Bloomin’ Brands Inc.’s profit slipped 15 percent in the March 30-ended first quarter compared with the prior-year period.
The Tampa, Fla.-based casual-dining company said same-store sales at its core domestic concepts were flat, and traffic declined 1.7 percent because of unfavorable winter weather and a shift in holiday timing.
Bloomin’ has 1,500 restaurants in 48 states, as well as two U.S. territories and 21 other nations. Core concepts include 976 Outback Steakhouse units, 241 Carrabba's Italian Grill locations, 197 Bonefish Grill restaurants and 66 Fleming's Prime Steakhouse and Wine Bar units. It also owns 20 Roy's Hawaiian Fusion Cuisine restaurants.
1Q NET INCOME
Result: $53.7 million, or 42 cents per share% Decrease: 15% (from $63.2 million, or 52 cents per share)
1Q REVENUE
Result: $1.16 billion% Increase: 6% (from $1.09 billion)
1Q SAME-STORE SALES
% Increase at Outback Steakhouse: 0.8%
% Decrease at Carrabba’s Italian Grill: 1.8%
% Decrease at Bonefish Grill: 1.5%
% Increase at Fleming's Prime Steakhouse: 1.7%
Source: Company report
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