Friday, April 26, 2019

Fleming's Seizes the Fine-Dining Opportunity

FSR
Outback Steakhouse’s resurgence has, rightfully so, garnered its share of headlines. The brand is riding an eight-quarter run of positive same-store sales. Its fiscal 2018 jump of 4 percent was Outback’s best annual comp result in six years. Naturally, this led to something few casual brands in today’s overcrowded climate can boast: Growth. Dave Deno, who recently took over the Bloomin’ Brands CEO role from Liz Smith, said last quarter there’s room for at least 50 more incremental Outbacks in the U.S. to add to the chain’s 733-unit footprint. But a less publicized opportunity is quietly forming at Bloomin’s smallest chain—Fleming’s Prime Steakhouse & Wine Bar. . . . more