Bloomin’ Brands Responds to Barington Capital
October 22 2018 - 2:18PM
Business Wire
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 conference call.
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's Prime 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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version on businesswire.com: https://www.businesswire.com/news/home/20181022005810/en/
Bloomin' Brands, Inc.Cathie Koch, (813) 830-5127Vice President,
Corporate Communications
Bloomin Brands (NASDAQ:BLMN)
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