On this page of StockholderLetter.com we present the latest annual shareholder letter from Bloomin' Brands, Inc. — ticker symbol BLMN. Reading current and past BLMN letters to shareholders can bring important insights into the investment thesis.
2024 ANNUAL REPORT
Dear Stockholders, This has been a challenging year for the Company, and we recognize that our performance has not met expectations. We are fully committed to taking proactive steps to drive improvement moving forward. We need to refocus on our core competencies delivering great food with outstanding service. To accomplish this, we will address three areas: improving our quality, providing abundant everyday value, and consistently executing with excellence. We will invest in center of the plate quality, refine our marketing message to communicate that value, and measure guests intent to return. As I initially assessed the business and spent time working in the restaurants, it became clear that the Company would benefit from simplifying the agenda. Our first action was entering into a strategic partnership with Vinci Partners for our Brazil operations. Combining powerful classic brands with local capability and expertise is the optimal business model. This will maximize future growth abroad and provide a more stable revenue stream to reinvest in the U.S. business as we shift our focus to improving domestic operations. Casual dining is a proven category, and all of our brands have a long runway for sustainable growth. We know we have hard work to do moving forward to improve our execution. In 2025, you have my commitment that we will be disciplined stewards of capital, strategic in our decision-making, and transparent in our progress as we operate with a guest-centric operations mindset to realize sustainable traffic. I appreciate your support as I, with very dedicated operators, improve the performance of this great Company. Sincerely, Mike Spanos
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BLMN Shareholder/Stockholder Letter Transcript:

2024
ANNUAL
REPORT

Dear Stockholders,
This has been a challenging year for the Company, and we recognize that our performance has not met
expectations. We are fully committed to taking proactive steps to drive improvement moving forward.
We need to refocus on our core competencies     delivering great food with outstanding service. To accomplish this,
we will address three areas: improving our quality, providing abundant everyday value, and consistently executing
with excellence. We will invest in center of the plate quality, refine our marketing message to communicate that
value, and measure guests    intent to return.
As I initially assessed the business and spent time working in the restaurants, it became clear that the Company
would benefit from simplifying the agenda. Our first action was entering into a strategic partnership with Vinci
Partners for our Brazil operations. Combining powerful classic brands with local capability and expertise is the
optimal business model. This will maximize future growth abroad and provide a more stable revenue stream to
reinvest in the U.S. business as we shift our focus to improving domestic operations.
Casual dining is a proven category, and all of our brands have a long runway for sustainable growth. We know we
have hard work to do moving forward to improve our execution.
In 2025, you have my commitment that we will be disciplined stewards of capital, strategic in our decision-making,
and transparent in our progress as we operate with a guest-centric operations mindset to realize sustainable traffic.
I appreciate your support as I, with very dedicated operators, improve the performance of this great Company.
Sincerely,
Mike Spanos



shareholder letter icon 3/4/2025 Letter Continued (Full PDF)
 

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