Tag

Casual Dining

All articles tagged with #casual dining

business27 days ago•13 min saved

Outback Shrinks Footprint to Double down on Stronger Locations

Outback Steakhouse, a 38-year-old chain owned by Bloomin’ Brands, closed 21 underperforming restaurants and will not renew leases on 22 more as part of a turnaround to redeploy resources to healthier units, sharpen value, and improve execution. The move comes amid competition from Texas Roadhouse and LongHorn and follows earlier closures in 2025; management says the overhaul has already boosted guest scores and brand trust in Q1, though the casual-dining sector overall remains challenged by inflation and softer traffic.

via Yahoo Finance|

#bloomin-brands #business #casual-dining

business3 months ago•3 min saved

Texas Roadhouse Offers Cheaper Prime Rib Than Outback

Texas Roadhouse provides the cheaper 12-ounce prime rib (about $25, location-dependent) compared with Outback’s 12-ounce option (just under $30); both offer larger cuts and weekend prime rib options, with differences in preparation and sides.

via Mashed|

#business #casual-dining #outback-steakhouse

business1 year ago•1 min saved

Darden Restaurants Raises Sales Forecast Amid Mixed Q2 Results

Darden Restaurants exceeded quarterly sales estimates and raised its annual same-store sales forecast above analyst expectations, driven by strong demand at casual dining chains like Olive Garden, supported by menu innovations, delivery services, and promotional offers. Shares rose 3% premarket, despite a slightly lower forecast for annual earnings per share.

via Yahoo Finance|

#business #casual-dining #darden-restaurants

business1 year ago•2 min saved

Hooters Closes Over 30 Locations Amid Industry Decline

Hooters has closed around 30 restaurants across several states following its bankruptcy filing earlier this year, as the casual dining industry faces ongoing challenges from high food prices and declining consumer sentiment. This is part of a broader trend of restaurant closures and financial struggles among major chains like Bahama Breeze, TGI Fridays, and Red Lobster, reflecting a tough year for the industry with slow sales growth and inflation pressures.

via New York Post|

#bankruptcy #business #casual-dining

business1 year ago•1 min saved

Chili’s and Chain Restaurants Make a Stylish Comeback

Chain restaurants like Chili’s and Rainforest Cafe are becoming popular again among younger customers, especially Gen Z, due to nostalgia and a desire for stability during uncertain economic times, leading to a resurgence in their appeal.

via The New York Times|

#business #casual-dining #chain-restaurants

business2 years ago•2 min saved

Olive Garden Attracts Diners by Avoiding Big Discounts and Price Hikes

Darden Restaurants CEO Rick Cardenas reports that customers are shifting from fast-food to casual-dining chains due to frustration with rising fast-food prices. Competitors like Chili's and Applebee's are capitalizing on this trend with targeted ad campaigns and deals. Despite this shift, Darden has not seen significant benefits, though it continues to outperform the broader casual-dining segment. Fast-food chains like McDonald's are also responding with new value meals to retain price-conscious customers.

via CNBC|

#business #casual-dining #consumer-behavior

business2 years ago•9 min saved

Red Lobster's Bankruptcy: Mismanagement, Misery, and Closure

Red Lobster has filed for Chapter 11 bankruptcy, citing $1 billion in debt and the closure of several dozen stores. The company's financial troubles were exacerbated by a costly endless shrimp promotion and a series of missteps over the past decade, including the sale of its real estate and rising labor and commodity costs. Despite these challenges, the current CEO believes there is hope for restructuring and recovery.

via Vox.com|

#bankruptcy #business #casual-dining

business3 years ago•1 min saved

Darden Restaurants Acquires Ruth's Chris Steak House for $715M

Darden Restaurants, the parent company of Olive Garden, has acquired Ruth's Chris Steak House for $715 million, surprising some analysts who expected the company to target another casual-dining chain. Darden executives made it clear that the deal is because of their conviction in the high-end segment, as fine-dining restaurants' sales growth is expected to outpace that of casual-dining eateries through 2026. The decision wasn't made based on the current economic cycle, and Darden said high-income diners aren't pulling back on spending at its existing fine-dining chains.

via CNBC|

#acquisition #business #casual-dining