FSR August 2023

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LONGHORN STEAKHOUSE 9 Like its sister concept Olive Garden, LongHorn continues to reap benefits from Darden’s decision to under price inflation (400 basis points over the past three years, industry-wide). LongHorn set weekly sales records multiple times in its most recent quarter. The brand’s average weekly sales of $96,905 pulled out to annual ized volumes of $5.01 million. That’s a major jump from 2020, when it was $76,101. LongHorn’s total sales of $1.9 billion represented a company record as well. Comps rose 10.8 percent and the chain enjoyed 17.4 per cent margin, 80 basis points higher, year-over-year. When Darden acquired LongHorn, it closed the following year (2008) with 305 locations. That would balloon to 514 by 2019 and now sits at 554. DENNY’S

10 The casual breakfast din ing chain recently invested more than $25 million to improve and upgrade kitchen equipment, pro pelling the development of menu innovation while increasing effi ciency and reducing waste. After completing the initiative, the brand launched a new menu fea turing a custom augmented reality ( ar ) experience. Recent additions like Mac N' Brisket Sizzlin' Skillet and Oven-Baked Lasagna are out

THE CHEESECAKE FACTORY

THE CHEESECAKE FACTORY 11 With a new Cheesecake Rewards loyalty program set to launch nationwide this summer, the casual dining concept considers itself a leader in the experiential dining category, differentiated by its 235 menu items made fresh from scratch, plus an integrated bakery that produces more than 60 cheesecakes and other baked goods. Same-store sales at the Calabasas Hills, California-based company rose 5.7 percent in the first quarter of 2023 year-over year, and revenues reached $866.1 million.

DFO, LLC

performing expectations, leading to an 8.4 percent increase in sys temwide same-store sales in the first quarter of 2023. Denny’s is also making progress on its “big three” near-term initiatives, which include staffing, 24/7 operations, and value.

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