Highlights
Orlando-based Darden Restaurants is considered the world's largest casual dining restaurant company in terms of market share and annual sales. Restaurant entrepreneur Bill Darden, who opened the first Red Lobster restaurant in Lakeland in 1968, founded the company. Darden is considered one of the pioneers in the development of full-service chain restaurants in the United States.
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it beca...
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it beca...
Orlando-based Darden Restaurants is considered the world's largest casual dining restaurant company in terms of market share and annual sales. Restaurant entrepreneur Bill Darden, who opened the first Red Lobster restaurant in Lakeland in 1968, founded the company. Darden is considered one of the pioneers in the development of full-service chain restaurants in the United States.
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it became a division of General Mills.
Darden is most closely associated with its two largest restaurant brands: Red Lobster and Olive Garden. Both of those chains now have more than 600 locations. The company's attempt to diversify its restaurant holdings has had mixed results. In 1995, Darden shut down an internally developed Chinese restaurant chain called China Coast. Since its spin-off, Darden has also created a barbecue and sports bar-themed restaurant group called Smokey Bones, a Caribbean-themed chain called Bahama Breeze, and a higher-end group of restaurants called Seasons 52. The company announced its intention to sell its Smokey Bones restaurants in May 2007, admitting that the brand did not have the potential to become a national chain. In August, Darden agreed to purchase Rare Hospitality International, which operates the LongHorn Steakhouse and Capital Grille restaurant chains, for an estimated value of $1.4 billion.
Clarence Otis, who took over the company from long-time chief Joe Lee in 2005, serves as chairman and chief executive officer. Darden posted $5.6 billion in annual sales in fiscal year 2007. Its shares are traded on the New York Stock Exchange under the ticker symbol DRI.
Since its founding, it has grown to operate more than 1,700 restaurants in North America with about 170,000 employees. Darden was a subsidiary of General Mills from 1970 until 1995, when it was spun off as a separately held publicly traded company. The company's headquarters was moved to Orlando when it became a division of General Mills.
Darden is most closely associated with its two largest restaurant brands: Red Lobster and Olive Garden. Both of those chains now have more than 600 locations. The company's attempt to diversify its restaurant holdings has had mixed results. In 1995, Darden shut down an internally developed Chinese restaurant chain called China Coast. Since its spin-off, Darden has also created a barbecue and sports bar-themed restaurant group called Smokey Bones, a Caribbean-themed chain called Bahama Breeze, and a higher-end group of restaurants called Seasons 52. The company announced its intention to sell its Smokey Bones restaurants in May 2007, admitting that the brand did not have the potential to become a national chain. In August, Darden agreed to purchase Rare Hospitality International, which operates the LongHorn Steakhouse and Capital Grille restaurant chains, for an estimated value of $1.4 billion.
Clarence Otis, who took over the company from long-time chief Joe Lee in 2005, serves as chairman and chief executive officer. Darden posted $5.6 billion in annual sales in fiscal year 2007. Its shares are traded on the New York Stock Exchange under the ticker symbol DRI.
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Part-timers to lose pay amid health act's new math
Los Angeles TimesMany part-timers are facing a double whammy from President Obama's Affordable Care Act. The law requires large employers offering health insurance to include part-time employees working 30 hours a week or more. But rather than provide healthcare to more...Tags: Employment, Red Lobster, Barack Obama, Sales, Career and Workplace
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Darden missteps, 'Obamacare' flap dent Olive Garden owner's profit
Darden Restaurants Inc.’s second quarter was far from appetizing, as the owner of Olive Garden and Red Lobster watched its net income plunge 37%. The Orlando, Fla., restaurant company saw the sour numbers coming. Earlier in December, citing a...
Tags: Barack Obama, Red Lobster, Lifestyle and Leisure, Health Care Reform (2009), Orlando Restaurants
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Darden won't slash full-timers' hours to cut 'Obamacare' costs [Google+ Hangout]
Darden Restaurants Inc., the parent of eateries such as Olive Garden and Red Lobster, said it will not bump any of its full-time employees down to part-time status to save on healthcare costs once President Obama’s reforms go into effect. Come...
Tags: Barack Obama, Red Lobster, Lifestyle and Leisure, Career and Workplace, Health Care Reform (2009)
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Olive Garden owner Darden to buy Yard House for $585 million
Darden Restaurants Inc., the owner of Olive Garden and Red Lobster, will buy Irvine-based restaurant chain Yard House USA Inc. for $585 million in cash. The deal with Yard House owner TSG Consumer Partners will place the chain -- known for its vast...Tags: Red Lobster, Olive Garden, Lifestyle and Leisure, Restaurant and Catering Industry
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Darden's Olive Garden, Red Lobster sales disappoint
Darden Restaurants Inc.’s efforts to spruce up Olive Garden’s lagging sales, including national promotions and cost cuts, were “less effective than anticipated,” the company said while announcing its fiscal fourth-quarter...
Tags: Red Lobster, Lifestyle and Leisure, Economy, Business and Finance, Seasons Restaurant, Lent
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Petition calls out restaurant execs on 'Obamacare' [Google+ Hangout]
The same day that Olive Garden parent Darden Restaurants Inc. said it will not bump down existing full-time workers to part-time status to skirt healthcare costs, a petition calling on the company’s chief executive to clarify his position is gaining...Tags: Red Lobster, Health Care Reform (2009), Career and Workplace, Economy, Business and Finance, Food Industry
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U.S. restaurants are in their best shape since the recession: index
Restaurateurs are in a chipper mood these days, with the majority reporting customer and revenue gains; they also plan expansion, remodeling or equipment purchases. The Restaurant Performance Index from the National Restaurant Assn. hit the same post-...
Tags: Olive Garden, Lifestyle and Leisure, Restaurant and Catering Industry, McDonald's
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Olive Garden comeback: Darden Restaurants' 3rd-quarter profit up
Maybe it's Marilyn Hagerty working her magic: Olive Garden is reversing out of a long slump with more visitors and better sales. A few weeks after the elderly North Dakota reviewer’s piece on a new Olive Garden restaurant in Grand Forks went...
Tags: Red Lobster, Olive Garden, Clarence Otis, LongHorn Steakhouse, Restaurant and Catering Industry
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Olive Garden parent Darden's earnings slip 28%
Money & Companylow sales at Olive Garden push Darden's earnings down 28%... -
Michelle Obama, Olive Garden, Red Lobster vow healthier kids' meals
Money & CompanyMichelle Obama's Let's Move campaign enlists Red Lobster and Olive Garden... -
Darden CEO lobbies against California Medicaid fines
A California bill that would fine large companies whose employees rely on Medicaid has Darden Restaurants so worried that the company's chief executive officer recently visited state lawmakers to lobby against it. The Orlando-based owner of Olive...
Tags: Employment, Red Lobster, Career and Workplace, Justice System, Economy, Business and Finance
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Scott blocks paid sick-time vote in Orange, statewide
Florida Gov. Rick Scott signed a bill Friday that would block local governments from enacting mandatory paid-sick-time measures, such as the one pending in Orange County. The Republican governor sided with Walt Disney World, Darden Restaurants, the...Tags: Employment, Business, Career and Workplace, Justice System, Parties and Movements
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