Same-Store Sales Growth for Darden’s Specialty Restaurant Group
By Adam JonesMar. 20 2015, Updated 3:05 p.m. ET
Overview
In this article, we will discuss Darden’s Specialty Restaurant Group’s same-store sales growth among the restaurants that reported those figures. The chart below reflects the four-year figures for The Capital Grille, Seasons 52, and Bahama Breeze. The Yard House and Eddie V’s Prime Seafood did not provide this four-year information.
The Capital Grille
The Capital Grille has the same story as LongHorn Steakhouse, reporting same-store sales growth of 3.4% in 2014 compared to 3.3% in 2013. However, same-store sales growth declined from 5.3% in 2012 and 6.2% in 2011. The average check at The Capital Grille in 2014 was between $69–$75.75. Of this, 29.9% was the share of alcohol sales.
Seasons 52
Seasons 52 had a negative same-store sales growth for the first time in 2014. It reported -2.2% same-store sales growth compared to 1.2% in 2013. Seasons 52 had an average check between $39.50–$44 in 2014, of which 27% was the share of alcohol sales.
Bahama Breeze
Bahama Breeze reported 4.1% same-store sales growth for 2014, as shown in the above chart. The average check per person was in the range of $23.75–$25, with about 22.4% accounting for alcohol sales.
The Yard House, Eddie V’s
Yard House had an average check in the range of $30–$30.5, with about 39% of sales from alcohol. Eddie V’s Prime Seafood had an average check in the range of $88.50–$91.50, with 33.5% of sales from alcohol.
According to Statista, the average check for a casual dining restaurant in the US was $13.75. For fine dining, it was $28.55 and for quick-service restaurants, it was $5.32 in 2013. Casual dining restaurants include brands such as Chili’s, under the umbrella of Brinker International (EAT), as well as Texas Roadhouse (TXRH) and Buffalo Wild Wings (BWLD). Some of these restaurants are also included in the Consumer Discretionary Select Sector SPDR ETF (XLY), which holds about 37% of retail stocks.
Unit growth is another way a Darden Restaurants (DRI) brand can grow revenue if its same-store sales growth flatlines. We’ll discuss this in the next part of this series.
