TAMPA, Fla.--(BUSINESS WIRE)--Oct. 22, 2018--
Bloomin' Brands, Inc. (NASDAQ:BLMN) today responded to a letter from
Barington Capital Group, L.P.
The Company notes that it regularly engages with shareholders on a wide
range of matters to advance the common goal of enhancing shareholder
value. Consistent with this philosophy, since March 2017, the Company
has had seven discussions with Barington to better understand its views
and suggestions. The Company looks forward to sharing its third quarter
results next week and engaging with shareholders following the
Liz Smith, Chairman of the Board and Chief Executive Officer, stated,
“We are making great progress in elevating the total customer experience
by investing in food quality, service, and ambience. As a result, over
the last three reported quarters, we have achieved an increase in sales
and market share. We have also taken actions to reduce overhead and
reinvest those savings to improve our digital and IT infrastructure, as
well as to enhance our growing off-premise business.”
Jim Craigie, Lead Independent Director of the Board, stated, “The
Bloomin' Brands Board of Directors is actively engaged in overseeing the
strategy of the Company. We fully support the management team and its
successful ongoing efforts. The Company welcomes shareholder dialogue
and any constructive input that may advance our goal of delivering
superior returns for investors.”
As previously announced, the Company will release results for the fiscal
third quarter ended September 30, 2018, on Monday, October 29, 2018, at
approximately 7:00 AM EDT, which will be followed by a conference call
to review its financial results at 9:00 AM EDT the same day.
To access the live call, dial (877) 407-9039, or (201) 689-8470 for
international participants. A replay will be available beginning two
hours after the call and can be accessed by dialing (844) 512-2921 or
(412) 317-6671 for international callers. The replay will be available
until Monday, November 5, 2018. The conference ID for the live call and
replay is 13683855.
The call will also be webcast live from the Company's website at http://www.bloominbrands.com under
the Investors section.
About Bloomin' Brands, Inc.
Bloomin' Brands, Inc. is one of the largest casual dining restaurant
companies in the world with a portfolio of leading, differentiated
restaurant concepts. The Company has four founder-inspired brands:
Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill and
Fleming'sPrime Steakhouse and Wine Bar. The Company owns and operates
approximately 1,500 restaurants in 48 states, Puerto Rico, Guam and 19
countries, some of which are franchise locations. For more information,
please visit bloominbrands.com.
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Source: Bloomin' Brands, Inc.
Bloomin' Brands, Inc.
Cathie Koch, (813) 830-5127
President, Corporate Communications