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Bloomin' Brands, Inc., trading under the symbol BLMN, is a renowned player in the casual dining restaurant sector. Established in 1988 in Tampa, Florida, the company has grown from its humble beginnings to become a global powerhouse, recognized for its distinctive dining experiences and commitment to customer satisfaction.
The company's portfolio boasts a variety of well-known restaurant brands including Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. These brands are celebrated for their unique themes and high-quality food and service. Outback Steakhouse, for example, is famed for its Australian-themed ambiance and its slogan 'No rules, just right', which underscores the company's dedication to customer enjoyment.
Bloomin' Brands operates a mix of company-owned and franchised restaurants. In the United States, where it derives the majority of its revenue, the company owns and operates most of its restaurants. Internationally, Bloomin' Brands has a significant presence in countries like Brazil and South Korea with company-owned Outback and Carrabba's locations. Additionally, the company has franchised operations across various countries, particularly in Asia.
Financially, Bloomin' Brands manages its operations through two reportable segments: U.S. and International. This segmentation helps streamline operations and focus resources effectively across different markets. The international segment includes all restaurants outside the U.S., ensuring a tailored approach to each region's market dynamics and consumer preferences.
Recent achievements for Bloomin' Brands include expanding its footprint globally and innovating its menu offerings to meet evolving customer tastes. The company continues to prioritize quality and service excellence, reinforcing its commitment to providing memorable dining experiences.
For investors and potential stakeholders, Bloomin' Brands represents a solid investment opportunity given its robust brand portfolio, strategic international presence, and consistent focus on operational excellence.
Bloomin’ Brands, Inc. (Nasdaq: BLMN) is set to announce its fiscal second-quarter results for the period ending June 27, 2021, on July 30, 2021, at approximately 7:00 AM EDT. This will be followed by a conference call scheduled at 8:30 AM EDT to discuss the financial outcomes. Stakeholders can access the live webcast on the Company’s website, with a replay available post-call. As a leading casual dining powerhouse, Bloomin’ Brands operates over 1,450 restaurants globally, showcasing its strong market presence.
Bloomin’ Brands, Inc. (Nasdaq:BLMN) has promoted Mark Graff to Senior Vice President of Business Development and Financial Planning. In this new role, Graff will oversee the business development team and maintain his financial planning responsibilities, while also joining the Executive Leadership Team. Graff has been with the company for nine years in various finance and investor relations roles. CEO David Deno emphasized that Graff will help capitalize on new growth opportunities discovered in the past 15 months.
Bloomin’ Brands, Inc. (Nasdaq:BLMN) has promoted Danielle Vona to Senior Vice President and Chief Marketing Officer. Vona, who was previously CMO for Outback Steakhouse, will join the Executive Leadership Team and oversee comprehensive marketing strategies, including brand marketing and consumer insights. With a background in senior marketing roles at PepsiCo and Sonic, her digital marketing expertise is expected to enhance the company's marketing approach. CEO David Deno emphasized Vona's role in evolving their marketing strategy.
Bloomin’ Brands (Nasdaq: BLMN) announced its Q1 2021 results, showing a diluted EPS of $0.63, a significant improvement from a loss of $0.44 in Q1 2020. Total revenues decreased by 2.1% to $987.5 million, primarily due to lower international sales and restaurant closures. However, U.S. comparable restaurant sales rose by 12.6% in the first four weeks of Q2 2021 compared to 2019. The company has successfully refinanced its credit facility and issued new senior notes, evidencing positive cash flow and operational improvements.
Bloomin’ Brands (NASDAQ: BLMN) has appointed Lissette Gonzalez as Senior Vice President of Supply Chain. CEO David Deno praised her seven years of service, highlighting her expertise in planning, forecasting, and global procurement. Gonzalez, who previously served as Vice President of Global Procurement, improved supply forecasting, resulting in significant cost savings and enhanced productivity. With a background at Office Depot and advanced degrees in engineering, she is set to join the Executive Leadership Team, contributing her strategic relationships with suppliers.
Bloomin’ Brands, Inc. (Nasdaq: BLMN) will announce its fiscal Q1 results for the period ending March 28, 2021, on April 29, 2021, at 7:00 AM EDT. Following the results, a conference call will take place at 8:30 AM EDT, accessible via the Company’s website. As a leading casual dining restaurant operator, Bloomin’ Brands manages over 1,450 locations across various regions, including four primary brands: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse.
Bloomin’ Brands, Inc. (Nasdaq: BLMN) announced the pricing of its $300 million offering of 5.125% senior unsecured notes due 2029 on April 6, 2021. The notes will be issued jointly with OSI Restaurant Partners, LLC, and will mature on April 15, 2029. Interest will be payable semi-annually starting October 15, 2021. The proceeds will be used for repaying outstanding borrowings and related expenses. The issuance depends on the closing of new senior secured credit facilities, which are still in the process of being finalized.
Bloomin’ Brands, Inc. (Nasdaq: BLMN) plans to offer $300.0 million in senior unsecured notes due 2029 to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The funds will be used to repay outstanding borrowings from existing senior secured credit facilities and cover offering fees. The offering's success depends on closing new senior secured credit facilities, which are yet to be finalized. The notes will not be registered under the Securities Act, prohibiting their sale in the U.S. without exemption.
Bloomin’ Brands (Nasdaq:BLMN) has appointed Lori Malcolm as Senior Vice President of Human Resources. She will oversee talent management and HR operations for its Casual Dining Portfolio, which includes Outback Steakhouse and Carrabba’s. CEO David Deno emphasized her expertise in fostering high-performance cultures, crucial for adapting to a rapidly changing environment. Malcolm previously held a key role at United Way Worldwide, enhancing operations across 1,800 locations globally. Her extensive HR experience spans nearly 25 years, including leadership positions at notable restaurant chains.
Bloomin’ Brands, Inc. (BLMN) reported a challenging Q4 2020 with total revenues declining by 20.5% to $812.5 million compared to Q4 2019, primarily due to the impact of COVID-19. The company experienced a diluted loss per share of $(0.16) versus $0.32 in 2019. Comparable U.S. restaurant sales fell by (17.7)%, with a notably worse performance from Bonefish Grill and Fleming’s, down (27.1)% and (29.7)% respectively. Despite this, liquidity improved to $675 million, with nearly 99% of locations open as of February 2021, and ongoing initiatives aim for $40 million in cost savings over two years.
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