Mergers and Acquisitions, Financial Results and Management Transitions - Research Report on Darden, Sysco, Harris Teeter, Supervalu, and United Natural Foods
NEW YORK, October 14, 2013 /PRNewswire/ --
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Today, Analysts' Corner announced new research reports highlighting Darden Restaurants, Inc. (NYSE: DRI), Sysco Corp. (NYSE: SYY), Harris Teeter Supermarkets, Inc. (NYSE: HTSI), SUPERVALU Inc. (NYSE: SVU), and United Natural Foods, Inc. (NASDAQ: UNFI). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Darden Restaurants, Inc. Research Report
On September 20, 2013, Darden Restaurants, Inc. (Darden) announced its Q1 FY 2014 financial results (period ended August 25, 2013). Darden reported diluted net EPS from continuing operations of $0.53 for Q1 FY 2014, a 37.6% YoY decline. The net earnings from continuing operations totaled $70.3 million for Q1 FY 2014 compared to $111.0 million for Q1 FY 2013. Darden informed that it is taking certain steps that will reduce its annualized operating support spending by approximately $50 million. The Company continues to expect diluted net EPS for FY 2014 to decline between 3% and 5% YoY. Commenting on the results, Clarence Otis, Chairman and CEO of Darden, said, "Following our industry's pronounced spikes up and down in same-restaurant sales last winter and spring, the results this summer are further evidence that we can expect sharper sales volatility as the slow and uneven recovery in the economy persists." Darden also informed that its Board of Directors declared a quarterly dividend of $0.55 per share. The Full Research Report on Darden Restaurants, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/b1b5_DRI]
Sysco Corp. Research Report
On September 30, 2013, Sysco Corp. (Sysco) announced that Manuel A. (Manny) Fernandez, Executive Chairman of Sysco's Board of Directors will retire at the Company's 2013 Annual Meeting of Stockholders in Houston on November 15, 2013. Sysco stated that Fernandez has served on the Company's board for seven years, and was appointed as Executive Chairman in April 2012, prior to which he served as Chairman of the board since June 2009. President and CEO of Sysco, Bill DeLaney, said, "We appreciate all of Manny's contributions to Sysco over the past seven years. I personally valued his mentoring as I progressed into the role of President and CEO. We wish him all the best in his future endeavors." The Full Research Report on Sysco Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/5efa_SYY]
Harris Teeter Supermarkets, Inc. Research Report
On October 3, 2013, Harris Teeter Supermarkets, Inc. (Harris Teeter) announced that majority of its shareholders voted to approve the previously announced Agreement and Plan of Merger, dated July 8, 2013, among Harris Teeter, Hornet Acquisition, Inc., and The Kroger Co. The Company informed that approximately 98.6% of the votes were cast in favor of the Merger Agreement. According to Harris Teeter, under the terms of the Merger Agreement, its shareholders will receive $49.38 per share in cash for each share of Harris Teeter common stock that they own; and following the transaction, Harris Teeter will be a wholly-owned subsidiary of The Kroger Co. The Company expects the transaction to close in Q4 2013. The Full Research Report on Harris Teeter Supermarkets, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/48d5_HTSI]
SUPERVALU Inc. Research Report
On October 8, 2013, Supervalu Inc. (Supervalu) announced that it will hold a conference call to discuss the Company's Q2 FY 2014 financial results on October 17, 2013 at 7:00 a.m. CT, which will also be webcast live online at the Company's website. Supervalu informed that a replay of the conference call will be archived at the Company's website, under the Investors section. The Full Research Report on SUPERVALU Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/b796_SVU]
United Natural Foods, Inc. Research Report
On September 26, 2013, United Natural Foods, Inc. (UNFI) announced that it has entered into a definitive agreement to acquire all of the equity interests of Trudeau Foods, LLC (Trudeau Foods) from Trudeau Holdings, LLC. UNFI informed that Trudeau Foods is the largest Minnesota-based distributor of natural, organic and specialty food products. Commenting on the acquisition, Steve Spinner, UNFI's President and CEO, stated, "This acquisition is the latest step in our strategy to grow our market share and deliver a complete basket of specialty, natural and organic products to our customers. We are excited to welcome Trudeau Foods to our organization. Both companies have a tremendous history of commitment to servicing their customers, and we are enthusiastic about the growth prospects for this market." The Full Research Report on United Natural Foods, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/9419_UNFI]
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