September 7, 2012

Bloomin’ Brands Q2 2012 revenues up

American casual dining company Bloomin' Brands has reported an increase in its Q2 2012 total revenues by 2.7% to $980.9m, compared to $955.5m in the same quarter a year ago.

By admin-demo

American casual dining company Bloomin’ Brands has reported an increase in its Q2 2012 total revenues by 2.7% to $980.9m, compared to $955.5m in the same quarter a year ago.

The company attributed the rise in revenues to increases in customer traffic and modest price changes driven by various factors such as menu innovations and promotions.

Bloomin’ Brands’ net income for the second quarter of fiscal 2012 was $20.56m, an increase from net income of $16.44m for the second quarter of fiscal 2011.

For the six-month period ended 30 June 2012, the company posted total revenues of $2bn, compared to $1.93bn in the same period last year while its net income for the first half of fiscal 2012 was $74.3m.

For full-year 2012, the company expects total revenues of nearly $4bn representing a nearly 4% rise.

Bloomin’ Brands is one of the major casual dining restaurant companies in the world with a portfolio of a variety of restaurant concepts including Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse and Wine Bar and Roy’s.

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Bloomin’ Brands plans to expand its Bonefish Grill and Carrabba’s Italian Grill chains, as a part of its expansion strategy, reported Business Journal.

Bloomin’ Brands CEO Liz Smith said Bonefish Grill has a potential to double its store count, from the current 152 outlets.

"Bonefish Grill unit growth is our top domestic development priority," Smith said

The chain is looking to open about 19 new Bonefish Grill restaurants in 2012. In next coming two years, Bloomin’ will also add 14 to 17 new Carrabba’s restaurants.

The chain owns and operates 1,253 restaurants and has 197 restaurants operating under a franchise or joint venture arrangement across 49 states of the US and 21 countries and territories across the globe.