Darden's shares fell 5% on Friday after the firm announced that Chief Executive Gene Lee will step down in May.

While keeping on as chairman, Gene will hand over the reins to the existing President and Chief Operating Officer Ricardo Cardenas. For the previous seven years, he served as CEO.

The restaurant business also accelerated its previous decision to raise salaries, which weighed on the shares. Darden's minimum hourly wage, including gratuities, will be $12 in January. According to Lee, the raise will result in an average hourly wage of $20.

File:Darden Restaurants.svg - Wikimedia Commons

The company's total sales increased 37 % year over year to $2.27 billion, owing to a combined same-restaurant sales rise of nearly 34 % and the net addition of 34 restaurants. Vaccinations encouraged individuals to leave their houses for dining and shopping, which helped the eateries.

Adjusted profit per share increased to $1.48, exceeding expectations, as did sales.

This gave the corporation the confidence to increase its guidance once more. The company now estimates yearly revenue of $9.55 billion to $9.70 billion, up from $9.4 billion to $9.6 billion in September.

At the midpoint of its guidance range, same-restaurant sales are expected to increase by 30%. In the fiscal year that ends on May 30, it plans to open between 35 and 40 eateries.