ORLANDO, Fla. (AFX) - Darden Restaurants Inc. on Thursday posted stronger September same-stores sales at its Olive Garden and Red Lobster chain.
Same-store sales, or sales at stores open at least one year, are considered a primary performance measure in the retail industry.
Olive Garden posted an increase of 5 percent to 6 percent, as guest counts rose 4 percent to 5 percent and average checks increased 1 percent. Modestly higher prices helped boost average checks. In the year-ago period, Olive Garden saw a same-store sales rise of 4 percent to 5 percent.
At Red Lobster, same-store sales edged up 2 percent to 3 percent in September, led largely by increased check averages and slightly better traffic. Last year, Red Lobster saw same-store sales grow 2 percent to 3 percent in September.
The company owns about 1,430 Red Lobster, Olive Garden, Bahama Breeze, Smokey Bones and Seasons 52 restaurants.
Darden shares closed up 13 cents to $44.09 on the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
© 2006 AFX News
