Bloomin's Turnaround Continues to Bear Fruit -- Market Talk

Dow Jones05-06

0955 ET - Bloomin' Brands' turnaround is bearing fruit, CEO Mike Spanos says on a call with analysts Wednesday. The restaurant operator has been taking steps to improve dining experiences, drive brand relevancy and remodel restaurants across its portfolio, particularly at its Outback Steakhouse banner. Outback's new steak lineup that launched last fall continues to perform well, and guest-improvement scores improved for the third consecutive quarter during the recent period, Spanos says. The company is also working to remodel nearly all of Outback's restaurants by the end of 2028, refreshing both interiors and exteriors and expecting to spend an average of $350,000 to $400,000 per location. "We will provide a more meaningful update on the progress of this turnaround initiative on our next earnings call," Spanos says. Shares gain 33%. (connor.hart@wsj.com)

(END) Dow Jones Newswires

May 06, 2026 09:55 ET (13:55 GMT)

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