Red Lobster 2010 Annual Report Download - page 16

Download and view the complete annual report

Please find page 16 of the 2010 Red Lobster annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

14 DARDEN RESTAURANTS, INC. | 2010 ANNUAL REPORT
Still
Performing
Darden has a demonstrated record of superior financial performance over the
course of our 15-year history as a publicly traded company, and fiscal 2010 was
no exception. While absolute sales and earnings results were below our long-term
targets, we still delivered competitively strong earnings growth in what remained
a challenging economic and consumer environment.
Total sales increased at Olive
Garden (+1.0%) and the Specialty
Restaurant Group (+2.0%) despite
an extra fiscal week in the prior
year, and declined modestly at
LongHorn Steakhouse (-0.7%)
and more meaningfully at Red
Lobster (-5.3%) in fiscal 2010.
Sales by Brand
Red Lobster
$2,486
Specialty
$424
(dollars in millions)
Olive Garden
$3,321
LongHorn
$882
Total unit growth was strong
across the portfolio, with
increases at Olive Garden
(+4.6%), Red Lobster (+0.6%),
LongHorn Steakhouse (+3.1%)
and the Specialty Restaurant
Group (+10.1%) in fiscal 2010.
Units by Brand
Red Lobster
694
Specialty
76
Olive Garden
723
LongHorn
331
2010