Red Lobster 2012 Annual Report Download - page 15

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LongHorn Steakhouse ended the fiscal
year with 386 restaurants and has the
ultimate potential for 600 to 800 total
locations. We expect to open more than
200 new restaurants by fiscal 2017, which
will generate annual sales of $650 million
and annual operating profit of $90 million.
With its current locations concentrated in
the eastern third of the country, LongHorn
Steakhouse’s opportunity to expand
nationwide makes it a valuable growth
engine in our portfolio.
LONGHORN
STEAKHOUSE
The Specialty Restaurant Group ended
the fiscal year with 110 restaurants and
has the ultimate potential for over 350
total locations. We expect to open more
than 100 new-restaurant units by fiscal
2017, which will generate annual sales
of $650 million and annual operating
profit of $80 million. With its strong
cash flows, the Specialty Restaurant
Group is a growth engine that is able
to fund its own growth.
THE SPECIALTY
RESTAURANT GROUP
500We intend to add 500 more restaurants over
the next five years which we would translate
to 5 percent annual sales growth.
We have meaningful, value-creating unit growth
opportunities across all of our brands, looking only
at traditional restaurant sites and formats. The net
addition of 500 more restaurants by fiscal 2017 is
significant growth indeed, considering how few full-
service dining brands have more than 500 restaurants
in total. As we engage in this level of traditional
unit expansion, however, we are also exploring the
development of non-traditional sites and formats
that may enable us to deliver even more significant
new-restaurant growth.
Darden Restaurants, Inc. 2012 Annual Report 11