The exterior of an Outback Steakhouse restaurant in Daly City, Calif. Justin Sullivan/Getty Images
Bloomin’ Brands Inc. announced in its quarterly earnings report published on Nov. 6 that it shuttered 21 Outback Steakhouse locations in October and declined to renew the leases on 22 others in the wake of sagging same-store sales.
Bloomin’ Brands, which also owns Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar, reported a net loss of $45.8 million for the 13-week period ended Sept. 28 after taking a $33.2 million impairment charge related to the restaurant closures.
