Bloomin' Brands Bears The Brunt Of Softer Spending Environment, Analyst Cautions On Traffic/Margin Tensions
Bloomin' Brands Bears The Brunt Of Softer Spending Environment, Analyst Cautions On Traffic/Margin Tensions
BMO Capital Markets analyst Andrew Strelzik reiterated the Market Perform rating on Bloomin' Brands, Inc. (NASDAQ:BLMN), lowering the price target to $24 from $25.
BMO Capital Markets分析师安德鲁·斯特雷尔齐克重申了Bloomin'Brands, Inc.（纳斯达克股票代码：BLMN）的市场表现评级，将目标股价从25美元下调至24美元。
The company reported third-quarter FY23 sales growth of 2.3% year-on-year to $1.079 billion, missing the analyst consensus estimate of $1.085 billion.
该公司报告称，2023财年第三季度销售额同比增长2.3％，达到10.79亿美元，未达到分析师共识估计的10.85亿美元。
According to the analyst, valuation looks undemanding and margin management has been reliable.
根据分析师的说法，估值似乎要求不高，利润管理也很可靠。
That said, the analyst highlights comp risk from the macro environment and remains concerned about positioning into a potentially softer spending environment, particularly with Outback traffic lagging.
尽管如此，这位分析师强调了宏观环境带来的补偿风险，并仍然担心在可能疲软的支出环境中定位，尤其是在内陆交通滞后的情况下。
In addition, traffic/margin tensions could be rising with increasing ad spend and larger-scale reinvestment cannot be ruled out, the analyst adds.
此外，分析师补充说，随着广告支出的增加，流量/利润率紧张局势可能会加剧，不能排除更大规模的再投资的可能性。
The analyst remains on the sidelines on BLMN shares given category (sentiment) and company-specific (relative comps) dynamics.
鉴于类别（情绪）和公司特定（相对比率）动态，分析师仍对BLMN股票持观望态度。
Casual diners are not the analyst's preferred near-term opportunities in Restaurants, but Strelzik's preference in the category remains other inexpensive peers such that have company-specific internal help drivers already in motion, such as Brinker International, Inc. (NYSE:EAT) and Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY).
休闲食客并不是分析师在餐厅的首选短期机会，但Strelzik在该类别中的偏好仍然是其他廉价的同行，例如Brinker International, Inc.（纽约证券交易所代码：EAT）和戴夫和巴斯特娱乐公司（纳斯达克股票代码：PLAY），这些公司已经开始考虑特定公司的内部帮助驱动因素。
The analyst notes that Starboard's involvement creates upside risk, but a conservative approach is warranted given concerns over Outback competitive positioning, potential that broader reinvestment could be needed to improve Outback performance at the expense of margins, and the likely extended timeline in which turnaround efforts could drive improved performance.
这位分析师指出，Starboard的参与会带来上行风险，但考虑到对内陆竞争地位的担忧、可能需要更广泛的再投资以牺牲利润率来改善内陆地区的业绩，以及可能延长转型努力推动业绩改善的时间表，因此有必要采取保守的态度。
Price Action: BLMN shares are trading lower by 1.73% to $22.71 on Wednesday.
价格走势：周三，BLMN股价下跌1.73％，至22.71美元。