Chuy's will complement Darden's portfolio of iconic brands, which currently includes Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V's and Bahama Breeze...
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