Bloomin' Brands Inc. has announced a turnaround strategy focused primarily on the Outback Steakhouse brand. The company plans to reallocate available free cash flow into strategic investments within its core business and debt reduction, leading to a suspension of its dividend. Key elements of the strategy include enhancing the dine-in experience through operational improvements in food quality and service, expanding brand reach to attract new guests and increase visit frequency, reinvesting in employees to strengthen company culture, and updating existing restaurant assets to align with brand standards. Additionally, the company will seek cost savings through non-guest facing productivity initiatives, such as optimizing indirect spending and contract negotiations. The overall objective is to achieve long-term, sustainable, and profitable growth.