1211 ET - Bloomin' Brands reports a 5% drop in traffic across its portfolio of restaurants, including a 4.7% drop at Outback Steakhouse, as the casual-dining sector continues to suffer from a pullback in consumer spending. Traffic at Bonefish Grill, a higher-end Bloomin' chain, was down 8.7%. U.S. comparable sales were down 1.1% overall and 1.8% at Outback alone, which seems to be relatively in line with the rest of the casual-dining segment except for Chili's, the Brinker International-owned chain that has been outperforming, Raymond James analyst Brian Vaccaro says in a research note. Bloomin' shares fall 17% to a four-year low of $9.63. (dean.seal@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 12:11 ET (17:11 GMT)
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