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Stock impact report

Struggling seafood chain keeps closing restaurants, only 18 left [Yahoo! Finance]

Bloomin' Brands, Inc. (BLMN) 
Last bloomin' brands, inc. earnings: 2/18 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
Affordable seafood has been a challenge for restaurants. Red Lobster fell into bankruptcy partly because it offered an all-you-can-eat shrimp promotion. Shrimp is an expensive protein, and people can eat a lot of it. That promotion, which was only one factor in Red Lobster's eventual Chapter 11 bankruptcy filing, cost the company $11 million. The challenge with offering affordable seafood is that seafood just isn't cheap. In theory, you can lure people in with shrimp, lobster, and crab leg deals, hoping to sell them high-margin drinks or desserts, but historically, that hasn't worked all that well. Joe's Crab Shack, which is owned By Landry's Restaurants Group, used to have nearly 150 restaurants nationwide. That number has dwindled to under 20 with a number of recent closures. This has cast real doubt on the chances Landry's will keep operating the concept, or switch locations to other brands it owns. Recent Joe's Crab Shack closures San Diego, CA : The waterfront locati Show less Read more
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