) reported first-quarter fiscal 2025 results that missed analyst expectations but saw its stock jump more than 11% as the company maintained its full-year outlook and noted improving sales trends.
Darden's total sales growth was driven by 42 net new restaurant openings, which offset a 1.1% decline in blended same-restaurant sales. LongHorn Steakhouse was a bright spot with 3.7% same-restaurant sales growth, while Olive Garden saw a 2.9% drop. The company reiterated its fiscal 2025 outlook, projecting earnings per share of $9.40 to $9.60. This guidance excludes impacts from the pending Chuy's acquisition.
Darden repurchased $172 million of stock during the quarter and declared a quarterly dividend of $1.40 per share.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.