Red Lobster
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| Type | Wholly owned subsidiary |
|---|---|
| Traded as | NYSE: DRI |
| Industry | Restaurant |
| Genre | Casual dining |
| Founded | March 1968 Lakeland, Florida |
| Founder(s) | Bill Darden and Charley Woodsby |
| Headquarters | 1000 Darden Center Drive Orlando, Florida, U.S. 32837 |
| Number of locations | 698 (2011) |
| Area served | United States Canada Japan United Arab Emirates |
| Key people | Clarence Otis, Jr. (CEO/Chairman of Darden) |
| Products | Seafood, Chicken, Steaks, Pasta |
| Parent | Darden Restaurants, Inc. |
| Website | redlobster.com |
Red Lobster is an American casual dining restaurant chain that is owned and operated by Darden Restaurants, Inc., headquartered in Orlando, Florida. The company also has operations in Canada, the United Arab Emirates, Qatar and Japan. As of May 29, 2011, there were 698 Red Lobster locations worldwide.
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History [edit]
Red Lobster was founded in 1968 by entrepreneurs Bill Darden and Charley Woodsby. Originally billed as a "Harbor for Seafood Lovers", the first restaurant in Lakeland, Florida, was followed by several others throughout the southeast. In 1970, General Mills acquired Red Lobster as a five-unit company. With new backing, the chain expanded rapidly in the 1980s.
Red Lobster entered into Canada in the 1980s. The company still maintains a presence, but has since exited the Quebec market in September 1997 due to financial losses, and has never existed in British Columbia.[3]
In 1995, Red Lobster (along with Olive Garden and other sister chains), became part of Darden Restaurants, Inc.. During that time, General Mills decided to release Darden into an independent, publicly traded corporation.[2]
True to its name and slogan, the brand specializes in most seafood, including lobster.
Promotions [edit]
Red Lobster has offered an endless snow crab leg promotion twice in their history. However, in 2003, the promotion resulted in parent company Darden Restaurants taking a $3 million charge to third quarter earnings, resulting in president Edna Morris' departure from the company. The ill-timed promotion was launched amid high wholesale crab leg prices. The chain also underestimated how many times a guest would order more. Further complicating matters at the restaurant level was the amount of time a guest spent table-side in the restaurant cracking crab legs. This resulted in increased wait times in the lobby and overall diminished guest capacity per hour.[4]
In more recent years, the chain has offered an "Endless Shrimp" promotion annually.[citation needed]
New prototype [edit]
In 2009, Red Lobster debuted its new "Bar Harbor" restaurant prototype modeled after coastal New England.[5] The new exterior features include shingle and stone towers, signal flags and Adirondack-style benches. The interior updates include dark wood paneling, warm-toned fabrics, soft lighting, and nautical decor and artwork.[6] Ironically, there are only four Red Lobster restaurants in New England itself, all of which are located in western Connecticut closer to the NY state line.
References [edit]
Notes
- ^ "Darden 2011 Annual Report" (PDF). Darden Restaurants, Inc. Retrieved April 12, 2012.
- ^ a b Darden Restaurants, Inc. (May 29, 2011). "FY 2011 10-K". U.S. Securities and Exchange Commission. Retrieved April 11, 2012.
- ^ "Dur coup pour la restauration au Québec et en Ontario". Radio-Canada Nouvelles. September 13, 1997. Retrieved May 18, 2012. (In French.)
- ^ Benita D. Newton (September 26, 2003). "All-you-can-eat was too much". St. Petersburg Times Online. Retrieved April 11, 2012.
- ^ "Bar Harbor - Overview". Darden Concepts, Inc. Retrieved April 11, 2012.
- ^ Perla Trevizo (December 25, 2009). "Red Lobsters cook up fresher look". timesfreepress.com. Retrieved April 11, 2012.
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This article needs additional citations for verification. (April 2012) |
External links [edit]
- Official website
- Red Lobster's Canadian website
- Red Lobster's Japanese website
- Darden Restaurants, Inc. website
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