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Bloomin' Brands, Inc., trading under the symbol BLMN, is a renowned player in the casual dining restaurant sector. Established in 1988 in Tampa, Florida, the company has grown from its humble beginnings to become a global powerhouse, recognized for its distinctive dining experiences and commitment to customer satisfaction.
The company's portfolio boasts a variety of well-known restaurant brands including Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. These brands are celebrated for their unique themes and high-quality food and service. Outback Steakhouse, for example, is famed for its Australian-themed ambiance and its slogan 'No rules, just right', which underscores the company's dedication to customer enjoyment.
Bloomin' Brands operates a mix of company-owned and franchised restaurants. In the United States, where it derives the majority of its revenue, the company owns and operates most of its restaurants. Internationally, Bloomin' Brands has a significant presence in countries like Brazil and South Korea with company-owned Outback and Carrabba's locations. Additionally, the company has franchised operations across various countries, particularly in Asia.
Financially, Bloomin' Brands manages its operations through two reportable segments: U.S. and International. This segmentation helps streamline operations and focus resources effectively across different markets. The international segment includes all restaurants outside the U.S., ensuring a tailored approach to each region's market dynamics and consumer preferences.
Recent achievements for Bloomin' Brands include expanding its footprint globally and innovating its menu offerings to meet evolving customer tastes. The company continues to prioritize quality and service excellence, reinforcing its commitment to providing memorable dining experiences.
For investors and potential stakeholders, Bloomin' Brands represents a solid investment opportunity given its robust brand portfolio, strategic international presence, and consistent focus on operational excellence.
Bloomin' Brands, Inc. (Nasdaq: BLMN) has announced its plans to release fiscal 2024 second quarter financial results on Tuesday, August 6, 2024, at approximately 7:00 AM EDT. The company will host a conference call to discuss these results at 8:15 AM EDT on the same day. Investors and interested parties can access the live webcast of the call through the Investors section of the company's website at http://www.bloominbrands.com. For those unable to attend the live call, a replay of the webcast will be made available on the company's website following the event.
Bloomin’ Brands, Inc. (NASDAQ: BLMN) announced that CEO David Deno will be retiring after 12 years with the company, including the last five years as CEO. The Board of Directors is leading the search for his successor, emphasizing Deno's financial achievements during his tenure amidst the challenges of COVID-19, especially in Brazil. Deno will continue in his role until a successor is named.
Bloomin' Brands, Inc. reported Q1 2024 financial results with a diluted EPS of $(0.96) and adjusted diluted EPS of $0.70. The company retired $83.6M of convertible notes. Total revenues decreased by 4.0% due to lower comparable restaurant sales and impacts of restaurant closures. The GAAP operating income margin declined to 6.4% from 9.7% in Q1 2023. The company made strategic moves with dividend declaration, share repurchases, and a 2025 notes retirement. They also closed underperforming restaurants under the 2023 Closure Initiative. The fiscal outlook shows commodity inflation reduced to 2-3% and a shift in effective tax rates. The Company is reviewing strategic alternatives for its Brazil operations to maximize shareholder value.
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