Darden Restaurants January volatility flat as shares pullback to ten-month low Darden Restaurants January and April call option implied volatility of 26 is near its 26-week average of 25 according to Track Data, suggesting non-directional price movement.
Darden says separation of real estate assets to complete by end of 2015 Expects to retire $1B of debt with proceeds from sale leasebacks. Expects to separate 488 of its restaurant real estate properties across two executions. Comments taken from Q1 earnings conference call.
Darden raises FY16 adjusted EPS to $3.15-$3.30 from $3.05-$3.20, consensus $3.13 The company's expectation for combined U.S. same-restaurant sales growth, on a 52-week basis, for fiscal 2016 remains unchanged at 2.0% to 2.5%. This does not include the impact of any fiscal 2016 real estate transactions and related capital structure activities.