Flat comp growth at Bloomin' Brands

|About: Bloomin' Brands (BLMN)|By:, SA News Editor

Bloomin' Brands (BLMN) reports flat comparable-restaurant sales growth in Q1 on lighter traffic trends.

Comp growth by concept: Outback Steakhouse +0.8%; Carraba's Italian Grill -1.8%; Bonefish Grill -1.5%; Fleming's Prime Steakhouse and Wine Bar +1.7%.

Restaurant-level margin fell 40 bps to 18.0% due to higher costs and commodity inflation.

The company sees FY14 EPS of $1.21 off of a 1% to 2% gain in comparable restaurant sales.