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Bahama Islands News, Articles and Information
Earnings Calls: Darden Restaurants Fourth Quarter Earnings Call
This summary is based on the fourth quarter fiscal 2006 earnings call conducted by Darden Restaurants, Inc. (DRI: chart) on June 21, 2006. Key Investors Issues - Earnings per share of 60 cents were up 15% from fourth quarter 2005. - Total sales rose 8.5% to $1.51 billion from fourth quarter 2005. - Combined same restaurant sales growth for Red Lobster and Olive Garden is expected between 2% to 4% in fiscal 2007. Fourth Quarter Financial Highlights Fourth quarter net earnings were $92.3 million and net EPS was 60 cents. This represents a 15% increase in net earnings per share. Dardens total sales rose 8.5% in the fourth quarter to $1.51 billion, driven by same restaurant sales growth at Red Lobster and Olive Garden, and operation of 46 more restaurants than in the fourth quarter of the prior year.“…Snow White’s Story...”
Snow White's Story begins with these words: Long, long ago, in the winter-time, when the snowflakes were falling like little white feathers from the sky, a beautiful Queen sat beside her window, which was framed in black ebony, and stitched. As she worked, she looked sometimes at the falling snow, and so it happened that she pricked her finger with her needle, so that three drops of blood fell upon the snow. How pretty the red blood looked upon the dazzling white! The Queen said to herself as she saw it, "Ah me! If only I had a dear little child as white as the snow, as rosy as the blood, and with hair as black as the ebony window-frame." Soon afterwards a little daughter came to her, who was white as snow, rosy as the blood, and whose hair was as black as ebony--so she was called "Little Snow-White." But alas! When the little one came, the good Queen dies.FLORIDA BUSINESS BRIEFS: Winn-Dixie plans to leave bankruptcy in fall
Winn-Dixie Stores (WNDXQ.PK) will file its reorganization plan later this month and emerge from bankruptcy by late October after the supermarket chain agreed with creditors on how they will be paid, a company attorney said Thursday.Winn-Dixie attorney Stephen Busey told U.S. District Bankruptcy Judge Jerry Funk that a committee of creditors had reached a compromise on payments and the Jacksonville-based company agreed.
The agreement has been a major stumbling block for the chain to emerge from bankruptcy. Winn-Dixie filed for reorganization in February 2005.
The agreement will be placed in its reorganization plan, allowing the company to file it by a June 29 deadline, Busey said.
When it emerges from bankruptcy, Winn-Dixie will be a much smaller company.