Red Lobster on a roll
Red Lobster is on a roll. North America’s No. 1 casual seafood chain had U.S. same-restaurant sales growth of 6 percent in the third quarter of fiscal 2012, parent company Darden Restaurants reported on Friday.
Red Lobster’s same-restaurant sales were up 5 percent in December, up 4.5 percent in January and up 8.4 percent in February,
The chain posted third-quarter sales of USD 712 million, up 7.4 percent from the same three-month period a year ago, driven by the 6 percent increase in U.S. same-restaurant sales and revenue from eight net new restaurants.
This is a big turnaround for Red Lobster, which two to three years ago was struggling to maintain same-restaurant sales. The chain now has 702 restaurants in the United States and Canada.
Companywide, Darden, which also operates Olive Garden and LongHorn Steakhouse, reported third-quarter sales from continuing operations of USD 2.16 billion, up 9.3 percent.