Outback Steakhouse’s parent company (Tampa-based OSI) posted a $46 million loss during its summer quarter. Consumers are moving away from casual dining chains to fast-food chains….and even cooking their meals or at least using their microwaves.
Outback lost $46.6 million during the quarter ended Sept. 30, compared with a loss of $16.7 million during the same quarter of 2007.
According to Sarasota Herald Tribune, sales at stores open for at least 18 months — an important measure of a restaurant’s health — fell 7.9 percent at its flagship Outback brand.
Same-store sales fell 10.2 percent at Bonefish Grill and 5.7 percent at Carrabba’s Italian Grill.