by Bloomin’ Brands, the parent company behind Outback Steakhouse, Carrabba’s Italian Grill, and Bonefish Grill, has announced additional restaurant closures as part of its ongoing effort to strengthen operations and boost profitability.
Dozens of U.S. Restaurants to Close
According to a company news release issued Thursday, November 6, Bloomin’ Brands has already closed 21 U.S. restaurants during the three-month period ending September 28 and plans to not renew the leases of 22 more, most of which will close over the next four years.
The closures include multiple Outback Steakhouse, Bonefish Grill, and Carrabba’s Italian Grill locations, CEO Mike Spanos said during a conference call with investors.
In October, several Outback Steakhouse restaurants were shuttered across the country — including at least two in Florida. Those followed a larger wave of closures in February 2024, when 41 restaurants were permanently closed, most of them Outback locations.
“We have great momentum in our business as demonstrated by our third quarter results,” Spanos said.
Outback Steakhouse at the Core of the Turnaround Strategy
While Bloomin’ Brands owns multiple casual dining chains, its turnaround strategy is heavily focused on revitalizing Outback Steakhouse — its flagship brand. The company has been testing new approaches aimed at improving steak quality, simplifying menus, and enhancing the guest experience to stay competitive in the dining sector.
Despite recent closures, early signs show progress. Bloomin’ Brands reported comparable sales growth of 1.2% across its brands in the latest quarter, a rebound from a 0.1% decline in the previous period. At Outback Steakhouse specifically, comparable sales rose 0.4% and traffic remained stable, signaling modest recovery.
“We plan to use our test environments to continue to refine and test new ideas,” Spanos explained. “Our focus this past year on our operational priorities is translating into improved guest metrics and sales and traffic gains.”
To reclaim Outback’s reputation, Spanos said the company is emphasizing “steak excellence” as a core brand identity.
“Simply put, we are getting back to our roots of serious food and a focus on steak. We are first and foremost a steakhouse.”
Bloomin’ Brands Portfolio and Reach
Founded in 1988 with the first Outback Steakhouse in Tampa, Florida, Bloomin’ Brands now operates over 1,450 restaurants worldwide. That includes:
- 678 Outback Steakhouse locations in the U.S.
- Over 200 Carrabba’s Italian Grill restaurants
- 166 Bonefish Grill restaurants
- 65 Fleming’s Prime Steakhouse & Wine Bar locations
Internationally, the company runs more than 350 restaurants, primarily in Brazil and South Korea.
As Bloomin’ Brands pushes forward with its turnaround strategy, it remains to be seen whether the closures will pave the way for long-term stability — or signal deeper challenges for casual dining chains navigating shifting consumer trends.
What do you think about Bloomin’ Brands’ decision to close more Outback Steakhouse locations? Share your thoughts and join the discussion now at mikeandjonpodcast.com.
