By the end of the first quarter of fiscal 2019, Darden Restaurants (DRI) operated 1,753 restaurants:
- Olive Garden: 858
- LongHorn Steakhouse: 506
- Cheddar’s Scratch Kitchen: 157
- Yard House: 73
- The Capital Grille: 58
- Bahama Breeze: 40
- Seasons 52: 42
- Eddie V’s: 19
Darden Restaurants has added 52 restaurants in the last four quarters, which represents 3.0% growth from 1,701 restaurants in the first quarter of fiscal 2018.
Unit growth across segments
In the last four quarters, Oliver Garden has increased its unit count by 11 units, while LongHorn Steakhouse has added net 15 units. In the Fine Dining segment, The Capital Grille has added two units, and the unit count of Eddie V’s remained unchanged at 19.
Moving to DRI’s Other Brands segment, Cheddar’s Scratch Kitchen increased its unit count by 16 units, while Yard House added net five units, Bahama Breeze added net two units, and Seasons 52 added net one unit.
Peer comparisons and outlook
During the same period, Texas Roadhouse (TXRH), Bloomin’ Brands (BLMN), and Brinker International (EAT) have increased their unit counts by 34 restaurants, two restaurants, and 12 restaurants, respectively. In fiscal 2019, Darden’s management expects to open 45–50 restaurants.
Next, we’ll look at Darden’s EBIT (earnings before interest and tax) margin in the first quarter of fiscal 2019.