Red Lobster Moves to China Essays

2134 Words Aug 13th, 2013 9 Pages
RED LOBSTER MOVES to CHINA?

HTM 540, International Tourism Development
May 26, 2013

Review key points from Darden Restaurant’s most recent 10-K. Their stock symbol on the NYSE is DRI Darden Restaurants based on company sales, market and the amount of company owned and managed restaurants, is the world's largest casual dining restaurant company who has a variety of dining brands to choose from. Their mission is to be “The best, now and for generations... and a place where people can achieve their dreams” (Darden 10K, 2012). According to their most recent 10-K report (2012), there are many key points for review. “Of the 1,961 restaurants across the United States & Canada none of them are franchised” (Nation’s
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and Canada. Darden operates more than 2,000 restaurants in the U.S. and Canada. Red Lobster in particular began its work with six restaurants fiscal year ending 1970 that increased to 704 restaurants in the United States and Canada by ending fiscal year 2012. In 1983, Darden opened its first Red Lobster restaurant in Windsor, Ontario, located in Canada. The first Red Lobster restaurant in the United States opened in 1968 in Lakeland, Florida. There is a plan for Red Lobster to remodel its restaurants across the U.S. and Canada. The new design will mirror the seaside village of Bar Harbor, Maine. “As of June, 2012 they have more than half of the system in the Bar Harbor image. All of Red Lobster’s restaurants are scheduled to be completed by 2014” (“Corporate Fact Sheet,” 2012, para. 6) . According to the Data monitor report on leading companies (2008), in Canada, the company operates 29 Red Lobster restaurants (para. 4). Although Red Lobster has had success in Canada, there is no other quick service seafood restaurant in the U.S. that has a major -based quick-service seafood restaurant who has established a major existence towards the northern end of the border. Barry Shannon (1996) Vice President of Operations of Red Lobster in Canada explains that “Red Lobster offsets higher food, beverage and labor costs with higher check averages -up to 20 percent higher than at Red Lobster's counterparts in the States” (p. 1).
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