Del Frisco’s Restaurant Group, Inc. Announces Additional Synergies and Cost Savings
DEL FRISCOS RESTAURANT (DFRG)
Last del friscos restaurant earnings: 8/6 07:00 am
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Source: GlobeNewswire
IRVING, Texas, May 16, 2019 (GLOBE NEWSWIRE) -- Del Frisco’s Restaurant Group, Inc. (“Del Frisco’s”) (NASDAQ: DFRG) today announced a reduction in force (“RIF”) that is expected to generate significant pre-tax general and administrative cost savings of approximately $3.0 million in 2019 and $5 million on an annualized run-rate basis. This brings the total expected synergies from the Barteca acquisition and other cost savings to approximately $15 million. Norman Abdallah, Chief Executive Officer of Del Frisco's, said, “We have identified additional synergy opportunities to enhance our efficiencies and streamline our teams now that we have moved past our recent development ‘peak’ of 15 restaurant openings in the space of 10 months. We have now opened six of our planned eight restaurant openings for 2019 and, with the Barcelona and bartaco integration nearly complete and new IT systems now in place ahead of our original schedule, we are making necessary adjustments to move forward in
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