Outback Steakhouse owner considering sale

Bloomin' Brands is considering putting itself up for sale

Doug Smith posted in Meat
2y ago

Bloomin’ Brands, the parent company of Outback Steakhouse based in Tampa, Florida, announced it is considering putting itself up for sale.

This announcement came as part of the company's third quarter review. The company stated it is: “Exploring and evaluating strategic alternatives that have the potential to maximize value for our shareholders, including but not limited to, a possible sale of the company.”

Bloomin’ said it would proceed in a “timely manner,” but has not set a timetable. There is also no guarantee the company will be sold or make any other change. Bloomin’ won’t share any further public comment on the matter until needed.

Adjusted EPS was 10 cents, which matched expectations. Revenue of $967.1 million was higher than last year’s $965 million figure.

Outback Steakhouse has 727 domestic locations as of June 30 (579 company run) — down one store from September 29. Q3 traffic declined 1.1 percent compared to 0.9 percent growth last year.

As well as the Aussie-themed steakhouse chain, Bloomin' Brands owns Bonefish Grill, Carrabba's Italian Grill and Fleming's Prime Steakhouse & Wine Bar.

Overall, the company has around 93,000 employees across more than 1,450 sites.

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Comments (5)

  • The 90s called they want their restaurant back...i never understood how this one has survived...yes its beef, but there are better places for a steak IMO

      2 years ago
    • You are right - it's amazing it lasted this long. While they try to come up with new items on their menu, they did little to change their look. I was in one about 5 years ago and it was a depressing atmosphere.

        2 years ago
  • As long as the new parent company opens up some more Canadian locations, I'm sold

      2 years ago
  • Where do I sign? I give so much money to outback it is not even funny. If they need more bussiness they need to up their food quality or lower the price.

      2 years ago
  • So the food will go from so/so to🤢

      2 years ago