Tampa, Florida, U.S.A.-based restaurant firm Bloomin’ Brands, which operates Outback Steakhouse, Bonefish Grill, and other restaurant chains, suffered from low revenue and decreased foot traffic at most of its restaurants during the third quarter of 2024.
The operator of more than 1,450 restaurants reported a 3.8 percent year-over-year drop in revenues in its Q3 2024 earnings report, bringing in around USD 1.4 billion (EUR 1.3 billion) in the period. The firm attributed the decline to lower comparable restaurant sales and the net impact of restaurant closures and openings, among other obstacles.
Bonefish Grill particularly suffered in the quarter, with its comparable restaurant sales dropping 4.1 percent and foot traffic to its restaurants dropping 10 percent in July 2024 compared to July 2023, according to data from customer data firm Placer.ai.
Comparable store sales declined …
