Some seafood-focused restaurant chains in the U.S., such as Orlando, Florida, U.S.A.-based Red Lobster and several chains operated by Tampa, Florida, U.S.A.-based restaurant group Bloomin’ Brands, have struggled in recent quarters, but many others are expanding, signaling a mixed outlook for the industry amid economic uncertainty.
Revenues for Bloomin’ Brands, which operates Outback Steakhouse, Bonefish Grill, Carrabba’s Italian Grill, and Fleming’s Prime Steakhouse & Wine Bar, among other chains, fell 1.8 percent to nearly USD 1.05 billion (EUR 939 million) in the first quarter of 2025. The company attributed the drop to the net impact of restaurant closures and openings and a decrease in comparable restaurant sales.
The company’s restaurant-level operating margin also declined 1.5 percent year over year in the quarter due to lower restaurant sales, as well as higher operating, labor, and commodity costs primarily driven by inflation, the company said.
Q1 was just the latest in a line of difficult periods for Bloomin’ Brands, which laid off 100 corporate employees and reduced menus earlier this year.
At Bonefish Grill in particular, which realized a sales drop of 4 percent in the first quarter of the year, Bloomin’ Brands has instituted turnaround efforts, including a new menu. The new “Chef-Curated Selections” menu is a “complete culinary experience, designed by our chefs to deliver balance and a symphony of flavor,” the company said...
