BLMN - Bloomin' Brands slides after warning on inflation pressures

Bloomin' Brands (NASDAQ:BLMN) trades lower after warning that it sees inflationary pressures in the business. Higher wage pressures and retention efforts, as well as increased commodity inflation are all noted. The restaurant operator says it has levers available to combat the headwinds and achieve its margin targets. Looking ahead, Bloomin' Brands (BLMN) sees Q4 revenue of at least $1.02B vs. $1.11B consensus and expects EPS of at least $0.50 vs. $0.68 consensus. Shares of BLMN are down 4.70% premarket to $21.51 vs. the 52-week trading range of $14.19 to $32.81. See the valuation marks on the restaurant stock.

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Bloomin' Brands slides after warning on inflation pressures