Company is probably going to have 40 to 45 openings between the two chains next year
According to reports, Darden Restaurants, the company that owns Olive Garden, Longhorn Steakhouse and Chuys, among others, is planning to open 40 new stores over the next year.
Darden CFO Rajesh Vennam recently spoke during the group’s fourth quarter earnings cal. According to reports, Venman said the company is “probably going to have 40 to 45 openings” between Olive Garden and Longhorn next year. The company is on an expansion trajectory as it grows, so Chuy’s (and Darden’s other holdings) may soon look to expand as well.
“Our long-term framework calls for 10-15% Total Shareholder Return over time,” said Darden CFO Raj Vennam in a release.
Venman says shareholders have been rewarded over the company’s history.
“Over our 30-year history as a public company, Darden has achieved an annualized total shareholder return of 10% or greater over any 10 fiscal-year period. This level of performance reflects the strength of our operating model, and the durability of the cash flows it generates,” he said.
Darden owns over 930 Olive Garden locations and 590 Longhorn Steakhouses.
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