Darden Restaurants Reports Fiscal 2020 Fourth Quarter and Full Year Results

Darden Restaurants Reports Fiscal 2020 Fourth Quarter and Full Year Results; And Provides Fiscal 2021 First Quarter Outlook

ORLANDO, FL (STL.News) Darden Restaurants, Inc., (NYSE: DRI) today reported its financial results for the fourth quarter and fiscal year ended May 31, 2020, which included a 53rd week of operations compared to 52 weeks last year.

Statement from Gene Lee, CEO.

The strategy we put in place five years ago helped us successfully navigate one of the most challenging periods in our Company’s history.  When our dining rooms closed, our operators did an amazing job of re-imagining the guest experience by staying true to our back-to-basics operating philosophy.

We benefited greatly from our competitive advantages that form the foundation of our strategy, especially our scale and our culture.  Our scale allowed us to quickly react to constant change, while our team members displayed tremendous innovation, flexibility and passion as they continued to serve our guests.  I’m incredibly proud of our teams and that our culture grew stronger during this time.

The full-service restaurant industry plays a vital role in our communities.  As our industry continues to rebuild, there is significant opportunity to increase market share.  Those executing at the highest level are going to win, and Darden is well positioned to take advantage of the opportunity.

NOTE: this is NOT the complete release.