Positive Comp Sales at Carrabba's and Fleming's
Carrabba's and Fleming's restaurants experienced positive comparable sales in Q1, indicating some resilience in parts of the portfolio.
Menu Simplification and Cost Savings
Bloomin' Brands made notable progress in reducing menu items across its restaurants, aiming for a 10-20% reduction by the end of 2025. This is part of a broader cost-saving initiative that achieved more savings in Q1 than originally forecasted.
Ziosk Technology Implementation
The rollout of Ziosk tablets across Outback restaurants led to increased table turns by about five minutes and positive guest feedback, enhancing operational efficiency.
Ample Liquidity and Cash Flow
The company reported ample liquidity and healthy cash flow, with strategic use of proceeds from the Brazil transaction to reduce debt.