Boston, MA 09/12/2014 (wallstreetpr) – Darden Restaurants, Inc. (NYSE:DRI) is a well-known restaurant and runs its counters in various parts of the country. Recently it commented for the first time on the operational plan proposed by Starboard Value L.P.
Management’s call:
According to Gene Lee, Chief Executive Officer and President of Darden Restaurants, Inc. (NYSE:DRI), “We always look to accept new ideas that help us improve dining experience of our guests and also focus on long-term value creating for our shareholders.” He further stated that DRI would look forward towards the operational plan proposed by Starboard management. The strategists of DRI are looking into this matter and trying to figure out if any probability of execution is there or not. The company has already implemented various new plans and experiencing positive operational and financial results.
DRI recently accepted an improvement plan from The Olive Garden. As per the latest information given by the management of DRI, The Olive Garden Brand Renaissance has been under the scrutiny of experts. So far DRI has witnessed excellent results in terms of excellent traffic and guest satisfaction. These results have not only enhanced the financial and operational efficiency of the company, but also strengthened the confidence that Darden Restaurants, Inc. (NYSE:DRI) has on Olive Garden. While interviewing, Mr. Lee said that DRI would look to implement such plans that would create value for stakeholders including DRI employees and shareholders. Some of the highlights of Brand Renaissance of Olive Garden are as follows-
- Guest satisfactions, the overall experience, quality of food, taste of various dishes are regularly improving across the system. DRI expects that these things will bring in more traffic than past months.
- In the fiscal 1Q2015, Darden Restaurants, Inc. (NYSE:DRI) witnessed 13% increase in take-out business of Olive Garden compared to the first quarter of the previous quarter. Its new online ordering system is underway, which will increase the traffic for sure.
- Initial sales results of its new model implemented by the Olive Garden brand are impressive, and the management of DRI thinks that things will improve in the near future.
