Bahama Breeze Exit Highlights Darden's Brand Pruning Strategy

Dow Jones
09/24

Darden's first-quarter results exclude Bahama Breeze from same-restaurant sales calculations as the company moves toward closing or converting all locations by the fourth quarter of fiscal 2027. The Caribbean-themed chain's footprint shrank to 10 locations from 28 a year earlier. Darden's capital allocation continues to favor returns to shareholders; the company repurchased $222.3 million of stock during the quarter and has $1.3 billion remaining under its $1.5 billion repurchase authorization. The board also declared a quarterly dividend of $1.62 per share.

 

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