Bloomin' Brands: Business Still Going Strong Despite Weak Same Store Sales In Q4 2023 [Seeking Alpha]
Bloomin' Brands, Inc. (BLMN)
Last bloomin' brands, inc. earnings: 2/18 07:00 am
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US:NASDAQ Investor Relations:
investors.bloominbrands.com/investor-relations
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Source: Seeking Alpha
The planned marketing spend should support market share gains for BLMN. The closure of underperforming stores should streamline cost structure. Summary Readers may find my previous coverage via this link . My previous rating was a buy, as I believed Bloomin' Brands, Inc. ( NASDAQ: BLMN ) should continue to do well despite the weak same-store-sales [SSS] growth seen in 3Q23. Despite the decline in share price, I thought the upside remained attractive. I am reiterating my rating that BLMN is a buy. While SSS performance was slightly soft, I think the outlook remains positive given the step-up in marketing spend, a possible macro recovery in 2025, and relative market share gains. I do expect margin to be diluted modestly in FY24, but I should see recovery in FY25 as top line recovers and operating leverage kicks in. Financials/Valuation BLMN reported its 4Q23 results a couple of weeks ago, on February 23, 2024. Total revenue grew 9.1% to $1.194 billion in 4Q23. Growth was prim
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BLMN
News
- Bloomin' Brands, Inc. to Host Fiscal 2024 First Quarter Earnings Conference Call at 8:00 AM EDT on May 7, 2024 [Yahoo! Finance]Yahoo! Finance
- Bloomin’ Brands, Inc. to Host Fiscal 2024 First Quarter Earnings Conference Call at 8:00 AM EDT on May 7, 2024Business Wire
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- Marco's Pizza® Boosts Its Marketing Team with Three Key Leadership Appointments [Yahoo! Finance]Yahoo! Finance
- Boy, 12, taken to hospital after he was mistakenly served alcohol at Outback Steakhouse [FOX Business Network]FOX Business Network
BLMN
Earnings
- 2/23/24 - Beat
BLMN
Sec Filings
- 4/25/24 - Form 4
- 4/25/24 - Form 4
- 4/25/24 - Form 4
- BLMN's page on the SEC website