Darden Restaurants Announces Acquisition Of Eddie V’s Assets

Darden Restaurants, Inc. declared that during the second quarter it has completed acquisition of some assets of Eddie V’s Restaurants, Inc.

The Organization announced that, although high closing costs linked with the acquisition negatively impacted diluted net earnings per share for its financial 2nd quarter by roughly one cent, it hopes the acquisition will have no effect on diluted net earnings per share for the whole financial year.

Darden also announced the opening of about 90 new restaurants and updated earnings and sales forecasts for fiscal 2012. The organization hopes growth of total sales between 6 and 7 percent and earnings for each share between 4 and percent.
Darden Restaurants, Inc., which is the world’s biggest full-service restaurant company, operates over 1,900 restaurants which generate over $7.5 billion in annual sales.

Headquartered in Orlando, and hiring 180,000 employees, Darden is familiar for a culture which takes care of and responds to people. The company‚Äôs restaurant brands Eddie V’s, Seasons 52, Bahama Breeze, The Capital Grille, LongHorn Steakhouse, Olive Garden and Red Lobster mirror the rich diversity.

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Leo Pierson

About Leo Pierson

Former partner in a real estate management firm, Leo, has been active in the market for the last 8 years. Ex-blogger on penny stocks, now focused on long term growth stocks, Leo provides valuable market snapshots each day as part of our editorial team.

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