US EditionOutback is no longer America’s king of steaks
- Due to inflation and changing consumer preferences, Americans are abandoning casual dining chains like Outback and TGI Fridays, shifting to chains perceived as better value, such as Roadhouse, LongHorn, and Chili's.
- Outback's decline is attributed to hiking prices too high, over-reliance on promotions, cutting costs too far, and mistakes and competitors' innovative strategies.
- While Outback's check average was $29 last year, exceeding Roadhouse's by $6 and LongHorn's by $2.50, Roadhouse and LongHorn rank higher on the American Customer Satisfaction Index, with Roadhouse being seen as having a better value proposition and LongHorn investing in quality.
- According to former Delta COO and current Bloomin' CEO Mike Spanos, Outback featured items in short promotional periods that created complexity for operators and failed to drive value in their core menu items.
- As Texas Roadhouse and LongHorn's sales topped Outback's last year, their parent companies' stocks have increased by 15% and 25% respectively, while Bloomin' Brands' stock has tumbled more than 70%, but they believe they can return to their past glory.
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13 Articles
13 Articles
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Center
10
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Coverage Details
Total News Sources13
Leaning Left2Leaning Right0Center10Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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