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Image via LongHorn Steakhouse Facebook page

published on June 24, 2021 - 5:11 PM
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If the earnings report for Darden Restaurants says anything about what Americans are eating, it’s that they want more steak.

Darden Restaurants, which owns and operates LongHorn Steakhouse, Olive Garden and Yard House, among other restaurants, released its fourth quarter earning statement this week. And in terms of growth, LongHorn Steakhouse outpaced Olive Garden.

Darden’s fiscal year ended May 30, 2021. According to their earnings statement, total sales increased 79.5% to $2.28 billion compared to THE fourth quarter in 2020. This was driven by a blended same-restaurant sales increase of 90.4%. The Orlando, Florida-based corporation added 30 net new restaurants.

Same-restaurant sales at Olive Garden increased 61.9% compared to Q4 2020, but still lagged 1.5% compared to Q4 2019.

For LongHorn Steakhouse, same-restaurant sales increased 107.5% compared to Q4 2020. Sales also increased 13.5% compared to Q4 2019.

“Over the last 15 months, we have made numerous strategic investments in our business, while streamlining our operations and improving productivity,” said Gene Lee, Darden Chariman and CEO. “Given the business transformation work we have done, and the demand we are seeing from the consumer, we are well positioned to thrive in this operating environment.”

Sales for the entire fiscal year decreased 7.8% to $7.2 billion compared to fiscal 2020, which reported over $7.8 billion in sales. Same-restaurant sales decreased the same amount.

Olive Garden still earns nearly double the sales of LongHorn Steakhouses in fiscal 2021 with nearly 900 restaurants worldwide for the Italian-food chain. Darden reported $3.6 billion in sales fiscal 2021 compared to LongHorn Steakhouse which earned $1.8 billion same time period. In fiscal 2020, Olive Garden earned over $4 billion compared to LongHorn Steakhouse’s $1.7 billion.

LongHorn Steakhouse has 481 locations, according to Darden.com.

Darden purchased Olive Garden from General Mills in 1995. Darden purchased LongHorn Steakhouse in 2007.


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