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Stock impact report

Parent company of casual dining chain closes 21 restaurants in cost-saving move [Yahoo! Finance]

Bloomin' Brands, Inc. (BLMN) 
Last bloomin' brands, inc. earnings: 2/18 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
leases for another 22 over the next four years, as part of a broader turnaround strategy focused on strengthening the brand, according to its 2025 Q3 Financial Results The closures, completed in October, generated $33.2 million in asset impairment and net closure charges in the third quarter, with an additional $5 million to $7 million expected in severance and closure costs during Q4 2025, the third-quarter report says. CEO Mike Spanos said the company is reallocating free cash flow toward restaurant improvements and debt reduction. The dividend has been suspended to support these efforts. Bloomin' Brands owns and operates Outback, Carrabba's Italian Grill, Bonefish Grill and Fleming's, according to its website “All four brands drove positive comparable store sales growth for the first time since Q1 2023,” Spanos said in the report. “Our teams continue to focus on consistency of execution in food quality and the guest experience, the foundation for our turnaround.” Accordin Show less Read more
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