BLMN - Earnings call transcript Q3 2020

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Operator

Greetings and welcome to the Bloomin’ Brands Fiscal Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow management’s prepared remarks. It’s now my pleasure to introduce your host, Mark Graff, Group Vice President of Investor Relations. Thank you, Mr. Graff.

begin. may You

Mark Graff

now good can our are: be section. use and Chris presenting and the With in on release bloominbrands.com in XXXX Officer. previously conference me Executive our access this Thank as third be fiscal at An Deno, morning, found our call quarter By Financial measures Chief Throughout David President explanation non-GAAP described. our website, the basis. release. of Investors and should of on financial Chief today’s reconciliations have results most we Vice to GAAP website It an directly earnings you earnings adjusted will measures and everyone. our you also call, to on comparable Executive Meyer, our Officer; on appear

Before risks uncertainties These I’d formal our of from today to will that a differ to everyone are forward-looking statements our cause remarks, subject recent discussion forward-looking materially remind and discussion part statements. statements, that numerous including could of include actual results trends. we begin like to

in these at earnings are sec.gov. mentioned are in our filings, of Some discussed release. Others available our SEC risks are which

that, Deno. we’ll to third now current completed over financial of brief a for the I like we’ll open discussion call performance remarks, these to the David for fiscal During recap With trends. call call, quarter today’s questions. a provide and we’ve turn XXXX our regarding Once the up

David Deno

Well, everyone still remains unchanged. beginning thank today. priority you, our and pandemic, of Mark, welcome to the the listening Since

part motivated, a is decision dining to and not The to environment principle our employees that on pandemic engaged a serving and during back of driving results focused paying any to is experience. that in reinforces and a industry to furlough success. enabled ahead in engaged and it our clear customers, dining our is well protect restaurant critical our safe safe an been It of to they the providing us employee workforce. in and team very and has welcoming want are long-term committed pandemic. a are This the care provide base big both which customers of members off to retain has and to trained experience confident to people the ability We taking success restaurants maintaining throughout come a food

continue Our August, with to [ph] [Indiscernible] been recognized contact by disinfecting This has measures in country maintain additional safety ranked our In Blackbox service. consumers. in Prime work reports. for restaurant snapshot dining released payments where including across rooms number the Steakhouse sanitation customers was food Fleming’s practises elevated and the hard as several in well options [Ph] and one as and one number

to the return. consumers survey dining for quarter. same experienced in addition, dining. an restaurants. more was every winning award it. supporting become Bonefish as support Across five and sales to thank to ranked earn third was Each magazine each U.S. I work concepts do restaurants. center. in the the the operators would restaurant comfortable the to the and In were top survey. attempt you In Outback job the take the granted our best Newsweek not Grill in our a ranked improve service everyone We fifth momentum customer recognized recent three the day portfolio, like ranked great of week also and weekly in restaurants do I do this And of we appreciate sales throughout continue restaurant recognition in hard casual consistent in first

rooms achieved XX% of we closed. and incremental the off-premises our dining while addition, are In robust were approximately volume business remains retaining

outperformed points in As the XXX over sales by industry a quarter. the basis comp third result, U.S.

success fourth the pursue the is the in investments and enhance industry the progress experience behind outperform over customer business. trends, the rapidly of made to off-premises combined to several the continue due the past A to years part emerging we significantly Importantly, These quarter. to margin quarter. look profit us results our sales run large operating The deficiencies outperform expectations and an with how business reassess in optimize opportunity model. our restaurants. the holistic provided disciplined review cost pandemic at and support further enable differently This to and which management identified to the our strong we

For reduce discounts. and limited offer simplified time our example, menus we

profitability increase these to complexity, Importantly, consistency contributed efforts channels. improve have reduce across and revenue

will a learning’s great efficient across become company. more drive efficiencies these key more We the restaurant forward. the to progress enable that going leveraging are stronger made to and We us during quarter following priorities

now we how Let each doing versus our discussing me spend a are few of objectives. minutes

are off-premises we and rooms importance leading has consumers. of dining large even the proved share reopen. for industry this our business the of convenience pandemic as The a retaining place First, channel role

made years, operations, build investments off-premises Over culture we the in and the strong past few business. channels grow a and to

to Carrabba’s Carrabba’s strong our growing interest, will of capabilities growth opportunity. carry-out forward. for seeing lot moving leverage and particular Of especially delivery a We an important believe catalyst success. on this will capitalize be We

continue margins. managing make to on we progress Second, expenses improving and

efficiencies to to reduce efforts place including ability This labor, we the about how and once well we past margins, to overhead. were before pandemic. grow exit pandemic. about optimism even business the made learned year, in provide These and Our additional the advertising manage the more learned we costs improvements expenses

to trends. discipline improvement Brazil over in financial has flow debt. management, Third, our seen profit and while future liquidity, sales enabled Fourth, down and providing quarter to cost capitalize us paying improved million in sales the of have increased generate on significant business cash currently the us available trends with We $XXX significant opportunities. positive coupled flexibility with stability

capacity an restrictions, limited is has large sales Delivery indication to and down couple from a this major and of in costs prior XX%. are The dining. drive Outback in in pandemic brand Brazil have cities. reopened approximately XX% additional has business. of Outback actively the September, effective Outback in-restaurant last the learning while to Brazil is sales of XX% managing to capacity the been restaurants been we of most safely with versus weeks, All down comp This efficiencies. over of the X% In strength the Brazil country improvement are sales, trends, to contributor a in team portion strong Brazil. and The leveraging remains retaining continues eat and a is

we we've brands remains this generated As And the value cash able Outback positive and work, also larger result Steak premium performing In saw better of prices. even lowering more The consumers cuts portions a Brazil. launched through menu great Steakhouse. of accessible than quarter. Outback designed accomplish the to the and menu menu early Brazil these while on while new in highest reinforce by Outback customer our September, we flow at leadership results finally, is one to experience for what test. to strengthening been resilient and proposition regarded

trading better We value customer larger and guests are for are up and to feedback on stake. cut strong seeing

appetizers tax rate growing Our well. alcohol and mix on is is as improving

sales All improving of this and grow satisfaction. profitability while guest helps

menu In complexity, improved customer that reduces and addition, efficient which consistency execution improves experience. results design this in an

our call to third results, channels at are Before over growth our on Chris want elaborate look business. a that for deeper to we dine-in two quarter complement I testing financial I turn off-premises and the

called brand is fast-casual test Grill. a Aussie first The

with international who with expand created wanted not franchisees more be aggressively Aussie smaller you those a to was For of familiar who the concept, may footprint. for Grill originally

internationally, They brand with brought for we convenience. the Grill menu our flavors. casual ribs of saw quickly we As the salad U.S. success Stake, Burgers, to is Aussie fast Chicken, differentiator a The bold serve and

Consumers Aussie in been above very U.S. initial and the first out, delivered. promising from financial and Grill few profits eat The or can Aussie their are use free-standing first have drive-through sales in locations May. in promising Tampa the returns The have opened carry the Grill are expectations. in, we order in

a in plan the we expanding As Grills Aussie more concept XXXX. open result, are to and

leverages brand channels our expectations. launched has Bay called The Last kitchens of Shack. Tender cooking Grill, for the brand and the second Like Aussie and in are growth consumer brand This month, strong area. sales Tampa delivery. of virtual ahead virtual been restaurants we existing is the response a

to cookies have casual drinks. and brand food fast a segment Tender price. menu a promises Texas, chicken now quality The limited category. dining result, on Oklahoma, delivers to and As a offers Shack test is and quality, we very at growing The featuring, fries, expanded tenders, a high large Missouri. rapidly Kansas chicken and

opportunity opportunity talent take of remain the a rolled to to In out growth were perfect convenient believe, objectives, have assets capabilities incremental the relevant to we gained opportunities. and will the share. the consumer Grill advantage in offers people, we needs economics attractive and are and habits with of Shack, have clear quarter us today's for changed. Brands of food an We the pleased and as performance. love, to dining great summary, and an has our growth that consumers consumer create significant our capture and initiatives, Aussie Tender will market exceeded right It's have meet format. environment, the today's third We front we in wants very key beyond. channels Bloomin' With assets

that, our current evolving a over And are we Chris. in opportunities I an as take stronger the to position this momentum, us with advantage call now to the Finally, result of landscape. of ahead even will turn of

Christopher Meyer

everyone. Thanks, Dave morning good and

dining current began I successfully QX early in rooms recent guidelines. the with of results, on May We accordance are local provide reopening sales we perspective trends process want to some state our Before I how discuss our the and in navigating environment. and

have operated up in capacity. level of July. at yesterday, some our company of earnings of opened, restaurants XX% last rooms seating call from of our As This time dining XX% reduced the is a with

quarter, during As welcome to Restaurant the results the to Dave continuing across we ensure restaurants feel and mentioned third and increase elevated have our earlier, measures country. continued to the capacity we safe. varying safety are in seen employ consumers

soft. capacity a well state. increase have as certain seeing good weekly example, we time, sales gains in are in increases, have are tourist Florida, centric For parts the areas not such to we of Texas, restaurant and increased Georgia, where Jacksonville and and volume seen responding we large sales presence. Florida while South of are relatively Conversely, Tennessee XXX%. Orlando in like and was Tampa a as recently in states this And commensurate seeing more

will We year key markets progresses. closely to the these continue as monitor

overall were several In and sales improved comp U.S. sales performance, XX.X% steadily the over terms past have months. down of

versus every down off-premises sales X.X% in momentum in positive restaurant comp the sales comparable down third down business. X% month, driven experienced sales growth, were XX.X% September. perspective, retention comparable restaurant of For sales At sales and with this improvement restaurant were maintaining strong was sequential in U.S. June, by while down XX.X% in in Outback, September our quarter,

monthly and U.S. progress concepts Our across sales saw the similar results.

to sales continued We One I sales overall and our thing are trends. moving pleased about the momentum with out wanted forward. point

if restrictions where increasingly the grow holiday are difficult focused absolute sales market volumes. the to significant we Although comp sales Comp share. will limit enter especially on informative less performance, in more to that and remain key constraints have sales ability and a there December. become capacity gaining the on measure our It still for comparisons season, as be mindset volumes week-to-week building to potential predict in consumer is is restaurant capacity we

a result, capacity may current maintain dramatically be in-restaurant during increase to As volumes challenging our we levels. it if December

However, these that we months sales critical maximize business, our in-restaurant ahead. off-premises in between and extremely be our safety well rigorous will and positioned we confident protocols to strong weeks are our

was diluted aspects versus financial XXXX. quarter adjusted diluted of last million. $X.XX GAAP loss per diluted per Total revenues share of other to now year. Turning to $XXX for decreased was share QX versus in Adjusted loss per $X.XX $X.XX, share per share XX% earnings $X.XX diluted performance. our the earnings of

areas waste P&L. out. our and Since were expenses, of has This to the our costs. and there XXX streamline positive been costs efforts. In on to relates QX, worth the Outback as with last this levels. the year, efforts to basis have waste, benefits favorable the operating points focused calling record were beverage menus menu, our had on of a improve impact we several few efficiency introduction it Even simplification a pandemic, As see onset food to we simplification driven lower areas to on pre-COVID our of low continue new continue by favorable demonstrate to

in year-over-year. in we This significant on reduction up was We COGS, however, also averages. showing also The down labor line as basis prep in overall line from seeing efforts. reduced is unfavorable this check from to are up simplification benefits from de-leveraging which sales being benefited had we food hours. Similar discounting, XXX points showed higher a

in expense points million We unfavorable for expenses menu. also menu to off-premises in our was find generate are sales, were volumes. our margins restaurant de-leveraging de-leveraging within in the go and QX, basis These printing which only by expense allowed were lower business to U.S. despite lower XX grow. offset that last controls marketing labor XX.X% reduction Outback due impressively, below in from increases continuing continues us a to sales efficiencies More supplies, points quarter. focus $XX our basis positive Despite the as increases P&L costs XXX to Off, QX. were significantly to the new operating XX.X% and in year, on sales margin restaurant a

emerge Moving will about improvement achieving remain back the with business. our pandemic, goals forward, be as investors expenses we very back we thoughtful shared from committed we we we introduce how the into February. to And in margin

that benefit $X was discussed QX initiatives to down million G&A net from our call. savings in $XX earnings February million the a adjustments. On last we cost year of included This related front,

we related to training from another had benefit $X travel expenses addition, In million COVID. and reduced

tax from more own quarter as P&L adjusted year-over-year lower million is royalties other tax have such sales a impacted footprint. the royalties category. for worth $XX of pandemic restaurants. franchise and in been noting rate as locations item our driven the credit. pre-tax part XX.X%. revenues This credits franchisees. deferred to our This as is tip well by was decline was coast marketing by company negative This was our These than additional contributions Our One on down other and and our west due lower our product FICA income,

expect would sales the and well we marketing collection royalties. as improve, deferred in our increase and royalty of trends as an contributions, profit As plans

million, Turning to our domestic on domestic credit million last update includes total sheet. July which on $XXX of availability our our balance we of $XXX $XXX improved revolving and cash position have Since our facility. XX, to liquidity million

situation enhance with and pandemic results. the performance been this us will discipline to for performance, our that, to model management allow enabled has improve for Our liquidity financial with strong and closing, this up deliver strengthening has enabled combined cash, flexibility. challenging, has In our tightly call continued us sales open cost we manage questions. although to continue throughout operating And

Operator

Instructions] this [Operator you. of with Our Thank time Bernstein conducting question-and-answer be line question proceed we’ll a Jeffrey At Barclays. session. your first question. with from Please comes

Jeffrey Bernstein

you Great, thank much. My more trends. very question on is recent

industry in XXX to thus Dave, I October, quarter. you're still mentioned, think that the was you outpacing think I the in third said, points as far basis what you

and as like, as about sounds industry there's election. the COVID peers the around onset the Just and maybe well, recent talk spike about the unease concern infections, of colder weather just of

you then further I'm wondering your a I talked comments December when you prior one little kind up. here So vaccine, and meant just color, period. exactly just follow improve wasn't But sure to whether about you a what wondering the if throwing, to can see opportunity any I of you had sales give prior a to from around

David Deno

sales, building quarter. have And balance to I in are sales room, our we're opportunity the Yes, helpful. QX the so each the More mentioned, Sure, far see people is outpaced of we been, morning. as improve to holding industry off-premises has in sales, the yes. Good do and dining coming our revenues week. very which our very, that? and on Why the are

build again, couple season; our think of last weeks to a continue up got we've build got box well right. that high the going a to try you've job really day get business as use to as week. our that we forward. regulation The our to And to days different holiday to when catering week And to we're safety really, the the Jeff sales objective environments, was well, that to the week we obviously, you to, do then mentioned fill have we hope when season, week. thing to revenues only parts like But off-premises would continue move comp of high Christmas Chris proper we But really to a as there. holiday to So goal and -- it's really different is I our business within great and we've got week-to-week. and

Christopher Meyer

I December, that. our restaurants three restaurants seats still a and quarter now keep we full. pretty get important in add up And just in weekly of weeks the last in step to have it's our Jeff. But would typical the in volumes really year, did to Yes, In than we mind; pandemic. fewer particularly pre

So some sort to creates that artificial just in-restaurant of limit volumes.

And volume and difficult to percentage absolute sales it's so comp little because we think more assess. can bit results to to pay attention constructive get just little can change get the different much bit a a changes,

winter mentioned when the seating like winter of important the the story. overall I The comp our things dining, of a the and actually majority not about cooler southern it you And season outdoor part other our in the in thing it material of our add, seating is is majority located talk the weather, United is States. you weather driver of And restaurants. outdoor outdoor helps the would

levers So, just about holiday were feel make that have. place, we have people in we just I sure that aware of season. we to some the into think good the heading want inherent the of We constraints

Jeffrey Bernstein

during of just, about up then broader my pandemic. this follow industry And talking Understood. the was challenges you're the

market I the a maybe share like independent net closures for people talking gains. think as larger been of positive yourself, a have about chains, allowing lot for

can of of that those with kind So if wondering color you're any that of I'm yet, magnitude just said, closures. seeing you terms maybe offer any in

big estate And yet, site's not out not peers mentioned they the yet seeing your that to talked unavailable. opportunity play lease of really and seeing they expected, One terms a real become how about, great yet. favorable with

real can markets, comment and most recently? rental on the estate you the if you. and wondering So just Thank closures independent

David Deno

sure. Yes,

the restaurant to say that chains pick that been all, up some were But on have of are me we to of want very sites. have gain been have big wish any positioned And ill independents yes, independent any We to really chain. there let don't industry. we well And or any by, will support share, yes, have first So there struggled. struggled.

are we haven't off-premises positioned an up for yet. But position. you our at We very to we market-by-market and stronger dine of in well future. whole And well both forward. it, seen our are take would look intend And at the move on for with when a that share look come lot and prepared the to business, a business you even basis

Jeffrey Bernstein

you. thank Great,

Operator

Thank you.

of Partners. Please from Levy your with Our the proceed line with next MKM question Brett comes question.

Brett Levy

Thanks Great, call. thank you. for the taking

gave you you last color of If how that well little your of number of in are doing could quarter, terms positive comps. just us units in that are generating a terms bit portfolio of was

are you If little are you going variances challenged capacity of to they wouldn't can in on where have terms based be partitioning right you states stay it could sense total a of how now where and the and into still are doing those you around. and do mind with as moving versus whether Those further higher the any states. you're think that that just bit by Thanks. have do efficiencies you its tables capacity you where

David Deno

sure. Yes,

results I really mean, those really mentioned a which clearly that. is on in do etcetera, talked to But, Chris Tennessee, of we’re to etcetera. markets. our follow And First and seeing some our, we need get through And the to of we’re bit doing holding capacity some out of we've off-premises little we’ve we state. Chris And Texas, up done, as incrementally. on it all, about the then captured work dining continuing if like by can good I it well of partitions outdoor, of things a business before the the efficiencies and Georgia, varies well. lot outdoor built,

prepared environment as are take So in expand. advantage a operate to very and capacity things of safe we

Christopher Meyer

and Yes, Brett. a just stats. couple

QX, in included store positive locations XXX Carrabba’s of we up actually positive of results. in So that that with that comps. posted XX% posted jumped XXX number locations had In our sales September. our locations comps positive same And September, to

performance. strong very So

Brett Levy

of magnitude And points lot is I you an give obviously XXX room there's backs. know asked in in you. of share positive thank you've you Great, had a Jeff solid order share, Because terms between market I of of points But at XXX basis taken? and know basis Can what number. the least taking kind -- and quarters third this. a

David Deno

Brett. proud is very Yes, I a outperform XXX continuing it. data. to we're good in have the I We And very number. points market QX. we share particular mean, don't And of think are basis

you So positioned we trends shared company. data. well we to are a and on going capitalize don't have But forward can tell very as trends current I

Christopher Meyer

to even reiterating though context, in provide performance, from were have didn't where it increases is they our relates worth And our that September. it direct we weekly as volumes Yes. posted

Brett Levy

you much. very Thank

Operator

you. Thank

line Our with your with comes of Please next from question JPMorgan. Ivankoe John question. proceed

John Ivankoe

because of -- can you average I sequential should increases, mean, asked to start I've kind tell been question is? of number number sales? or guys. because average, number next have you you ask Hey I September? mean, Can or provide company than we before maybe us this of And Or better question. in answer of for and a a guys Well I hard us? quote I U.S. give yes, can this what Is obviously understand, a this do is very you kind everyone first, just COVID. number no, October direct directly, system we're, it the weekly you in had

David Deno

stay with outperforming quarter. practice our we move will the especially forward been We'll I that many we a during of industry we're the giving the as Yes, not details, third fact getting with stay have as as too company.

John Ivankoe

is you're want numbers right. that you against? that whichever to tell actually aren't industry numbers”, Okay. us benchmarking reported what the “industry these publicly that All And with quote because again, can that industry number you number do

David Deno

well-known numbers, the blackbox, etcetera. industry It’s

John Ivankoe

the -- I expectations. there we updated there's all sure you the so why data secondly, critical that set sets. that why were page numbers more make one. different asking we have Well, And fourth same quarter what than I'm as you one, we That two that's that's on wanted that's just your do, to

David Deno

same ahead the both. and page, we're of on We're

John Ivankoe

good. I lot That's from have obviously That's We've my then the we right. wasting of overall for is an over fine. evolving and on and And of question. Dave, All words apologize kind costs organization, -- how, my make about time, overhead not quantitative, give how, various us types from perspective, to but good of a, you specifically of you data going a better necessarily, from talk kind qualitative of get might decisions support. make technology going able how forward? faster obviously a wasting that of Can both kind Okay. how that's and talked about a kind be view

David Deno

earlier Yes, I this we've a become mean, and about journey sure. done our company. structure in business. Grill well our in following boom, And at of we've what lot Aussie take the the been leaner, it the I some time Outback faster I’ve story. We were ahead with this mean, and our an organization data moving for look also menu. a Shack. digital you started in learned Tender year. And We and made a we've recall and cost some restaurant pandemic, moves if overhead addressing quite the

And kinds Shack, of very so weeks these moving those within Tender like things, etcetera. are decisions moving of We're very, quickly. we

it opportunity has we see level, year-on-year. G&A And come sequentially, because clearly, have forward, learned lot helped at a that see had managed in our done job costs down organization Chris the our items. about learned forward that also of moving been we've we managing line And a various numbers, a costs how a a it, our you And we've us overhead lot can as So lot. as we've we very good and restaurant we've go mentioned, John. good as

efficient we've more through as this have a a organization, So rapidly a organization, and leaner we moving think a we gone organization more effective year. more organization,

John Ivankoe

have we be that XXXX? journey might place? all words, what's into terms for in where And of at point, are In put made? been changes get this we on we been in Or looking as more those other

David Deno

I fantastic place, the everything that and think get year. done into next of job in this we year we've a balance for virtually to and enjoy putting

John Ivankoe

guys. Thanks, enjoy. Okay,

David Deno

John. you, Thank

Operator

you. Thank

Glass of Morgan line next question. with Our proceed comes John Please question Stanley. your from with

John Glass

think investors savings to do levels? Thanks, everyone. good return maybe or on to and place. wanted is I just right, companies level importantly, normalized do What to and follow other to morning restaurant I think enterprise level those margin you up said this trying more in are the sales the when maybe margin, were frame either cost What that. be could about

think quantify going what I cost are retention now be? can more going you back? what could you some And be what in the you're to those for quantify to And come that enterprise then, learn the laid since of so February? Can you out probably could us? savings think sales that therefore given margin costs you

David Deno

lot provide point you And and to I'll journey speak started Chris. pandemic. followed to some to basis who John to items, business, the grow it our and this for made ourselves XXX during of you the in opportunity it with broadly also pandemic talked then pandemic. a prior of I'll Again, and we up, our provide Chris but XXX set before a company those to us moves those. our turn think to that I learned familiar over more we to company, about pandemic, fair P&L before turn for the I'll And there's as believe of this over opportunity some a are we line that, we've the some well certain amount examples we

Christopher Meyer

original give what This but only isn't operating And $XX during heading we XXXX we had We in into more XX what just coming called XXXX. out had cost margins identified this point of learned. to basis, another we talked overly then good improvement Not that call pre-COVID. the of that a of million specificity. little with And Yes, the identified. because you into and cost said to what We not guidance. savings margins Dave for about year our XXXX million savings, $XX been grow and because we ability learned an that felt of and to about our repeat quantification pandemic.

obviously, plan of $XX that pandemic. savings to XXXX But is original still cost on was hold due the put million intact. So for the

learned we've how model. to our Now on Dave efficient top of be that said, operating as more

we go how a where with going improving perspective And to sales this little some flow so line, sales are us We've to in with the bit things. needed that's of of average. not start up our line generating this if that kind by drive say through. And in for to give you you think is less It's margins and showing discounts, all the on environment discounts about traffic. I'll check of those

area execution, structure I forward. in are absolutely clearly we're for a reduction, our going Labor level due terms again, by there that's to the seeing, of biggest sold Waste that re-cooks lot pre area a terms biggest waste of priority is better the major the product moving that, all driven us confident is area efforts continue. goods the reduction. at in think is of margin terms that reduction of a labor's and But the of the hours, where And the there's was prep restaurant level. which the of biggest less to menu. learnings simplified is we we've of simplification pandemic. that Cost improvement in of seen

in this on feel see going as restaurant, to a Now, increases hours to are have And we some the ability of but benefit. opportunity we come then about our in level we to large good hold back sales, into marketing.

sense the most an But efficient spending, deploy the losing opportunity without of And to traffic. driving marketing reduce once we a tools effectiveness has to will have made us G&A in that Dave terms we that gives constraints. reduction allow the savings. then pandemic, programs. talked pandemic, During marketing has get the And past in expenses capacity about marketing us the given

as and P&L not incremental that do G&A of travel back bit a of to we've pandemic. increment we're important. some result in going seen into is we've business. come in the that savings the some seen lot quite a hospitality a connection be We personal expect to training Now of after the And

of moving communication learned hopeful we some can save we've in some dollars efficient our be this we're additional However, to and more forward. to use leverage of online G&A

the from an our year feel closing So the entering the the After felt we sum better it margin is, gap to pandemic, about about that look, but not learnings is peers. ability. we exact that of even the good quantification,

John Glass

very That's helpful.

the U.S. see your digits. on that up or hold whatever order last as was you down for that same you the double year's margins, that low of improving you could in to, International on magnitude is essentially the Just get say, quoted. the relationship Brazil? down flat Could on I of Brazil follow high think to, international were kind singles the current number close to is sales one comps the year-over-year, so margin Does

Christopher Meyer

Yes.

reason they that. Absolutely. As couldn't they that improve, there's no do why

of volumes even In even volumes advantage overall respect. that bigger. fact, are restaurants their Their average bigger unit an in the are

David Deno

flow the And mean, cash the Brazil want fantastic team. positive I a they and to quarter. job, back I just out seen, in call the generate we've done they've bounce

So really pleased down with what's going on there.

John Glass

you. Thank

Operator

Thank you.

question. Jefferies. comes Please Alex Our of with next proceed Slagle line from with question your

Alex Slagle

Thanks. Good morning. Question on margins. the

cost on of First goods.

seen If that you little seen dive Never a could on there. deeper the low. leverage it

any low context And how point. levels? think thoughts on much into margins quarter? restaurant we the then this as current fourth should at rate, just the heading that run viewed about or And on level should how sales the be Just sustainable current of that if

Christopher Meyer

Yes.

mentioned you funny that. it's So

that's just did efforts a that in this that we all on our amount lot dine pre-pandemic terms the program. of that a were has then significant think menu, seeing a we I sales simplification in And So discounting. mention doing now we're history the history this the not cost simplification our that averages. have learning XX.X% goods of a been driving of it our we I discounting talked know back do fact the in reduction favourability. that company for And we've from books. aside of we of some discounts higher I with We number other that that then a we system. -- discounts check still that This But a the the posted in ever And thing to go quarter. efforts that cost of And the waste. of journey lowest is briefly between right additional And to through the you'd in quarter. that discounting goods the just into level is while. of in our for the are sold posted is things about, We're reality doing trying the -- we from see the first were just reduction simp lot of the the had rewards is

two of commodities the So -- we than in last pretty downside a the in been just really is well, into we as but more only commodity from quarters running were big those coming we've to we've on going favorable couple that, inflation, The variables. pretty year. top positive thought slight unfavorability it's been been mitigated

the well that as restaurant just teams in here Support great you Restaurant perfect was driven another number the just has had to field, Center over that And in on Alex, that by So level. of [Indiscernible]? execution that discipline question, as our it storm

Alex Slagle

rate. Restaurants Yes. run

David Deno

Yes.

I and that margins. of increase a you that to to it there improve, throughout volumes pickup as think is But there the on volumes when to dependent way the level think is get -- restaurant is entirely the continue to about volumes should obviously, quarter. continuing

Alex Slagle

you. Thank it. Got

Operator

Thank you.

of Raymond Brian Please next question. question line comes Vaccaro from your with Our with proceed James.

Brian Vaccaro

Thanks and good morning.

couple Starting questions with you in a September to Maybe could sense margins. how year-on-year a on July? be give expect on store to you continuing with period? versus comps trended the through margins some the improve, And margins U.S., U.S. fourth the would us quarter? Just of up store color

Christopher Meyer

restaurant think versus margin to that were There's versus declarative to our they of margins June too We're environment level guess, margins. you is if as about that Yes. statement. of I to of for a I the probably uncertainty But QX you flat. not just actually to that tell make terms guidance September, fairly going can direct in And expectations give much kind relates menu of new menu rolled extra costs, we roll what excess some And hours I with one-time it September in, would simplify were September. associated done the is out costs take you collateral. to of that printing a we we've in tell menu, there off the work lot did June relates Outback about that as training what

to menus. new So reprint we had

So have pretty September. improvement June. then those restaurant took in you into those And level margin costs out, would solid shown fell our from if we

in continue about period in July of September a think Now obviously, little the terms because to versus August, four-week a disconnect improve, period margins and you was progress of a bit progression. how there but quarter restaurant there's as the five-week a

David Deno

And a five-week June is period.

Christopher Meyer

-- I'm well. yes, as that's period June June And is comparing why [Indiscernible] was it to June, because

Brian Vaccaro

Yes. margins memory trying in June And said June? period. said if you to remember I mid think the had serves, in you was store I'm it XXs, five-week

Christopher Meyer

That's Brian, right. right, That's XX.X%.

Brian Vaccaro

Brazil, to more you have? provide in they on to down Could terms primary there. comps, down what of were sales some just in some the context think with could on And And guess recently? said of have are Okay. you improve the you XX level sort allowed where of environment seeing you're more What us store that five of sense a I degree October. comps to I EBITDA give is factors

Christopher Meyer

brand best the clear EBITDA the the by too won't we And just get of probably let how month. leading that's in is there. me strong But indication guidance. it's one So, restaurant of the type dining by it's brands a that granular business into country. say, of far. I mean, level a little for Brian, casual It's down

things as Outback. people open miss So up,

really think much cash we QX. The And and cash on we There's some That's hanging We second business generate flow no businesses, positive QX. reopened. thing much flow introduced [ph] helpful. off-premise rooms to dining they an in been like and extremely Brazil. can in we're didn't win positive U.S. the have the of our it of is, also as them reason why in to it generate

the really just we're team down pleased there. with what is So, doing

Brian Vaccaro

last seasonality back all mentioned, to moving you understand the absolute world. quarter. through guess, from me then volumes I I the a COVID And that Okay. sales, it's about one sales fourth in thinking about

sure page make investors that on since all from metric. same lot to comp perspective, on a focused a we're of the Just are

If at would you average compared in last October the quarter, December just sort you what that to us weekly maybe could much give December how held seasonality? year to terms through Outback Or volumes into October is frame comps? of sales sense, higher AWS of the a translate

David Deno

want is we going -- our and to don't hold is what Sure, weekly a as -- seen have we're our volumes say we can our goal, on we basis.

absolutely is And build seasonality build. else that Chris So we Season, restaurant as want that's to add? anything and and Holiday take or them off-premise last two volumes the weeks you there and to advantage we catering three to -- the the want of Chris, standpoint, things from like to restaurant want a absolutely, up. build mentioned, that to

Christopher Meyer

perspective you last just would year Well, on give volumes. I some

sales the So, couple was last the and $XX at or sales. weeks get And of year that you U.S. if the to week. beginning quarter, look running last a million bumps call million $XX up the it portfolio you so of to of then of

of the box understood of to last But how we to the in December. ability year, that that think progression volumes a can weeks we looking everyone that's So sure last few just and we grow progress again, kind of kind you're is from that in look, make I the there year year. at And last base. that that ago continue a want played to out hope

David Deno

parts, we different be week, catering, grow those off-premise, whether it's it's volumes. whether whether the Whether times will dining, day whether it's it's prepared various to of it's

Christopher Meyer

increase reiterate were volumes to we seen just where And progress. which in have again, is mean, Yes. they from September, I October in

David Deno

test you to been us context contribution seeing? Then Alright. just the Yes. have on the a kind and last sense, see you strong. orders just sales, Tender the the of expanded on Could average one and day encouraging said response you're Shack, a obviously any or consumer that give ballpark sales

David Deno

want into yet. quite of early, Brian, don't get kind that really I detail to It's

pretty be I the for from excited pipeline customer, well. those Just that that we new know that. it would But Same you Aussie with us the felt beating expand we the to We expanding sales, is margin, unless standpoint. We're brand. begin not plan expectations Tampa to think where test we something our expectations markets. had And location to about. pretty freestanding our there in we we're here thing that do the Florida up Grill, build and had operation in

we as of and that is to capture much possibly as hearing going So company from can. multi-channel, convenience, I think what great we're you're our food,

Brian Vaccaro

Fair enough. you. Thank

Operator

you. Thank

line Our Please Haskett. Farmer next proceed question question. Gordon Jeff with your comes from with of

Jeff Farmer

Hi. Two questions guys. and for thank morning Good you. you

you highlight capacity. increase initiatives of handful from meant of late again heard we in to you today, and when did then So July, sort were that a

Plexiglass, gains? You proved you dining we if expect space, feel as we most which table reintroducing across increasing And for of capacity forward, you delivering talked look all turnover, The you outdoor capacity have future is in delivering which those gains? would most do to effective I be look initiatives, question about have in effective lunch.

David Deno

talk back, single let again, those about. things channel, every we step restaurant this about stepping the we've just But very get In Yes. Well, volume dining, expect as Jeff, from back minute all our and me drive come script next the and about together have Outback us. we for off-premises, good things through outdoor for dining, which tried a traffic Steakhouse. feel talked few in the at to menu over can company gains sales. that quarters you the new We

you captured with And encourage value captured to haven't really the very pleased We've abundance been you that. opportunity. the If yet, We've We've I got combos. we're very, would opportunity. go.

for in-restaurant big catalyst dining. that's So a

the earlier part do us that and changes. We couple what to Then Brazil. exactly a go a got be the opportunities to in XX% Brazil gains, able well. Aussie best-in-class that capturing We how about they're earlier we at today and sites. business. in it's going Grill. are to there. be that are to we early opportunities And have to started the look. we've to that's with out think serve well-positioned at in restaurant to talked tell really or early of and We're to doing home Tender relocate our pleased look on as It's going not off-premises our growth want too Shack that we equation, very finally, are build capacity we coming talked big they're is as ideas off-premises, going a to enables there And world the we of part we within where those that. where and Second, March about as our to least I'm can gains our we be That's a new And the goal Then that of off-premises our forward. too be tell of going call, Jeff, making. then dining, company. casual that's achieve growth and consumers about at But we of restaurant and talked and to capture we and to the

then each are I'll those to multi-channel, say one opportunities multi-concept and That be of the of for back. So business I for want us been turn with structural and opportunity. just more big really thing, a what And it pleased doing carryout responded delivery has and customer could off-premises. that to us piece Carrabba's a and in that permanent is will be offering. really I've

So it's really great to see.

Jeff Farmer

Thank for you that, David. Alright.

other follow-up. Just one

earlier business. the this another at on of So side cost crack really an is this question

million the additional in did So, settles in accelerated cost guys out lot an pieces of deliver and XXXX. some efforts. But $XX at we're the February, an you've moving the when backdrop, COVID looking dust those of to opportunity terms of Obviously, point the sort savings savings of a relative in in that net Chris, to in the But highlighted cost in in for that number of opportunity XXXX. that XXXX, on us? saving for benefit in terms this little cost a everything Can remains done thinking put you about you bit. you've you XXXX,

Christopher Meyer

question. I'm - understand of terms the In trying to

this million $XX the had we So year.

just next to good million of on talking. feel ability our We We have about both really would another year deliver - feel I we say, I those numbers. you're guess $XX

Jeff Farmer

had was saves. I saves, uncovered potential those if wasn't of just clarifying cost you additional cost maybe forward some pulled or sure some that. Okay. I

So we good XXXX? forward million a you to $XX is number the move still use question, answered as to

Christopher Meyer

like say modeling to about keep Yes. And of -- lot that. just as I not G&A. would I'd you're mind say, one things a thinking if year in was that thing and This

that majority vast In G&A. the fact, was

it be structures. the between little split and restaurants more Next year, G&A a might

David Deno

to about. And grow And can is, learned digital stop. Jeff, marketing Chris that he think lot we going going just stop. kinds we're never talked business and And how things. just we've about forward, of use non-financial different knows few we about that a to comments I for never We already, more and those efficiently. There's going all of a has the can

about done great just what and XXXX, already feel and going we XXXX So we've to we're in we moving. do keep what and can

Jeff Farmer

you. Thank

Operator

you. Thank

question Suisse. Lauren your Our comes Silberman of line with question. next with proceed Credit Please from

Lauren Silberman

you. Thank

You've better discount, you've the talked business managing made costs, about some the labor. like months, simplification, in pre-pandemic to changes marketing, recent of

to initiatives these these talk costs more have Or your saving cost come impact you discounts some or get back execution about can So the won't of as that that competitive? won't market negatively? confidence

David Deno

Sure.

a provide to we're things pandemic is and service customers. the to of of. that our during cost quite food we've great this do of serve One proud reached service think we've and And tried level we

measures, service to in a pandemic our in in and just measures because Top-X. we're in Fleming's the key we serving Fleming's taking Bonefish Newsweek Black safe the return. the XXXX that's number the surveys. care Outback out best the food, and is came are people focused our and Box Bonefish have environment. out, and If with out customer at look key and consumer came customers great with the and our their one we operators after that come are costs progress. in the on are two two priorities, of are significant our measures at, in Top-X in looking And intent making

these that stick going make sure really things we trying So, to are forward.

we've that what got on look return taking a And on investments overhead to we've talked think add care we back what seasoned really about far as a employees. be I and going of to learned we're spending, we're careful as when, the costs, lot. what what going knows spend and spending, our while very customer labor, back, at team adding marketing and the or Chris management look we like or costs, As we be because about

Lauren Silberman

as season And to There going here. of Thanks. sales capacity combination Is to the than restriction be just meaningful It sounds Great. to isn't subject in clarify from in markets reopened sales you And stall are But markets demand. you have resurgence that then improvement lifting differences regions, in see like cases? Florida called that trends further or strengthen on earlier. in more is that fair? and seen volatility further any across out trends, sales improvements? the

David Deno

have cases, -- these seen impact in any from markets. no resurgence We

talked goal our to safely capacity carry opportunity, And customers as and and markets. day part out week about we delivery, our the Our dine-in dining our of is earlier serve channel in achieving opportunity. opportunity, day expands

going pursue all So to we're that.

we from also capacity control can and as and So grow channels well. as learn expands, but different

Lauren Silberman

so much. Thanks Great.

Operator

you. Thank

Jon comes from proceed Tower Our Wells with next question. line of question with Fargo. Please your

Jon Tower

Great. Thanks for taking them.

follow few a Just ups.

to the On in it the rollout the the honed? Shack virtual sticking country the the is in Is And going even that branded far you Tender where to opportunity, perhaps should talk about brand how at with we Shack it's brand Tender Is just online? question terms strategy can being multi about of after Carrabba's think across respect that. forward? date? then obviously be so going to stay another though to going And

David Deno

all But team we going we're And a out the well that. pick start. markets like we therefore, we're restaurants of anticipate was the the and is are participate get for represented a earlier, place to felt far. job in that new that The us forward. the with in a I team, We're we -- go Carrabba's rolling Sure. said rollout, team very been Carrabba's pleased and Shack mentioned I And has fantastic Outback to The read Tender our The most best should thing important very off-premises. good as earlier, the we to results. menu. doing markets want

Jon Tower

and just like question solve the it's new such I see of margins it way costs How some Okay. of earlier, you're discounting mean, well. you're that that in questions help savings. constructed much Outback at some back going the And the for to a to does lower kind menu doing? and the discounting labor of as sounds some going

lowered prices key However, at the on some you've items. same time, some

if talk you it? a that through could little I'd maybe bit, appreciate So

David Deno

The the to through Outback a at did equation want value Yes. great menu basically Steakhouse address permanent team changes. We job.

few a of just So talk those. about let me

$X the If Onion, expensive. you it's Bloomin' less love

it's more. less love If get Aussie you expensive you and fries, Cheese

love our get you ribs, you If more.

up for If optimistic do the sirloin you the to gap stakes, meat, traffic also added this of we the increase. take closed identifying rate a if enable that out That's the is value Attachment What's and going why great to of what's to are want a and and trade team combos One, is Number our a of the two addresses the large also the changes more. pay higher Beer because get us mix cuts of is up. appetizers costs higher But are How up. base these we price. you did menu. at going equation, between ordered any cut higher are consumer so being wine will menu everything? is, Outback it about did to business bigger to without that we happening? one. number number job end great need, at happening steaks food the simplification up. liquor The is going of the

really person it our looking per looks great, great. really PPA Our guest check --

feel equation what good, from the value of to menu. and opportunity, we standpoint, is the all combine savings good That's also the the for a purpose when the but on about sales the time, So don't we cost that with gets the simplification you rely of out economically addresses very Jon, have what with us. customer discounting this,

Jon Tower

in your they of can buyback? balance how quickly going reinvestment be to down in I of it perhaps for start the sounds uses curious a that. reintroducing you down And levels you and am paying you debt and/or some relative sheet But pre-pandemic. And to at to time, reintroducing it. priorities priority. the then hear thank think business point pay obviously I debt turning or curious; top in dividend like are a back to And just cash, is obviously, appreciate terms your were I'm higher quickly the than debt

Christopher Meyer

Yes.

announced in to laid tell about what a by return of our mind. we really back been is shareholder that question thinking tenant we it performed were total included we really drive of increasing on you dose well, we comfortable felt long involved It down which where the place a to delayed to to that the heavier strategy dividend. metrics debt as lot in the out how is So And in February of get after a strongly them. our just every point of to about. obviously the tenants that pandemic. can when that that journey, that. would as There that with shares we term the still investors just down comes I agree my get it's relates were way paid your to credit with And It's

getting it's look, to that. about So back

there Now a to is to get pacing to your sequencing point, and that.

again, are situation at area mean, positive duration to turn term back dividend. where the But get know level a largely generating and in is Don't of the focus, on down the to we've the a cash. dependent that are length of timing our that. focus pandemic. been I short on and in We and a before again, comfortable going the levels on we debt we now debt pay an

into getting the business. cash down as been coming debt We we've paying flow been have

expect like going where in $XXX more have go not it do are Those years next of So us but At or our And year. the because spending we that point now. restriction to $XXX was -- were far to has thus QX been a CapEx, days little back a of agreement, in we're to keep we capital through time, us. million. expenditure revisions behind we would priority reinvest credit that the ago, have -- we also like three four not million to mind, I look, to in capital

going capital the I going advantage of of be opportunities. you, I debt So opportunities is, love armed have or if large to real those can that paid But you to with ready we're the what back be Ultimately, take estate spending are are place be back focus dividend and going there think to will in to well. would tell what us, levels we're to get behind that as on we down. though opportunistic,

Jon Tower

Awesome. Thank you.

Operator

you. Thank

of your America. Please Greg Our with next Frankfort from question Bank of comes with question. line proceed

Greg Frankfort

Maybe to last that one follow-up the Hey. question. quick for just Thanks one.

talk where the - difficult number may But that off-premise of for it. out can leverage delivery question figure quantification very I missed mix of is I about a had would when where to? the mix. does have you probably have Then it's go business recently in little think that you and timing is to you down. any I Thanks. how your stand targets get you going? can mind was, it's there for terms a But other off-premise or in mix or the that

Christopher Meyer

one. Yes. I'll with the start first

sense lease for adjusted the ratio company. So sort we kind And at long time, a that target that's over question. the think I'll the about term. then of let of answer we've to for Obviously, get for we're always would talked it makes But other where three that now. two a times being not leverage of lot our shoot right Dave we

David Deno

Yes.

third If with very in at bit times, mentioned being you and QX than mix, look I've being like both we're party the lower. Carrabba's XX% Bonefish see a delivery, our it's within what of we and higher own off-premise Fleming's partnership. and many And Outback with our and that channel pleased which our business -- delivery carryout and is

Greg Frankfort

maybe And on. one Got follow-up last it.

a talked come commodities or just efficiencies you inflation in gains how taken quantification of has efficiency some the guys sort efficiencies that much much you out been on been trying much doing. have down? guys Any the how or to Or little of on how you of You this of versus food found has food I'm about there? the Thanks. deflation waste think waste? food

Christopher Meyer

a number. big It's Yes.

the alone. to about of below X%, that historically just the think We've sometimes in We X% sales as in got or I cost you talk basis on that waste. if the factor worth a goods sold, low to waste which you the XX probably and that levels, of QX that on depending X.X%, lower, X%, give down waste record concept. fantastic. is tell perspective percentage I would we a higher you translate in always points, P&L saw improvement it's

Greg Frankfort

Thank you. it. Appreciate

Operator

you. Thank

proceed Please the Our next of question Capital Markets. Strelzik Andrew comes with from your question. with line BMO

Andrew Strelzik

you're I how kind of if you to over brands? side. these some the that share Shack opportunity? if or and that at about you share spend resourcing just incremental want trends you talk first curious question margin the when the don't obviously, for you some brands is Is of Grill. how at within sales time of Aussie on and scale? the My I'm morning. level. the And customer reallocation those Thank all, about the But kind know, really of could improvement, there corporate could thinking Tender maybe and if to there, that margin good And a legacy how brands context compares Great. and is broader just

David Deno

front, leaders when in brand. the for our that dedicated Aussie We've the Shack especially organization on effort, working the we success, with on it us to and we've both our that case, had we've terrific owned So, it. two are got Tender company team way got Grill, the a at always Tender to have Shack. that it And best closely at people working leading they're with closely dedicated

it's of seen. all within and we the numbers So context -- you've the

got it's for G&A, been to we've And the been opportunity introduce And it's and see. our us So, over term. an to able really long we've new these two opportunities. good

we goes, crowd. think customer the a as it'll far younger As be

somebody offer order people, seen we've that both. groups, large we've and to seen people we've single, seen And we

days, we to different a base of customer occasions. attractive types large early and So but see it

Andrew Strelzik

be? just helpful. a increase of an And that that That's little Can other my what in and and talk labor levers question is would on what bit And you you're get some wage, we the implications Great. offset of then kind terms event seeing of in turnover. the to the environment. about retention minimum in

Christopher Meyer

Sure.

comes and retention done, A really you where is the decision that etcetera. let has partner, this during one prepared see I I employees majority grateful go, levels fluid, that is is to the think And be have been for buck go. and good. people our one employee in-restaurant very all ready policy very a flexible going engaged demonstrated this think ready We'll we've turnover think I a we're our furlough at to we what $XX we go levels, fruition. managers, for thing of team and don't we large Our turnover There's organization. experienced whatever very company, members, off of our or levels wage, really, are A and really came there's minimum the and to know back, paid And hour. time base. dining made a very managing team thing, in management to we've were could make team as the not an

be and And ready ready. address be we'll it we'll to move So forward.

Andrew Strelzik

Okay. Thank you much. very

Operator

you. Thank

comes next question. from question Blair. your proceed Our Please of with Sharon Zackfia line with William

Sharon Zackfia

on breakeven pandemic? secondarily, that What then just been a during transactions uptick would And to profitability? And call be on or trending questions you sales? two morning, seen good has inflect the of How members into Hi, on the that International. kind percent rewards. as of have for dine the rewards any business back Just curious dine

David Deno

Yes. that's I'll anything Dine customers are they're Brazil of customers, that's -- but are XX.X loyal. it's because Dine our Rewards turn to for in, a us, than million piece. -- we coming entity more Rewards, a our valuable where question maybe our doing else, in the But extremely have members, minute over it's on operations. a it's International Chris up And

It's to we as program that. during a introduced learned and We time. information. in are our said And lot work I we're great we of Dine very to like we've marketing this They're really a few part And a Rewards going source terrific especially and been years is go continue ago, a before, we source of it's marketing, that's something them. to as revenue. with forward, been more helpful digital

Christopher Meyer

on fantastic. question. it a look, they're which can't breakeven They that would is just ago a U.S. Brazil different down I Brazil, than the talked already better imagine in like to the terms And number we even Yes. I volumes. little the where And their quarters needed again, given that. be there'd too in sales say, a do was then XX% the better that of business sales be we than much and I little on that Brazil range, couple range. XX% in cash positive maybe flow, in generating just about could

Operator

Thank you.

Gerber from comes proceed Please line Jared question Sachs. of Goldman a question. next Our your with with

Jared Gerber

question. the taking for Thanks morning. Good

why and pressure to me. results Fleming's Bonefish, business potentially could sort gatherings. makes or have strong potentially sort And that get And on applicable in either And somewhere from Just quarter, the is business up ones dynamics to why more we the some guys are given the potentially a you the side or off-premise less follow acceleration the move the into more we been wanted then as seeing what just two a there? see, Carrabba's sense some Thanks. related of maybe of business. of the so I fourth what quick of travel -- the holiday maybe with more business? it of that

David Deno

they Sure. a think of off-premise any off-premise. built. and great for Carrabba’s, those. that things delivery the brand as it's more also a both pizza with than And been in many to is other benefit that other mean, But team. hats having job I'll well. And they've business to have a that far they've take On mind-set culture great the form and Obviously, I done off on going the myself a that. years, done as one, this travel they've we opportunity. a job pasta and food

other off-premise. forums, Fleming's, seeing etcetera. especially mean, food Bonefish why. the on growth reason it's back job. points is got and the So Fleming's doing that's price It's Fleming's. think restaurants the I I in-restaurant it's, great consumer coming like the On The in at see the we team, affordable into dining. we're got a brands, And,

travel really, safe of have environment and season way. And But are Bonefish holiday don't some of to our we the in great in at before. just we well. really or provide at sales restaurant their really had some the trends you a if obviously doing the that week, have Now, the dining that the during a in home customer private are there of we during the really, we business can days Fleming's look and high hopes some

this revenue far and that those business. when the sales Fleming's be customer, we're that layer during and be And seeing to service business quarter, customer comes providing then But going expect that traveller doesn't job in the in that bills our so of -- part that's this to brands to business done the we time, grow back on. when able food to great we've continue So and numbers. add a the seen back, two of today great they're have a Fleming's has there'll

Jared Gerber

so much. Thanks

Operator

this and gentlemen, turn question comments. concludes ladies any you, Mr. back floor to the I'll our final and Thank Deno session. answer for

David Deno

for Take you you results. we care. joining our with Well look thank everybody. us We appreciate and today in updating February you QX to forward

Operator

Thank you. This concludes today's conference.

your disconnect You lines Thank for may time. at you this participation. your

Bloomin' Brands (BLMN) 23 Oct 202020 Q3 Earnings call transcript