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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (4956)	7/31/2018 8:59:50 AM
From: richardred	Read Replies (2) \| Respond to of 7243

RE-BLMN Speculation -Competitor TXRH Texas Roadhouse taking a haircut today . I found it interesting on Twitter social media. Outback has a 3 to 1 advantage in followers over Texas Roadhouse & Darden's Longhorn Stakehouse. Bloomin' Brands is betting big on Outback Steakhouse, with plans for 50 new locations Enlarge Bloomin' Brands operates Outback Steakhouse. By Ashley Gurbal Kritzer – Senior Reporter, Tampa Bay Business Journal Jul 30, 2018, 3:03pm EDT Updated Jul 30, 2018, 3:21pm Bloomin' Brands Inc. is doubling down on the investments it's made in Outback Steakhouse, with plans to open 50 new locations. Tampa-based Bloomin' operates restaurant brands Outback, Carrabba's Italian Grill, Bonefish Grill and Fleming's Prime Steakhouse and Wine Bar. Outback has been a consistent bright spot for Bloomin'; on Monday, Bloomin' reported its second quarter results, including Outback's fourth consecutive quarter of positive traffic. The company is also planning to relocate 14 Outback stores. Recent relocations, Smith said, have seen a sales boost of more than 30 percent when the new store opens. Smith didn't say whether the new Outback locations would mirror the company's traditional restaurants, include its new carryout-only prototype or strike a balance between the two. Bloomin's plan to open dozens of new restaurants comes at a time when prime restaurant properties are difficult to come by and rents are approaching pre-recession peaks. Same-store sales at Outback were up 4 percent in the second quarter versus the same time period last year. Traffic was up .6 percent. "These results came despite a 14 percent reduction in overall marketing spend within the quarter," Bloomin' CEO Liz Smith said on the earnings call. "It is clear that the investments we have made to elevate the customer experience are driving healthy sales growth." Bloomin's investments include remodeled interiors, steak preparation and portion sizing and streamlining its preparation. As a result, Smith said, Outback is in a "very strong place." "We absolutely believe we will have good comps on Outback and certainly positive traffic on Outback," she said. "So, hopefully, that gives you a sense of our confidence in the business and our confidence that the story of Outback won’t be written on a quarterly basis." bizjournals.com