Bloom or bust? Restaurant firm faces investor discontent

Bloomin’ Brands, the Tampa company that owns popular restaurant chains Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar, has come under fire from one of its investors, New York-based hedge fund Barington Capital Group.

Barington blames Bloomin’ CEO Liz Smith, who also serves as board chairwoman, for the company’s lack of growth and shareholder value over the past few years, which has seen annual revenue decline from $4.44 billion in 2014 to $4.21 billion in 2017. Bloomin’ Brands’ stock price has also slumped, declining by 8.34% this year. As of Oct. 26, Bloomin’ shares were trading at $19.41.