"Fans of the Outback Steakhouse chain will be disappointed to learn that its parent company, Bloomin' Brands, has recently closed a number of locations. The closures are yet another sign that major restaurant chains are facing significant headwinds as costs increase and consumers grow increasingly cautious of how they spend their discretionary dollars. Here's what you need to know. What's happened?"
"According to an August Form 10-Q filing with the U.S. Securities and Exchange Commission (SEC), as of June 2025, Bloomin' Brands, Inc. operated 557 company-owned Outback Steakhouse locations in the United States. There were also an additional 121 franchise locations. Bloomin' Brands is in the midst of a turnaround effort. Its stock price (Nasdaq: BLMN) has tumbled more than 42% this year and was trading at under $7 a share as of late Friday."
Bloomin' Brands recently closed a number of Outback Steakhouse locations, with the company confirming 10 closures across eight states. Several closures were first reported on social media and local news outlets. As of June 2025, the company operated 557 company-owned Outback locations in the U.S. and 121 franchise locations, with presence in 44 states; Florida leads with 96 locations. Outback was founded in 1988 and is known for the Bloomin' Onion menu item. The parent company's stock has fallen over 42% this year amid a corporate turnaround and industrywide pressure from rising costs and cautious consumer spending.
Read at Fast Company
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