Darden Restaurants' Q113 Misses Expectations

News: US multi-brand restaurant operator Darden Restaurants' net profit declined to US$70.2mn (US$0.53 per share) in Q113, compared with US$110.8mn (US$0.85 per share) in the same period of the previous year. Analysts polled by Thomson Reuters previously projected earnings of US$0.70 per share for the quarter. Separately, the company announced that president and CEO Drew Madsen will retire at the end of Q213 and would be succeeded by Gene Lee, who currently serves as the president of Darden's Specialty Restaurant Group.

Darden Restaurants' Q113 Misses Expectations

News: US multi-brand restaurant operator Darden Restaurants' net profit declined to US$70.2mn (US$0.53 per share) in Q113, compared with US$110.8mn (US$0.85 per share) in the same period of the previous year. Analysts polled by Thomson Reuters previously projected earnings of US$0.70 per share for the quarter. Separately, the company announced that president and CEO Drew Madsen will retire at the end of Q213 and would be succeeded by Gene Lee, who currently serves as the president of Darden's Specialty Restaurant Group.

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