Shares of Bloomin' Brands (BLMN -18.8%) are in a steep fall after a weak Q2 report and soft guidance from the restaurant chain operator.
The company sees EPS of $1.05-$1.10 for FY14 vs. $1.23 consensus.
News of the company's expansion into Brazil for the Cabbarra concept hasn't helped to stem the selling pressure.
During the firm's earnings call, execs seemed surprised that sales didn't recover after harsh weather kept traffic down in Q1. Some restaurants analysts would say a shift in consumer preferences toward fast-casual was more at play.