Restaurant sales were down nearly across the board at Tampa-based Bloomin' Brands for the first quarter of 2016, our news partner The Tampa Bay Times reports.
Bonefish Grill had the biggest decline for the quarter with a 2.7 percent dip in sales, continuing a trend at that chain.
Carrabba's Italian Grill reported a 2 percent decline in sales during the three-month period that ended March 27, despite having launched a new menu earlier this year that focused on smaller portions and healthier options.
Outback Steakhouse sales declined by 1.3 percent. Fleming's Prime Steakhouse & Wine Bar was the only restaurant to report an increase, of 1.3 percent, for the first quarter.
"Our first quarter earnings were in line with our expectations," said Liz Smith, CEO. "As we indicated in February, we expect our performance to strengthen in the back half of the year. This cadence was contemplated in our annual guidance and is driven by the timing of investments and their related benefits, lapping a very strong first half in 2015 and the pacing of foreign currency impact."
For earnings history and earnings-related data on Bloomin' Brands (BLMN) click here.
