Bloomin' Brands Inc

NASDAQ:BLMNUnited States

Yesterday

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• DJ Bloomin' Brands' New CEO Calls Out Two Untapped Areas for Growth -- Market Talk, from 16 hours ago by Dow Jones

  16 hours ago by Dow Jones
  Companies Mentioned: BLMN
  
  1352 ET - In his first quarterly report since he became CEO, Bloomin' Brands' Mike Spanos says his initial evaluation of the company's portfolio revealed two primary, scalable areas for growth. The first is Outback Steakhouse, which is currently experiencing falling same-store sales and traffic, and losing share in the steak category. The company aims to turn around these trends by improving the guest experience, simplifying menus and rethinking positioning, he says on a call with analysts. The second is Carrabba's, which Spanos says is posting steady traffic and same-store sales but will look to find white spaces, or areas in which it can expand existing operations to increase sales. Bloomin' will share a "meaningful update" on its growth strategy on its February earnings call after completing planning efforts later this year, he adds. (connor.hart@wsj.com)
  

• DJ Bloomin' Brands Says Company Will Be More Focused After Brazil Deal -- Market Talk, from 17 hours ago by Dow Jones

  17 hours ago by Dow Jones
  Companies Mentioned: BLMN
  
  1347 ET - Bloomin' Brands will sell 67% of its Brazil operations to a locally-based investment firm for 1.4 billion Brazilian reais ($245.9 million), allowing the owner of Outback Steakhouse and Carrabba's to simplify and focus on its domestic operations, CEO Mike Spanos says on a call with analysts. The company will receive 52% of the proceeds upon closing, expected to occur before the end of the year, and the remaining 48% one year later. CFO Mike Healy says Bloomin' will provide details on the use of those proceeds during the company's February earnings call, after completing strategic planning efforts. Under the terms of the sale, the company will have the option to monetize its remaining 33% stake in 2028, he adds. Shares tumble 11% after company cuts its FY24 outlook. (connor.hart@wsj.com)
  

• Bloomin' Brands Cuts 2024 Earnings View as Weak Traffic Weighs on Third-Quarter Results, from 21 hours ago by MT Newswires

  21 hours ago by MT Newswires
  Companies Mentioned: BLMN
  09:33 AM EST, 11/08/2024 (MT Newswires) -- Bloomin' Brands (BLMN) on Friday lowered its 2024 earnings outlook as the Outback Steakhouse parent's third-quarter profit nearly halved year over year amid soft traffic trends. The casual dining company an...

• Sector Update: Consumer Stocks Higher Pre-Bell Friday, from 21 hours ago by MT Newswires

  21 hours ago by MT Newswires
  Companies Mentioned: XLP, XLY, BLMN, DKNG, ABNB
  09:10 AM EST, 11/08/2024 (MT Newswires) -- Consumer stocks were higher pre-bell Friday as the Consumer Staples Select Sector SPDR Fund (XLP) was 0.2% higher and the Consumer Discretionary Select Sector SPDR Fund (XLY) was recently up 0.1%. Airbnb (A...

• Bloomin' Brands Re-Franchises Brazil Operations, from 22 hours ago by MT Newswires

  22 hours ago by MT Newswires
  Companies Mentioned: BLMN
  08:47 AM EST, 11/08/2024 (MT Newswires) -- Bloomin' Brands (BLMN) said Friday it signed a deal to sell 67% of its Brazil operations for 1.4 billion Brazilian real ($243.2 million) to Vinci Partners. The re-franchise move includes an ongoing royalty ...