First Watch will enter New England, Las Vegas as EBITDA nears $100M [Yahoo! Finance]
Bloomin' Brands, Inc. (BLMN)
Last bloomin' brands, inc. earnings: 2/18 07:00 am
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Source: Yahoo! Finance
The breakfast chain opened 51 new restaurants in 2023 and repurchased 23 franchised stores, which helped bolster revenue. It plans to enter the New England and Las Vegas metro markets. Despite its growing sales in 2023, First Watch wasn't immune to the overall slowdown in casual dining traffic that's dragged rivals Denny's and Dine Brands , with same-restaurant traffic down 1.3% in Q4. Q4 2023 was the third consecutive quarter marked by a year-over-year traffic decline, according to a presentation accompanying First Watch's earnings call. Dive Insight: While structural changes in consumer behavior have helped turn breakfast into a booming daypart , casual dining as a whole has had a rough few months. First Watch's traffic dip is linked to an anticipated slump in off-premise traffic, CFO Mel Hope said on the company's earnings call, though he didn't specify what caused the slowdown. The company expects flat or negative traffic through 2024, but anticipates same-restaurant sale
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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