Latest news with #BahamaBreeze
Yahoo
a day ago
- Business
- Yahoo
Darden Raises Sales Outlook, Unveils $1B Buyback After Strong Olive Garden Momentum
Darden Restaurants, Inc. (NYSE:DRI) ranks among the best consumer discretionary stocks to buy now. Following solid quarterly results on June 20, Darden Restaurants, Inc. (NYSE:DRI) projects annual same-store sales above expectations, relying on demand from food delivery and marketing initiatives at its casual dining brands like Olive Garden. Image: Courtesy of Darden Darden (NYSE:DRI) anticipates a 2% to 3.5% annual growth in same-store sales, with the midpoint of this range exceeding analysts' projections of 2.64%. Additionally, initiatives like Olive Garden's 'buy one, take one' deals and home deliveries made possible by Uber Direct have further assisted the restaurant chain operator. In addition, the company disclosed plans to explore strategic alternatives for its Bahama Breeze brand while also announcing a new $1 billion share repurchase program. Darden Restaurants, Inc. (NYSE:DRI) is an American multi-brand restaurant operator headquartered in Orlando, Florida. Some of the most well-known and successful full-service dining brands can be found in Darden's restaurant family, including Yard House, LongHorn Steakhouse, and Olive Garden. While we acknowledge the potential of DRI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
3 days ago
- Business
- Fast Company
Bahama Breeze closing: See the list of shuttered locations as Olive Garden parent Darden Restaurants mulls sale
Caribbean-inspired restaurant chain Bahama Breeze has an uncertain future. Its parent company, Darden Restaurants, closed 15 of its locations in May. Now, the organization has announced it won't be 'putting a lot of investment' into the remaining 28 Bahama Breeze locations and aims to sell the brand. Here's what to know: What has Darden said about Bahama Breeze? The news came during Darden's fiscal fourth-quarter earnings call on Friday, June 20. 'We have made the difficult decision that these remaining locations and the Bahama Breeze brand are not a strategic priority for us,' Ricardo Cadenas, CEO and president of Darden Restaurants, said on the call. 'We also believe that this brand and these restaurants have the potential to benefit from a new owner. Consequently, we will be considering strategic alternatives for Bahama Breeze, including a potential sale of the brand or converting restaurants to other Darden brands.' How is Darden doing as a company? Darden Restaurants also owns Olive Garden and LongHorn Steakhouse, both of which enjoyed growth in the most recent quarter. The Orlando-based company said same-store sales for Olive Garden and LongHorn rose 6.9% and 6.7% respectively. The company reported total sales growth of 10.6% to $3.3 billion for the quarter, driven in part by its acquisition of Chuy's Tex Mex and the opening of new restaurants. Shares of Darden Restaurants Inc (NYSE:DRI) are up more than 18% year to date. The stock price was essentially flat in premarket trading on Wednesday. According to Darden, Bahama Breeze's current lead will move to another of one the organization's entities, while the president of its specialty restaurant group will lead Bahama Breeze during the current changes.
4 days ago
- Business
Bahama Breeze may be sold or rebranded following closure of 15 locations
Bahama Breeze is facing an uncertain future after closing 15 of its locations last month. During a June 20 earnings call reviewing Darden Restaurants' fourth quarter and full-year financial results, President and CEO Ricardo Cardenas announced the company is exploring "strategic alternatives" for the Caribbean-inspired chain, including a potential sale or converting remaining restaurants to other Darden brands. "We have made the difficult decision that these remaining locations and the Bahama Breeze brand are not a strategic priority for us," he explained. "We also believe that this brand and these restaurants have the potential to benefit from a new owner. Consequently, we will be considering strategic alternatives for Bahama Breeze, including a potential sale of the brand or converting restaurants to other Darden brands." He continued, "Excluding any one-time potential impacts which are unknown as of today, we do not expect these strategic alternatives, including a potential sale, to have a material impact on our financial results." A representative for Bahama Breeze confirmed the update to ABC News on Tuesday. Cardenas also explained that Bahama Breeze no longer fits Darden's goals for its brands and could grow more with a new owner, since the company doesn't plan to invest in it anymore. "We think that they have a lot of growth potential with another owner," he said. "We were not going to be putting a lot of investment into Bahama Breeze. And so to give those team members and those managers growth opportunities, it's better for them to be under a different ownership." Known for its vibrant tropical drinks topped with sugar cane and island-inspired dishes such as coconut shrimp, jerk chicken, guava BBQ sauce and key lime pie, Bahama Breeze has been a staple of Caribbean-style dining since its debut in 1996 under Darden Restaurants, according to its website. The brand's uncertain future follows the closure of the following 15 locations on Thursday, May 15: Daytona Beach, FL Gainesville, FL Naples, FL Oakland Park, FL Sunrise, FL Schaumburg, IL Tyngsboro, MA Troy, MI Las Vegas, NV Paramus, NJ Toms River, NJ Wayne, NJ Woodbridge, NJ Lake Grove, NY Memphis, TN
Time of India
4 days ago
- Business
- Time of India
Caribbean flavors on the chopping block: Darden looks to say goodbye to Bahama Breeze
Bahama Breeze , the tropical-style restaurant chain owned by Darden, is on the chopping block. Darden Restaurants , the parent company of Olive Garden and LongHorn Steakhouse , is considering its options for Bahama Breeze. The company announced that it is considering " strategic alternatives ." CEO Rick Cardenas stated that the brand no longer fits the company's focus. After closing 15 locations, the Caribbean-themed chain now has only 28 remaining, and the future does not look promising, as per a report. Why is Darden selling the Caribbean chain? The owner of Longhorn Steakhouse and Olive Garden wants to sell the chain of Caribbean restaurants. Analysts and investors were informed on Friday by CEO Rick Cardenas that the company "will be considering strategic alternatives" for Bahamas Breeze, including selling the chain or "converting restaurants to other Darden brands,' as per a report by Fox Business. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dieser Nagelpilz-Mini-Laser sorgt für Aufregung (Experten sind begeistert) Apotheken Aktuell Undo ALSO READ : What's the best AC setting to save those precious dollars during this summer's extreme heat wave? The business just carried out strategic planning for all of its chains. After completing that process and conducting an additional review, Cardenas explained that Darden reached the "difficult decision" to determine that the brand and the remaining 28 Bahama Breeze restaurants' are not a strategic priority for us." Will Bahama Breeze get new owners? The CEO informed analysts and investors, "We also believe that this brand and these restaurants have the potential to benefit from a new owner." Live Events What's next for the Bahama Breeze restaurants? In the 1990s, Darden Restaurants founded Bahama Breeze. The restaurant chain is well-known for its tropical drinks and cuisine with Caribbean influences. The CEO of the parent company of the chain spoke about the decision to consider "strategic alternatives" for Bahama Breeze and added that Darden was "not going to be putting a lot of investment into Bahama Breeze." Darden stated that he had concluded that Bahama Breeze "doesn't meet the criteria anymore" for its family of restaurant brands. At the same time that the Florida-based restaurant chain's fourth-quarter financial figures were made public, Darden said that "strategic alternatives" for Bahama Breeze were being evaluated. FAQs Why is Darden getting rid of Bahama Breeze? The brand no longer fits its growth strategy, and Darden is considering selling or converting it. How many Bahama Breeze locations remain? As of May, after 15 closures, the chain had only 28 restaurants.
Yahoo
4 days ago
- Business
- Yahoo
This Popular Restaurant Is Planning to Make a Huge Change—Here's What to Know
This Popular Restaurant Is Planning to Make a Huge Change—Here's What to Know originally appeared on Parade. It's long been said that about 90 percent of independently owned and operated restaurants fail within their first year of opening—but what if I told you that wasn't actually true? Sure, the restaurant business can be relatively demanding, and maintaining a thriving French-Thai fusion gastropub isn't easy by any means, but the truth is, most food businesses don't actually go under until almost year five. To put that into perspective, the actual number is between 17 and 30 percent. Not stellar, but certainly not dire either. 😋😋🍳🍔 Of course, economic uncertainty, global catastrophes, and widespread civic unrest tend to have a significant impact on even the strongest of businesses—and if you couldn't already tell, we're living in pretty unprecedented times. Outside of everything happening globally, the food industry has been having its own reckoning of sorts, with numerous reports of legacy chains and fan-favorite institutions shuttering their doors for from Red Lobster to Hooters has filed for bankruptcy, and pivot seems to be the of the moment corporate jargon. Suffice it to say, the service industry is in dire straits—and it's probably only going to get worse. The latest brand to feel the heat of the rapidly changing economic landscape is none other than the Caribbean-inspired seafood chain, Bahama Breeze, which, after closing 15 locations earlier this year, just announced that they have plans to sell or convert the remaining 28 locations. During a recent earnings call, Darden President and CEO Rick Cardenas said, 'We have made the difficult decision that these remaining locations and the Bahama Breeze brand are not a strategic priority for us.' The Olive Garden parent company conducted a five-year plan for all Darden brands and concluded that another owner would better serve the Bahama Breeze brand. While the company is keeping its options open regarding the future of the breezy, tropical-themed restaurant, it underscored that the sale or conversion of the brand would have little impact on the company's financial results. Only time will tell what the future looks like for Darden and its other brands, but one thing we can guarantee is that we won't have a dull news cycle anytime Popular Restaurant Is Planning to Make a Huge Change—Here's What to Know first appeared on Parade on Jun 23, 2025 This story was originally reported by Parade on Jun 23, 2025, where it first appeared.
