Bloomin' Brands Business Summary

Bloomin' Brands, Inc. (BLMN) operates as a premier global casual dining company, generating the vast majority of its revenue—approximately 95%—through direct food and beverage transactions at company-owned restaurants, supplemented by franchise royalties and wholesale retail sales. The company manages its operations through two primary reportable segments: U.S. and International. Its core portfolio comprises four distinct founder-inspired brands: Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. Within the competitive landscape, Bloomin' Brands contends with major industry peers such as Darden Restaurants, Texas Roadhouse, and Brinker International. While maintaining a massive global footprint of over 1,450 locations, the company is currently positioned in a strategic turnaround phase, focusing on menu simplification and asset optimization to reverse recent market share erosion and traffic declines relative to high-growth casual dining competitors. Originally founded in 1988 by Chris Sullivan, Robert Basham, Tim Gannon, and Trudy Cooper, the company is now led by Chief Executive Officer Michael Spanos, who brings significant consumer-sector pedigree from his previous roles as CEO of Six Flags and a long-standing executive at PepsiCo. The financial strategy is overseen by Executive Vice President and CFO Eric Christel, a veteran of the company’s internal finance leadership. The Board of Directors is chaired by R. Michael Mohan, former President and COO of Best Buy, and includes notable activist representation from Jonathan Sagal, a partner at Starboard Value LP, which holds a significant stake in the firm. Reflecting a continued focus on operational expertise, the board recently expanded in February 2026 to include Colleen Keating, the current CEO of Planet Fitness, to bolster the company's franchising and guest-experience initiatives.