Tampa-based Bloomin Brands announced on Friday that it is shutting down 41 poor performance locations in it’s brands, including Italian Grill, Bonfish Grill and Fleming, Carabba
. Bloomin Brands owns and operates over 700 restaurants across the country. Blumin’s signature restaurant, the outback steakhouse will have to suffer the bruise of closing. The company did not release the list of closed restaurants; however, locations in Pennsylvania and Iowa and each outback restaurant in Hawaii have recently closed.
Bonefish grill places also closed in New Jersey and Virginia, and at least three New York Carrabba locations closed. Bloomin said it closed places due to different factors, which include sales, decreasing customer traffic and financial investments which were very expensive to improve places.
Plus, according to BlooMin’s CEO David Deno, most of these restaurants were old assets leased by the 90s and the early 2000s. ” In the fourth quarter in the outback, sales fell by 0.3%, and in Bonefish, which fell by 3%.
Carrabba was a bright spot, where the same-shop sales grew 2.5%. Bloomin’s stock price rose by over 6% over the past five days, up from $28 at a time. Despite the close of its and the company’s recent round, Blumin Brands have planned to open 45 new restaurants in the US this year.
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