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分析師安德魯·斯特雷爾齊克重申了Bloomin'Brands, Inc.（納斯達克股票代碼：BLMN）的市場表現評級，將目標股價從25美元下調至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.
該公司報告稱，2023財年第三季度銷售額同比增長2.3％，達到10.79億美元，未達到分析師共識估計的10.85億美元。
According to the analyst, valuation looks undemanding and margin management has been reliable.
根據分析師的說法，估值似乎要求不高，利潤管理也很可靠。
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.
儘管如此，這位分析師強調了宏觀環境帶來的補償風險，並仍然擔心在可能疲軟的支出環境中定位，尤其是在內陸交通滯後的情況下。
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，分析師補充說，隨着廣告支出的增加，流量/利潤率緊張局勢可能會加劇，不能排除更大規模的再投資的可能性。
The analyst remains on the sidelines on BLMN shares given category (sentiment) and company-specific (relative comps) dynamics.
鑑於類別（情緒）和公司特定（相對比率）動態，分析師仍對BLMN股票持觀望態度。
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).
休閒食客並不是分析師在餐廳的首選短期機會，但Strelzik在該類別中的偏好仍然是其他廉價的同行，例如Brinker International, Inc.（紐約證券交易所代碼：EAT）和戴夫和巴斯特娛樂公司（納斯達克股票代碼：PLAY），這些公司已經開始考慮特定公司的內部幫助驅動因素。
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.
這位分析師指出，Starboard的參與會帶來上行風險，但考慮到對內陸競爭地位的擔憂、可能需要更廣泛的再投資以犧牲利潤率來改善內陸地區的業績，以及可能延長轉型努力推動業績改善的時間表，因此有必要採取保守的態度。
Price Action: BLMN shares are trading lower by 1.73% to $22.71 on Wednesday.
價格走勢：週三，BLMN股價下跌1.73％，至22.71美元。