ROANOKE TIMES Copyright (c) 1996, Roanoke Times DATE: Friday, September 20, 1996 TAG: 9609200049 SECTION: BUSINESS PAGE: A-7 EDITION: METRO
Darden Restaurants
1st qtr. ended 8-25 1996 1995
Revenues $805.6 million $836.0 million
Net Income $20.5 million ($12.1 million)
Share earnings 13 cents (8 cents)
Orlando, Fla.-based Darden operates Red Lobster and Olive Garden restaurants in Western Virginia. Approximately half the sales decline related to the discontinued China Coast stores, which were closed last August. In last year's first quarter, the company recorded a $75 million pre-tax restructuring charge to discontinue China Coast.
Food Lion Inc.
3rd qtr. ended 9-7 1996 1995
Revenues $2.12 billion $1.91 billion
Net Income $50.0 million $41.0 million
Share earnings 11 cents 9 cents
9 mos. ended 9-7
Revenues $6.23 billion $5.68 billion
Net Income $139.5 million $117.4 million
Share earnings 30 cents 24 cents
Salisbury, N.C.-based Food Lion operates grocery stores in Western Virginia.
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