Sam Amico
It’s been a great run for Outback Steakhouse, but the end may be near.
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At the very least, it appears to be on its last legs — as parent company Bloomin’ Brands Inc. announced it is closing 41 restaurants in all. The list also includes Bonefish Grill, Carrabba’s Italian Grill and Fleming’s Prime Steakhouse & Wine Bar.
“Closing restaurants is never easy. This was a business decision that has no reflection on the staff or their service. Many team members will have the opportunity to transfer to open positions at another restaurant. Employees who do not will receive severance,” Bloomin’ Brands said in an emailed statement to USA TODAY.
“We periodically review our asset base and, in our latest review, we made the decision to close 41 underperforming locations,” said David Deno, CEO of Bloomin’ Brands who made the announcement about the closures during an earnings call on Friday Feb. 23, according to Nation’s Restaurant News. “The majority of these restaurants were older assets with leases from the ’90s and early 2000s.”
Outback is based in Tampa, Florida, and has made its name as being an Australian-themed steakhouse. The first one opened in Tampa in 1988 and it began to soar nationally in the early 1990s. It then took its act to Canada in 1996.
“Sales in the fourth quarter at Outback struggled, sliding 0.3%, as well as at Bonefish, which fell 3%. Carrabba’s was actually a bright spot, with same-store sales up 2.5%,” CNN Business wrote. “The stock price for Bloomin’ rose more than 6% in the past five days, topping $28 at one point.”
