Bloomin' Brands' New CEO Calls Out Two Untapped Areas for Growth -- Market Talk

Dow Jones

2024/11/09

1352 ET - In his first quarterly report since he became CEO, Bloomin' Brands' Mike Spanos says his initial evaluation of the company's portfolio revealed two primary, scalable areas for growth. The first is Outback Steakhouse, which is currently experiencing falling same-store sales and traffic, and losing share in the steak category. The company aims to turn around these trends by improving the guest experience, simplifying menus and rethinking positioning, he says on a call with analysts. The second is Carrabba's, which Spanos says is posting steady traffic and same-store sales but will look to find white spaces, or areas in which it can expand existing operations to increase sales. Bloomin' will share a "meaningful update" on its growth strategy on its February earnings call after completing planning efforts later this year, he adds. (connor.hart@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 13:52 ET (18:52 GMT)

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The first is Outback Steakhouse, which is currently experiencing falling same-store sales and traffic, and losing share in the steak category. The company aims to turn around these trends by improving the guest experience, simplifying menus and rethinking positioning, he says on a call with analysts. The second is Carrabba's, which Spanos says is posting steady traffic and same-store sales but will look to find white spaces, or areas in which it can expand existing operations to increase sales. Bloomin' will share a \"meaningful update\" on its growth strategy on its February earnings call after completing planning efforts later this year, he adds. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4209":"餐馆","BLMN":"Bloomin' Brands"},"translate_title":"Bloomin'Brands'新任首席执行官指出了两个未开发的增长领域——市场谈话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BLMN":1},"content_text":"1352 ET - In his first quarterly report since he became CEO, Bloomin' Brands' Mike Spanos says his initial evaluation of the company's portfolio revealed two primary, scalable areas for growth. The first is Outback Steakhouse, which is currently experiencing falling same-store sales and traffic, and losing share in the steak category. The company aims to turn around these trends by improving the guest experience, simplifying menus and rethinking positioning, he says on a call with analysts. The second is Carrabba's, which Spanos says is posting steady traffic and same-store sales but will look to find white spaces, or areas in which it can expand existing operations to increase sales. Bloomin' will share a \"meaningful update\" on its growth strategy on its February earnings call after completing planning efforts later this year, he adds. (connor.hart@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  November 08, 2024 13:52 ET (18:52 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}