Jared [Indiscernible]'s questions to Bloomin' Brands Inc (BLMN) leadership • Q1 2025
Question
Jared from BMO asked if the current value offerings are working as intended across the brands amid the current macro environment and whether the guidance assumption for negative mix has changed. He also followed up on Outback's Aussie 3 Course, asking about guest trade-up behavior and the mix of customers at the entry-level price point.
Answer
CEO Mike Spanos reiterated that the value proposition, especially at Outback, requires ongoing work in the choppy macro environment, describing it as a fluid and iterative process. CFO Michael Healy confirmed the Aussie 3 Course had limited Q1 impact but expects it to drive traffic in the second half, which is factored into the negative mix assumption. He noted that they continue to see a 'nice trade-up' to the higher-priced tiers and on desserts, in line with expectations.