Red Lobster 2000 Annual Report Download - page 17

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14 DARDEN RESTAURANTS 2000 ANNUAL REPORT
THE INDUSTRY
Casual dining is the
fastest growing segment of
the restaurant industry.
During the 1990s, casual dining sales growth was robust,
averaging 6.9% annually. In 1999, industry sales were more than
$44 billion, and they are expected to grow 6-8% a year over
the next 10 years. At this rate, casual dining sales are projected to
increase faster than sales in every other segment of the restaurant
industry, continuing the trend from the 1990s.
DARDEN
Darden is the casual
dining leader, with
unsurpassed market share
and brand awareness.
Darden is the world’s largest casual dining operator with more
than 8% of the market – that’s nearly four percentage points
greater than the next closest competitor. The Company’s 1,139
restaurants serve more than five million guests every week and
deliver almost 300 million dining experiences every year. With
Red Lobster and Olive Garden, Darden is the only company that
has two firmly established top-tier casual dining success stories.
Darden dominates the food categories people crave most – seafood
and Italian – and has unmatched brand awareness, built on
longevity and marketing prowess. The Company also has an
unparalleled portfolio of top restaurant locations.
Compound Annual Sales Growth
Casual Dining vs. Other Restaurant Segments
1990 – 1999
Source: CREST
Darden Market Share
Total Casual Dining Sales = $44 Billion+
Darden Restaurants 8.4%
#2 4.6%
#3 3.8%
#4 3.7%
Midscale Fine
Dining Quick
Service Casual
Dining
2.5% 2.7%
5.5%
6.9%
RED LOBSTER OLIVE GARDENRED LOBSTER OLIVE GARDEN
1.