United States

40 Outback, Carrabba's, Bonefish Restaurants Closing

The parent company of Outback Steakhouse, Carrabba's and Bonefish Grill will be closing 40 "underperforming" restaurants in 2017.

Bloomin' Brands, Inc., which also owns Flemings, made the announcement Friday. The company didn't say which specific locations would close.

"Although 2016 was a challenging year for both Bloomin' Brands and the industry, we made real progress on our strategy to reallocate spending away from discounting toward investments to strengthen brand health," CEO Liz Smith said in a statement. "We are pleased with how our brands are performing so far in 2017, particularly at Outback where we believe our investments are beginning to gain traction."

The company noted that it opened 42 new restaurants in fiscal year 2016, including 30 in international markets. Bloomin' Brands operates about 1,500 restaurants in the U.S. and 20 countries.

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