CHICAGO, November 10, 2025 —Like much of the dining-out public, Outback Steakhouse parent Bloomin’ Brands is taking a hard look at what it spends on food and beverage.
The casual-dining giant said it intends to save about $80 million over the next three years through such moves as renegotiating with its suppliers, being more astute in its product selections, eliminating unnecessary purchases, and employing back-of-house technology.
Bloomin’ executives said the savings will be sought across its brands, which also include Carrabba’s, Fleming’s, and Bonefish Grill.
What the company said the “non-guest-facing productivity savings” will be used to offset $75 million that’s been earmarked for a turnaround of Outback, Bloomin’s biggest business. That effort will include an upgrade of Outback’s steaks, a simplification of its menu, and an extension of its grills to accommodate a full array of proteins, management explained to financial analysts.
The goal is to position Outback as first and foremost a steakhouse, but one offering everyday value. The focus will be on upgrading the dine-in experience and bringing the brand more in line with prevailing consumer tastes.
Bloomin’ has already taken significant action to improve its finances. In October, it closed 21 domestic restaurants across its brands. In addition, management has identified 22 other restaurants whose leases will be allowed to lapse as they come up for renewal over the next four years.
The company owns, operates or franchises a total of 1,450 restaurants
The board also opted to withhold a stock dividend for the third quarter.
The company posted a net loss of $45.3 million for the third quarter, compared with a year-ago net profit of $7.5 million. Outback’s same-store sales for the period inched upward by 0.4%.
Bloomin’ isn’t alone among major restaurant chains in taking a sharper scalpel to its supply expenses. Papa John’s International alerted Wall Street that it has identified another $25 million in savings on top of the $50 million in supply chain savings it had previously set as a target. It anticipates those savings will be realized by 2028.
The Papa Johns chain posted a 2.7% decline in the same-store sales of its North American units.
As Managing Editor for IFMA The Food Away from Home Association, Romeo is responsible for generating the group's news and feature content. He brings more than 40 years of experience in covering restaurants to the position.