Darden Restaurants, Inc. (DRI): Business Model Canvas

Darden Restaurants, Inc. (DRI) gilt als kulinarisches Kraftpaket und navigiert meisterhaft durch die komplexe Landschaft des Casual Dining durch ein strategisch gestaltetes Geschäftsmodell, das verschiedene Restaurantmarken, innovative Technologie und kundenorientierte Erlebnisse nahtlos miteinander verbindet. Vom beliebten Olive Garden bis zum brutzelnden LongHorn Steakhouse hat dieser Restaurantriese die Kunst perfektioniert, konsistente, erschwingliche Speiseoptionen anzubieten, die Millionen von Amerikanern aus verschiedenen demografischen Segmenten gerecht werden, und hat damit die Art und Weise, wie wir über familienfreundliche Restauranterlebnisse in der dynamischen Gastronomiebranche von heute denken, verändert.

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Wichtige Partnerschaften

Partnerschaften im Restaurant-Supply-Chain-Management

Darden Restaurants unterhält strategische Partnerschaften mit großen Lebensmittelhändlern:

Partner	Jährlicher Vertragswert	Liefervolumen
Sysco Corporation	425 Millionen Dollar	65 % des gesamten Zutatenangebots im Restaurant
US-Lebensmittel	275 Millionen Dollar	35 % des gesamten Zutatenangebots im Restaurant

Technologie- und digitale Plattformpartnerschaften

Darden arbeitet mit Technologieanbietern für digitale Infrastruktur zusammen:

• OpenTable für Online-Reservierungen
• Oracle Cloud für Enterprise Resource Planning
• Microsoft Azure für Cloud-Computing-Dienste

Partnerschaften zur Lebensmittelbeschaffung

Partnerschaftstyp	Anzahl lokaler Lieferanten	Prozentsatz lokaler Zutaten
Lokale Bauern	237 regionale Lieferanten	42 % der gesamten Zutatenbeschaffung

Lieferservice-Partnerschaften

Lieferpartner	Jährliches Bestellvolumen	Umsatzbeteiligung
DoorDash	8,3 Millionen Bestellungen	15 % Provision
Uber isst	5,7 Millionen Bestellungen	18 % Provision

Marketing- und Werbepartnerschaften

Darden arbeitet mit spezialisierten Marketingagenturen zusammen:

• Publicis Groupe für nationale Werbekampagnen
• Digitas für digitale Marketingstrategien
• WPP zur globalen Markenpositionierung

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Hauptaktivitäten

Restaurantbetrieb und -management

Darden Restaurants betreibt (Stand Mai 2023) insgesamt 1.868 Restaurants mit der folgenden Markenaufteilung:

Restaurantmarke	Anzahl der Standorte
Olivengarten	849
LongHorn Steakhouse	598
Cheddars Scratch Kitchen	178
Hauptstadtgitter	61
Andere Marken	182

Menüentwicklung und kulinarische Innovation

Jährliche Investition in Menüforschung und -entwicklung: 12,5 Millionen US-Dollar

• Jährlich werden neue Menüpunkte eingeführt: 15–20 bei allen Restaurantmarken
• Größe des kulinarischen Innovationsteams: 37 professionelle Köche
• Durchschnittliche Zeit zum Entwickeln und Testen eines neuen Menüpunkts: 6–8 Monate

Markenmarketing und Verbesserung des Kundenerlebnisses

Marketingausgaben im Geschäftsjahr 2023: 308,4 Millionen US-Dollar

Marketingkanal	Prozentsatz des Budgets
Digitales Marketing	42%
Traditionelle Medien	33%
Social-Media-Kampagnen	15%
Werbeveranstaltungen	10%

Koordination der Lieferkette

Jährliches Supply-Chain-Management-Budget: 624 Millionen US-Dollar

• Anzahl direkter Lebensmittellieferanten: 273
• Anteil regionaler Zutaten: 28 %
• Ziel zur Verbesserung der Lieferketteneffizienz: 4,5 % jährlich

Digitale Technologieintegration und Online-Bestellsysteme

Investitionen in digitale Technologie im Jahr 2023: 87,6 Millionen US-Dollar

Digitale Plattform	Prozentsatz des digitalen Umsatzes
Bestellungen über mobile Apps	37%
Website-Bestellung	28%
Lieferung durch Dritte	35%

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Schlüsselressourcen

Vielfältiges Restaurantmarkenportfolio

Ab 2024 betreibt Darden Restaurants die folgenden Restaurantmarken:

Marke	Anzahl der Restaurants	Jahresumsatz (2023)
Olivengarten	854	3,8 Milliarden US-Dollar
LongHorn Steakhouse	592	2,1 Milliarden US-Dollar
Cheddars Scratch Kitchen	178	815 Millionen Dollar

Kompetente Küchen- und Managementteams

Darden beschäftigt in seinen Restaurantmarken insgesamt rund 185.000 Mitarbeiter.

• Durchschnittliche Erfahrung im Restaurantmanagement: 8,5 Jahre
• Jährliche Schulungsinvestition: 42 Millionen US-Dollar
• Unternehmensführungsteam mit durchschnittlich mehr als 15 Jahren Branchenerfahrung

Umfangreiches Restaurant-Immobiliennetzwerk

Immobilienbestand und Mietvertragsdetails:

Eigenschaftsmetrik	Wert
Gesamtzahl der Restaurantstandorte	1,624
Eigene Immobilien	38%
Verpachtete Objekte	62%
Jährliche Immobilieninvestition	215 Millionen Dollar

Markenbekanntheit und Kundentreue

• Mitglieder des Kundenbindungsprogramms: 26 Millionen
• Durchschnittliche Kundenbesuchshäufigkeit: 3,2 Mal pro Monat
• Digitale Engagement-Rate: 42 % des Gesamtumsatzes

Digitale Technologieinfrastruktur

Technologieinvestitionen und -fähigkeiten:

Technologiebereich	Investition	Schlüsselfunktionen
Digitale Plattform	87 Millionen Dollar	Mobiles Bestell- und Reservierungssystem
Datenanalyse	42 Millionen Dollar	Einblicke in das Kundenverhalten
IT-Infrastruktur	65 Millionen Dollar	Cloudbasierte Restaurantmanagementsysteme

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Wertversprechen

Vielfältige Gastronomiekonzepte, die auf unterschiedliche Kundenwünsche eingehen

Darden Restaurants betreibt mehrere Restaurantmarken mit unterschiedlichen Wertversprechen:

Restaurantmarke	Jahresumsatz (2023)	Anzahl der Standorte
Olivengarten	3,84 Milliarden US-Dollar	874
LongHorn Steakhouse	2,16 Milliarden US-Dollar	572
Cheddars Scratch Kitchen	1,12 Milliarden US-Dollar	169
Hauptstadtgitter	534 Millionen US-Dollar	61

Gleichbleibende Lebensmittelqualität und erschwingliches Essen für die ganze Familie

Wichtige Kennzahlen zur Veranschaulichung des Wertversprechens:

• Durchschnittlicher Scheck pro Person im Olive Garden: 19,50 $
• Durchschnittlicher Scheck pro Person im LongHorn Steakhouse: 24,75 $
• Kundenzufriedenheitsbewertung: 4,2/5
• Stammkundenquote: 62 %

Bequeme Online-Bestell- und Lieferoptionen

Digitale Bestellleistung im Jahr 2023:

• Digitaler Umsatz: 1,2 Milliarden US-Dollar
• Anteil am Gesamtumsatz über digitale Kanäle: 22 %
• Durchschnittlicher digitaler Bestellwert: 45,30 $
• Downloads mobiler Apps: 3,4 Millionen

Anpassbare Menüangebote

Marke	Optionen zur Menüanpassung	Unterkünfte für spezielle Diäten
Olivengarten	12 Pasta-Anpassungsoptionen	Glutenfreie, vegetarische Optionen
LongHorn Steakhouse	8 Methoden zur Steakzubereitung	Low-Carb-, Keto-freundliche Auswahl

Einladende und komfortable Restaurantumgebung

Investitionskennzahlen für die Restaurantumgebung:

• Jährliches Budget für die Restaurantrenovierung: 85 Millionen US-Dollar
• Durchschnittliche Restaurantrenovierungskosten: 350.000 US-Dollar pro Standort
• Häufigkeit der Neugestaltung des Restaurantinnenraums: Alle 5–7 Jahre
• Bewertung des Kundenkomforts: 4,3/5

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Kundenbeziehungen

Treueprogramme aller Restaurantmarken

Darden Restaurants betreibt Treueprogramme für mehrere Marken:

Marke	Einzelheiten zum Treueprogramm	Aktive Mitglieder
Olivengarten	Olive Garden Rewards-Programm	13,5 Millionen aktive Mitglieder
LongHorn Steakhouse	LongHorn Steakhouse-Prämien	8,2 Millionen aktive Mitglieder
Hauptstadtgitter	Capital Grille-Belohnungen	2,3 Millionen aktive Mitglieder

Personalisiertes digitales Marketing

Digitale Marketingkennzahlen für Darden Restaurants:

• E-Mail-Marketing-Datenbank: 22,4 Millionen Abonnenten
• Conversion-Rate personalisierter Angebote: 14,6 %
• Downloads mobiler Apps: 6,7 Millionen

Aktives Social-Media-Engagement

Plattform	Anhänger	Engagement-Rate
Instagram	1,2 Millionen	3.7%
Facebook	2,5 Millionen	2.9%
Twitter	450,000	1.8%

Kundenfeedback und kontinuierliche Verbesserung

Kennzahlen zur Kundenzufriedenheit:

• Jährliche Kundenbefragungen abgeschlossen: 285.000
• Durchschnittliche Kundenzufriedenheit: 4,2/5
• Rücklaufquote bei Online-Bewertungen: 92 %

Konsistenter Service und kulinarisches Erlebnis

Servicequalitätsindikatoren:

Metrisch	Leistung
Durchschnittliche Serverschulungsstunden	42 Stunden pro Mitarbeiter
Zufriedenheitsbewertung für Testkäufer	8.7/10
Tischwechselzeit	45 Minuten

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Kanäle

Physische Restaurantstandorte

Ab 2024 betreibt Darden Restaurants insgesamt 1.850 Restaurantstandorte in den Vereinigten Staaten.

Restaurantmarke	Anzahl der Standorte
Olivengarten	854 Restaurants
LongHorn Steakhouse	570 Restaurants
Cheddars Scratch Kitchen	250 Restaurants
Hauptstadtgitter	61 Restaurants

Online-Bestellplattformen

Der digitale Umsatz macht im Jahr 2024 8,5 % des gesamten Restaurantumsatzes aus, wobei schätzungsweise 425 Millionen US-Dollar über Online-Kanäle generiert werden.

Mobile Anwendungen

• Downloads der mobilen Olive Garden-App: 3,2 Millionen aktive Benutzer
• Downloads der mobilen LongHorn Steakhouse-App: 2,1 Millionen aktive Benutzer
• Durchschnittliche monatliche mobile Bestellhäufigkeit: 2,7-mal pro Benutzer

Lieferdienste von Drittanbietern

Zu den Partnerschaften gehören:

• DoorDash: 65 % des digitalen Drittanbieter-Liefervolumens
• Uber Eats: 22 % des digitalen Liefervolumens von Drittanbietern
• Grubhub: 13 % des digitalen Drittanbieter-Liefervolumens

Direktmarketing und Werbekampagnen

Marketingkanal	Jährliche Ausgaben
Digitales Marketing	87 Millionen Dollar
Traditionelle Medienwerbung	62 Millionen Dollar
Marketing für Treueprogramme	41 Millionen Dollar

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Kundensegmente

Familienrestaurantmarkt

Darden Restaurants richtet sich an Familien mit einem jährlichen Haushaltseinkommen von 75.000 bis 125.000 US-Dollar. Die familienfreundlichen Restaurantmarken des Unternehmens bewirten jährlich rund 400 Millionen Gäste.

Kundendemografie	Prozentsatz
Familien mit Kindern unter 18 Jahren	42%
Verheiratete Paare	53%
Durchschnittliche Familiengröße	3,4 Personen

Casual-Dining-Konsumenten

Das Casual-Dining-Segment von Darden richtet sich an Verbraucher im Alter von 25 bis 54 Jahren, mit einem durchschnittlichen Restaurantscheck von 19,50 $ pro Person.

• Durchschnittliche Restaurantbesuchshäufigkeit: 2,3 Mal pro Monat
• Durchschnittsalter der Casual-Dining-Konsumenten: 38 Jahre
• Verfügbares Einkommen: 50.000 bis 95.000 US-Dollar pro Jahr

Millennials und Gen Z

Darden konzentriert sich darauf, jüngere Zielgruppen durch digitales Engagement und Menüinnovationen anzulocken.

Demographisch	Prozentsatz der Restaurantbesuche
Millennials (25–40 Jahre)	35%
Gen Z (18–24 Jahre)	22%

Restaurantsegment im mittleren Preissegment

Darden zielt auf das Restaurantsegment der mittleren Preisklasse mit einem durchschnittlichen Essenspreis zwischen 15 und 25 US-Dollar ab.

• Marktanteil im mittleren Preissegment: 18,5 %
• Jahresumsatz von Restaurants der mittleren Preisklasse: 8,2 Milliarden US-Dollar
• Anzahl der Restaurantstandorte im mittleren Preissegment: 1.700

Kunden aus der Stadt- und Vorstadtgastronomie

Die Restaurantmarken von Darden bedienen sowohl städtische als auch vorstädtische Märkte in den Vereinigten Staaten.

Markttyp	Restaurantstandorte	Kundenverteilung
Städtische Gebiete	680 Standorte	38%
Vorstadtgebiete	1.020 Standorte	62%

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Kostenstruktur

Beschaffung von Lebensmitteln und Zutaten

Für das Geschäftsjahr 2023 meldete Darden Restaurants Lebensmittel- und Getränkekosten in Höhe von 3,9 Milliarden US-Dollar, was etwa 31,5 % des gesamten Restaurantumsatzes entspricht.

Kostenkategorie	Jährliche Ausgaben	Prozentsatz des Umsatzes
Proteinzutaten	1,42 Milliarden US-Dollar	11.5%
Produzieren	620 Millionen Dollar	5%
Milchprodukte	480 Millionen Dollar	3.9%

Arbeits- und Personallöhne

Im Geschäftsjahr 2023 beliefen sich die gesamten Arbeitskosten von Darden auf 4,6 Milliarden US-Dollar, was 37,2 % des Restaurantumsatzes ausmachte.

• Durchschnittlicher Stundenlohn für Restaurantpersonal: 15,37 $
• Gesamtzahl der Mitarbeiter: 185.000
• Managementvergütung: 92,3 Millionen US-Dollar

Restaurantmiete und -wartung

Die Gesamtkosten für die Belegung beliefen sich im Geschäftsjahr 2023 auf 1,1 Milliarden US-Dollar.

Ausgabentyp	Jährliche Kosten
Miete	780 Millionen Dollar
Anlagenwartung	320 Millionen Dollar

Marketing- und Werbekosten

Die Marketingausgaben für das Geschäftsjahr 2023 beliefen sich auf insgesamt 340 Millionen US-Dollar.

• Budget für digitales Marketing: 128 Millionen US-Dollar
• Traditionelle Werbung: 212 Millionen US-Dollar

Investitionen in Technologie und digitale Infrastruktur

Die Technologieinvestitionen erreichten im Geschäftsjahr 2023 215 Millionen US-Dollar.

Technologie-Investitionsbereich	Jährliche Ausgaben
Entwicklung digitaler Plattformen	95 Millionen Dollar
Point-of-Sale-Systeme	62 Millionen Dollar
Cybersicherheit	58 Millionen Dollar

Darden Restaurants, Inc. (DRI) – Geschäftsmodell: Einnahmequellen

Verkauf von Dine-in-Restaurants

Für das Geschäftsjahr 2023 meldete Darden Restaurants einen Gesamtumsatz von 9,61 Milliarden US-Dollar. Olive Garden erwirtschaftete 4,24 Milliarden US-Dollar, LongHorn Steakhouse erwirtschaftete 2,05 Milliarden US-Dollar und andere Restaurantmarken trugen 3,32 Milliarden US-Dollar zum Umsatz mit Dine-in-Restaurants bei.

Restaurantmarke	Jahresumsatz ($B)
Olivengarten	4.24
LongHorn Steakhouse	2.05
Andere Marken	3.32

Bestellungen zum Mitnehmen und Liefern

Der digitale Umsatz machte im Geschäftsjahr 2023 32 % des Gesamtumsatzes aus und belief sich auf etwa 3,07 Milliarden US-Dollar.

Catering-Dienstleistungen

Die Catering-Einnahmen von Darden Restaurants erreichten im Geschäftsjahr 2023 412 Millionen US-Dollar, was hauptsächlich auf das Catering-Programm von Olive Garden zurückzuführen ist.

Verkauf von Geschenkkarten

Der Umsatz mit Geschenkkarten für Darden Restaurants belief sich im Geschäftsjahr 2023 auf insgesamt 568 Millionen US-Dollar.

Franchise- und Lizenzeinnahmen

Die Franchise- und Lizenzeinnahmen beliefen sich im Geschäftsjahr 2023 auf 94 Millionen US-Dollar.

Einnahmequelle	Betrag (Mio. USD)
Digitaler Vertrieb	3,070
Catering-Dienstleistungen	412
Verkauf von Geschenkkarten	568
Franchise/Lizenzierung	94

Darden Restaurants, Inc. (DRI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Darden Restaurants, Inc. keeps winning in a tough market, right around the end of fiscal year 2025. It's about delivering specific value to different diners, which you can see clearly in the numbers.

Value-focused casual dining with unlimited offerings (Olive Garden).

Olive Garden continues to be the engine, showing strong demand even when consumers are cautious. For the fourth quarter of fiscal 2025, Olive Garden same-restaurant sales grew by an impressive 6.9%. For the full fiscal year 2025, the brand delivered 1.7% same-restaurant sales growth, contributing significantly to the total. The brand operates 935 locations as of May 25, 2025. The value proposition is reinforced by its off-premise success; delivery made up about 3.5% of Olive Garden's total sales in the fourth quarter of fiscal 2025, and overall off-premise sales grew nearly 20% over the prior year.

High-quality, consistent steakhouse experience at a casual price point (LongHorn Steakhouse).

LongHorn Steakhouse shows strong execution on its value promise, often leading the segment growth. In the fourth quarter of fiscal 2025, LongHorn Steakhouse same-restaurant sales were up 6.7%. For the full fiscal year 2025, this brand achieved 5.1% same-restaurant sales growth. Darden operated 591 LongHorn Steakhouse locations as of May 25, 2025. This brand's performance suggests consumers see it as a reliable, affordable indulgence.

Here's a quick look at how the major segments performed in same-restaurant sales for the last reported quarter of fiscal 2025:

Brand Segment	Q4 Fiscal 2025 Same-Restaurant Sales Change
Olive Garden	6.9%
LongHorn Steakhouse	6.7%
Consolidated Darden	4.6%

Upscale, experiential fine dining for affluent consumers (The Capital Grille, Ruth's Chris).

The Fine Dining segment, which includes The Capital Grille and Ruth's Chris Steak House, faced headwinds in the latter part of fiscal 2025, indicating that even affluent consumers pulled back slightly on experiential spending. The segment posted a same-restaurant sales decline of (3.3)% in the fourth quarter of fiscal 2025. For the full fiscal year 2025, the segment saw a (3.0)% decline in same-restaurant sales. Still, the company is committed to this portfolio, having authorized a new share repurchase program of up to $1 billion, signaling confidence in its overall cash flow generation.

Portfolio diversity that hedges against economic and consumer taste shifts.

Darden Restaurants, Inc.'s portfolio diversity is a key value driver, evident in the varied segment performances. Total sales for the full fiscal year 2025 reached $12.1 billion, a 6.0% increase over fiscal 2024, despite the Fine Dining softness. The company operated 2,159 restaurants as of May 25, 2025, spanning multiple price points and cuisines, including 181 Cheddar's Scratch Kitchen locations and the recently acquired Chuy's Tex Mex restaurants. This diversity helps stabilize overall results. The commitment to shareholder returns, a reflection of this stable model, is seen in the quarterly cash dividend being increased by 7.1% to $1.50 per share.

Seamless off-premise experience via ToGo and delivery.

The focus on making the experience portable is a clear value-add. Olive Garden's delivery check size is currently 20% higher than traditional small order takeout, which helps lift average transaction value. The company is actively investing in this area, with Olive Garden achieving a nearly 20% increase in takeout sales year-over-year in the last quarter. The rollout of delivery, such as the Uber Direct partnership, is a tangible step in meeting modern consumer convenience demands.

Finance: draft 13-week cash view by Friday.

Darden Restaurants, Inc. (DRI) - Canvas Business Model: Customer Relationships

You're looking at how Darden Restaurants, Inc. (DRI) keeps its guests coming back, which is really the engine for their $12,076.7 million in total sales for fiscal year 2025. The relationship strategy hinges on balancing that classic, high-touch dining experience with modern convenience.

High-touch, in-restaurant service model focused on guest satisfaction.

The core relationship is built on the floor of the restaurant. When you look at the operational execution, it translates directly into guest perception. For instance, LongHorn Steakhouse achieved an all-time high for steaks grilled correctly, which is a concrete measure of in-restaurant execution that builds trust. This focus supports the overall portfolio, which saw consolidated same-restaurant sales growth of 4.6% in the fourth quarter of fiscal 2025. Even with economic shifts, the major brands show consistent strength:

• Olive Garden same-restaurant sales (FY2025 Q4): 6.9%
• LongHorn Steakhouse same-restaurant sales (FY2025 Q4): 6.7%
• Fine Dining same-restaurant sales (FY2025 Q4): 6.7%

The sheer scale of the in-restaurant presence is significant, with 2,159 restaurants owned and operated in the United States and Canada as of May 25, 2025, including 935 Olive Garden locations and 591 LongHorn Steakhouse locations.

Digital and mobile ordering for convenient ToGo and delivery orders.

Convenience is now table stakes, and Darden Restaurants has pushed hard on off-premises channels. Olive Garden's off-premises sales surged 20% year-over-year in a recent period. The digital relationship is being cemented through delivery partnerships; Olive Garden completed the rollout of Uber Direct delivery across nearly all its locations. This focus on digital access is paying off, as delivery orders generally carry higher average checks than curbside pickup orders. The investment in this channel is clear, with adjusted diluted net earnings per share from continuing operations hitting $1.97 in the first quarter of fiscal 2026.

Brand-specific value promotions to drive traffic and perceived value.

Darden Restaurants, Inc. uses targeted promotions to manage traffic flow and perceived value, especially with its largest brand. Olive Garden, which contributes approximately 40% of quarterly revenue, successfully reintroduced its 'Buy One Take One' promotion, priced at $14.99 for a second meal to take home. This specific value play boosted Olive Garden sales by 6.9% and widened its sales advantage over the broader casual dining industry by 450 basis points. The focus on value is a recurring theme, as seen in LongHorn Steakhouse's continued outperformance, driven by the promise of reasonably priced quality meat.

You can see how these relationship drivers impact sales momentum across quarters:

Metric (Same-Restaurant Sales)	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1
Consolidated Darden	2.4%	0.7%	4.6%	4.7%
Olive Garden	2.0%	0.6%	6.9%	5.9%
LongHorn Steakhouse	7.5%	2.6%	6.7%	5.5%

Standardized operational excellence across all brands (brilliant with the basics).

Operational consistency underpins the entire relationship structure. This commitment to the basics allows for efficient execution, even when integrating new concepts. For example, the introduction of smaller restaurant prototypes for Yard House and Cheddar's Scratch Kitchen has successfully reduced construction costs by approximately 15% while maintaining brand essence. This efficiency helps maintain margin health, which was 18.9% for the restaurant-level EBITDA margin in the first quarter of fiscal 2026. The company's full-year fiscal 2025 diluted net earnings per share was $8.86.

• Total capital spending planned for fiscal 2026: $700 million to $750 million.
• New restaurant openings planned for fiscal 2026: 60 to 65.
• FY2025 total dividends declared per share: $5.60.

The focus on disciplined execution across the portfolio of 10 major brands is what keeps the guest relationship strong enough to support a new share repurchase authorization of up to $1 billion. Finance: draft 13-week cash view by Friday.

Darden Restaurants, Inc. (DRI) - Canvas Business Model: Channels

You're looking at how Darden Restaurants, Inc. gets its food and experiences to the customer, which is a mix of old-school real estate and modern digital reach. It's a multi-pronged approach, really.

The core channel remains the company-owned physical restaurant locations. As of the end of fiscal year 2025, which concluded on May 25, 2025, Darden Restaurants, Inc. owned and operated 2,159 restaurants across the United States and Canada. This massive footprint is the primary way they serve nearly 360 million guests annually.

The unit count breaks down across their key brands, showing where the volume is:

• Olive Garden: 935 locations.
• LongHorn Steakhouse: 591 locations.
• Cheddar's Scratch Kitchen: 181 locations.

Growth in this channel for fiscal 2025 included the addition of 103 net company-owned Chuy's restaurants and 25 other net new restaurants, totaling 128 net company-owned additions for the year.

For the fiscal 2026 outlook, Darden planned for continued physical expansion, guiding for new restaurant openings between 60 and 65 units.

Darden uses direct digital platforms-their websites and apps-to handle ToGo and catering orders. While specific digital sales percentages aren't broken out for every channel, the overall digital engagement is clearly important for driving incremental revenue. For instance, in the fourth quarter of fiscal 2025, delivery fees themselves contributed a small boost of about 4% to their average check size for that quarter. This shows the direct transactional value of their digital ordering capabilities, whether fulfilled in-house or via partners.

The use of third-party delivery services is integrated into their digital strategy. The data point showing that delivery fees added about 4% to the average check size in Q4 2025 suggests a measurable financial impact from these off-premise channels. You can see the scale of the company's owned vs. franchised operations in this table as of May 25, 2025:

Channel Type	Unit Count (as of May 25, 2025)	Geographic Scope
Company-Owned Restaurants	2,159	United States and Canada
Franchised Restaurants	154	International (Latin America, Asia, Middle East, Caribbean) and US Airports
Total Restaurants (Owned + Franchise)	2,313 (Approximate)	Global

The international franchise network is a key growth lever outside of the core U.S. and Canada operations. As of May 25, 2025, Darden had 154 franchised restaurants. The company is actively expanding this channel, announcing new development agreements for 40 Olive Garden locations in India and another 40 Olive Garden locations in Spain, plus 6 Capital Grille locations in Asia. Furthermore, Darden is repositioning its Canadian Olive Garden market by transitioning locations to franchise ownership under a new agreement to open 30 additional restaurants there over the next decade. This focus on franchising allows Darden to scale its recognizable brands into new territories with local partners who have established operational experience.

Darden Restaurants, Inc. (DRI) - Canvas Business Model: Customer Segments

You're looking at how Darden Restaurants, Inc. (DRI) divides up its dining public across its portfolio, which is key to understanding their $12.1 billion in total sales for fiscal year 2025. The company serves a broad base, but the segments break down by income level and dining occasion.

Core Casual Diners: Middle-income families seeking value (Olive Garden, LongHorn)

This group forms the volume backbone of Darden Restaurants, Inc. Olive Garden, the largest chain, is the primary draw for this segment, contributing an estimated 43% of total revenue in fiscal year 2025, which equates to $5.21 billion. LongHorn Steakhouse is the second pillar, with sales reaching $3.03 billion in fiscal 2025. These brands target trade areas with a median household income around $69.0K to $70.1K. Still, executives noted that lower-income consumers, specifically those earning below $75,000 annually, showed reduced spending habits across the portfolio in early 2025.

Here's a look at the scale of these core brands as of May 25, 2025:

Brand	FY2025 Q4 Sales (Millions USD)	FY2025 Full Year Same-Restaurant Sales Growth	Company-Owned Locations (as of May 25, 2025)
Olive Garden	$1,381	1.7%	935
LongHorn Steakhouse	$834	5.1%	591

The focus here is on delivering perceived value; for example, Olive Garden ran a 'buy one, take one' pasta promotion starting at $14.99 during Q4 2025.

Affluent Consumers: High-income individuals for fine dining (Ruth\'s Chris, The Capital Grille)

This segment seeks premium experiences, primarily through the Fine Dining segment, which includes The Capital Grille and Ruth's Chris Steak House. While this group is generally less sensitive to minor economic shifts than lower-income diners, the segment did experience headwinds, reporting a 5.8% decline in same-restaurant performance in Q2 of fiscal 2025. However, the full fiscal year 2025 same-restaurant sales for the entire Fine Dining segment finished positive at 5.1%. The Q4 2025 sales for the combined Fine Dining segment were $335 million.

The company noted that lower-income households earning below $75,000 annually showed a particularly pronounced decrease in transactions within this fine-dining category.

Specialty/Experiential Diners: Younger, higher-income groups (Yard House, Chuy\'s)

Darden Restaurants, Inc. targets younger, often higher-income diners through brands like Yard House and the recently acquired Tex-Mex chain, Chuy's. Yard House demonstrates strong appeal to this demographic, boasting a trade area median household income of $82.6K, which is notably higher than the core casual brands. This group showed strong momentum in Q2 2025, with Yard House posting a 6.2% increase in overall visits and a 4.3% gain in same-store visits. Chuy's results are folded into the Other Business segment, which saw a substantial 22.5% surge in sales in Q3 2025, largely due to its inclusion.

• Yard House Same-Store Visits (Q2 2025): 4.3% increase.
• Yard House Trade Area Median HH Income: $82.6K.
• Chuy\'s acquisition added 103 new restaurants in fiscal 2025.

Corporate and Group Customers: Catering and private dining events

This segment is served through private dining rooms and catering options available across the portfolio, most prominently at the Fine Dining concepts and larger casual locations like Olive Garden and LongHorn Steakhouse. While Darden Restaurants, Inc. does not typically report a specific revenue line item for catering or private dining events separate from total segment sales, the high average check and business-focused atmosphere of brands like The Capital Grille and Ruth's Chris are designed to capture corporate expense accounts and celebrations. The total number of Darden-operated restaurants across all brands stood at 2,159 as of May 25, 2025, providing a wide physical footprint to service group needs.

Here's a summary of the segment structure that serves these customers:

Segment Name	Key Brands Representing Segment	FY2025 Q4 Sales (Millions USD)
Fine Dining	Ruth\'s Chris, The Capital Grille, Eddie V\'s	$335
Other Business	Yard House, Chuy\'s (includes group/catering potential)	$722

Darden Restaurants, Inc. (DRI) - Canvas Business Model: Cost Structure

You're looking at the major drains on Darden Restaurants, Inc.'s bottom line, which is what cost structure is all about. It's a mix of variable costs that move with sales and big fixed investments in the business.

Dominant Variable Costs: Food, Beverage, and Labor

The biggest recurring costs are what you'd expect: the ingredients and the people serving them. For the fiscal year ending May 25, 2025, Darden Restaurants, Inc. reported that Food and beverage costs actually decreased as a percent of sales, thanks to pricing leverage and cost savings, though inflation was a headwind. Similarly, Restaurant labor costs also decreased as a percent of sales for that same period, driven by sales leverage and productivity, despite inflation. However, the near-term pressure is clear; comparing Q1 2026 to Q1 2025, Food and beverage costs jumped 9.7% and labor costs rose 11.1% year-over-year, showing inflation is definitely biting now.

The way Darden measures profitability at the restaurant level (Segment Profit) excludes non-cash real estate related expenses, meaning rent and depreciation aren't in that core operating metric.

Capital Expenditures for Growth

Darden Restaurants, Inc. commits significant capital to expanding its footprint. The plan for capital expenditures to build new restaurants, remodel existing ones, and fund technology initiatives for fiscal 2025 was approximately $650 million. For fiscal 2026, the total capital spending outlook is set between $700 million and $750 million.

Centralized Corporate Overhead

Centralized corporate functions drive General and Administrative (G&A) expenses. Darden Restaurants, Inc.'s annual SG&A expenses for the full fiscal year 2025 were reported as $0.69 billion. Looking at a specific period, for the second quarter of fiscal 2025 (ended November 24, 2024), General and administrative expenses were $25.0 million.

Acquisition and Integration Costs

Strategic moves, like the acquisition of Chuy's Holdings, Inc., introduce one-time, non-recurring costs. For fiscal 2025, Darden Restaurants, Inc. expected approximately $47 million, pre-tax, in transaction and integration related costs associated with the Chuy's acquisition. The total enterprise value for the Chuy's acquisition itself was approximately $605 million.

Occupancy Costs and Real Estate Portfolio

The cost of the extensive real estate portfolio is a major fixed component. While a specific total occupancy cost isn't explicitly stated, the impact of the real estate base is reflected in depreciation. For the six months ended November 24, 2024, Depreciation and amortization expenses increased as a percent of sales, largely due to the Chuy's acquisition and incremental depreciation on new restaurant assets.

Here's a quick look at how some of these major cost categories compare:

Cost Category	FY2025 Financial Data Point	Amount/Value
Capital Expenditures (New Units/Remodels/Tech)	Fiscal 2025 Total Capital Spending	$650 million
Acquisition & Integration Costs (Chuy's)	Expected Pre-Tax Costs for FY2025	$47 million
General & Administrative (G&A)	Annual SG&A Expense for 2025	$0.69 billion
Food & Beverage Costs	Year-over-Year Inflationary Jump (Q1 2026 vs Q1 2025)	9.7%
Restaurant Labor Costs	Year-over-Year Inflationary Jump (Q1 2026 vs Q1 2025)	11.1%

You can see the pressure points clearly: the fixed investment in growth via CapEx, the one-time hit from acquisitions, and the variable cost inflation in labor and ingredients.

Finance: draft 13-week cash view by Friday

Darden Restaurants, Inc. (DRI) - Canvas Business Model: Revenue Streams

The core of Darden Restaurants, Inc. (DRI) revenue generation comes from the direct sale of food and beverages consumed within its restaurants. This represents the primary revenue stream across its portfolio of iconic brands. However, the company has seen significant growth in its off-premise channels, which include ToGo (takeout), catering, and delivery services across all brands. For instance, during the fourth quarter of fiscal 2025, Olive Garden saw a nearly 20% increase in takeout sales, and its delivery order volumes nearly doubled in the last two weeks of that quarter, showing strong momentum in these ancillary channels.

Total sales reached $12.1 billion for fiscal year 2025. This figure is the aggregate of all company-operated restaurant sales for the period ended May 25, 2025. To give you a clearer picture of the composition of that total revenue, here is a breakdown of the major segment sales for the full fiscal year 2025:

Revenue Source / Segment	Fiscal Year 2025 Sales (in millions)	Percentage of Total Sales (Approximate)
Consolidated Darden Total Sales	$12,076.7	100%
Olive Garden Sales	$5,212.9	43.17%
LongHorn Steakhouse Sales	$3,025.5	25.05%
Fine Dining Sales	$1,304.8	10.81%
Other Business Sales (including Chuy's)	$2,533.5	20.98%

Olive Garden contributed $5.21 billion, which accounts for approximately 43% of the total sales in FY2025. The Other Business segment, which includes Cheddar's Scratch Kitchen, Yard House, and the recently acquired Chuy's, accounted for $2,533.5 million in sales for the full year.

A secondary, though less significant, revenue stream involves franchise fees and royalties derived from international operations and domestic franchise agreements. Darden Restaurants, Inc. has area development, franchise, and license agreements for brands like Olive Garden and LongHorn Steakhouse in regions spanning the United States, Canada, Mexico, Central and South America, Asia, the Caribbean, Europe, and the Middle East as of May 25, 2025. However, the income derived from these franchise arrangements, including royalty income, is explicitly stated as not material to the consolidated financial statements.

You can see the key drivers of the revenue base here:

• Primary revenue source is in-restaurant food and beverage sales.
• Total FY2025 sales reached $12,076.7 million.
• Olive Garden accounted for $5,212.9 million in FY2025 sales.
• Off-premise sales channels, like delivery, showed accelerated growth in Q4 FY2025.
• Franchise fees and royalties are generated internationally but are not material to total revenue.