OSI posts $500M net loss in 4Q on charges

TAMPA Fla. Outback Steakhouse parent OSI Restaurant Partners LLC reported Monday a fourth-quarter net loss of $506.4 million on a 10-percent drop in corporate revenue and millions in asset impairment charges for reduced goodwill and closed restaurants.

OSI, which operates or franchises 1,491 restaurants, booked a net loss of $23.5 million in the fourth quarter a year earlier.

The casual-dining company, which operates the 978-unit Outback Steak

Register to view the full article

Register to view this article

Already a member? .

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish