Bloomin' Brands Closes 41 Older Outback Steakhouses, Plans 18 New Ones in '23 Growth Push
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Bloomin' Brands closed 41 "underperforming" restaurants across its chains like Outback Steakhouse, Carrabba's, and Bonefish Grill.
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Most of the closed locations were older Outback Steakhouses from the '90s and early 2000s.
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33 restaurants were closed last Friday; employees not transferred will receive severance.
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However, Outback plans to open 18 new restaurants in the US this year with a redesigned layout.
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Bloomin' stock rose 6%+ last week; the company plans up to 45 total new openings across brands in 2023.