Story perspectives

Bloomin’ Brands Reports Revenue Rise Amid Losses and Closures

11/6/2025

Summary

Story summary

Bloomin’ Brands reported a 2.1% revenue increase to $928.8 million for Q3 2025, despite a diluted loss per share of $(0.54).
The company closed 21 restaurants and will not renew leases for 22 others, resulting in $33.2 million in impairment charges.
CEO Mike Spanos highlighted a turnaround strategy aimed at improving customer experience and operational consistency.
The company anticipates U.S. comparable restaurant sales growth of 0% to 0.5% for fiscal 2025 and plans to open 19 new company-owned and 24 franchised restaurants.
Following the earnings report, shares fell 7.4%.

History

Historical Context

Founded in 1988 in Tampa, Florida, Bloomin' Brands, originally Multi-Venture Partners, Inc., grew rapidly, going public in 1991. By 2020, the COVID-19 pandemic led to a 29% revenue decline, prompting the closure of 71 restaurants. As CEO Mike Spanos implements a turnaround strategy, the company focuses on operational consistency and customer experience to navigate ongoing market challenges and potential recovery in the restaurant sector.

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Story summary

Bloomin’ Brands reported a 2.1% revenue increase to $928.8 million for Q3 2025, despite a diluted loss per share of $(0.54).
The company closed 21 restaurants and will not renew leases for 22 others, resulting in $33.2 million in impairment charges.
CEO Mike Spanos highlighted a turnaround strategy aimed at improving customer experience and operational consistency.
The company anticipates U.S. comparable restaurant sales growth of 0% to 0.5% for fiscal 2025 and plans to open 19 new company-owned and 24 franchised restaurants.
Following the earnings report, shares fell 7.4%.

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