Many fast-food chains have closed restaurants recently, but sit-down dining has also suffered. Even old favorites such as Outback Steakhouse have announced that they are closing some locations.
Outback shuttered many restaurants in several states in 2024 due to declining sales and traffic. If the location near you has closed, you can save money by eating out less. But that likely does not make you feel much better about losing a favorite haunt.
Let’s explore why Bloomin’ Brands — Outback’s parent company — decided to close several steakhouses, which ones were closed, and what customers can expect going forward.
Earn $200 cash rewards bonus with this incredible card
There's a credit card that's making waves with its amazing bonus and benefits. The Wells Fargo Active Cash® Card(Rates and fees) has no annual fee and you can earn $200 after spending $500 in purchases in the first 3 months.
The Active Cash Card puts cash back into your wallet. Cardholders can earn unlimited 2% cash rewards on purchases — easy! That's one of the best cash rewards options available.
This card also offers an intro APR of 0% for 12 months from account opening on purchases and qualifying balance transfers (then 20.24%, 25.24%, or 29.99% Variable). Which is great for someone who wants a break from high interest rates, while still earning rewards.
The best part? There's no annual fee.
Why are Outback Steakhouse restaurants closing?
![beef steak with wine glass](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/beef-steak-with-wine-glass.jpg)
Company representatives have cited a number of factors behind the closures, including decreased customer traffic and sales.
Bloomin’ Brands saw a 0.2% decline in same-store sales in the fourth quarter of last year. Net profit was $43.3 million in the last quarter of 2023, down from $58 million in the last quarter of 2022.
The company announced on one of its most recent earnings calls that driving same-store sales higher at Outback will be a top priority in the future.
In total, 41 restaurants were closed. In addition to Outback, this includes other Bloomin’ Brand restaurants, such as Carrabba’s Italian Grill and Bonefish Grill.
Where are Outback Steakhouse restaurants closing?
![steak grilled medium rare](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/steak-grilled-medium-rare.jpg)
The company has not released a full list of closures. However, from local news reports, we know that stores have closed in Pennsylvania, Illinois, Florida, Michigan, Ohio, and Iowa.
In addition, every Outback Steakhouse in Hawaii and New Hampshire has shut down. Outback Steakhouse currently has 677 locations across the U.S.
When are Outback Steakhouse restaurants closing?
![grilled ribeye steak](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/grilled-ribeye-steak.jpg)
As of Feb. 23, all 41 restaurant closures owned by Bloomin’ Brands were completed. No other 2024 closings have been announced at this time.
The restaurants that have closed were underperforming locations, according to Bloomin’ Brands.
Stop overpaying when you shop online
Shopping online has its perks. It's super convenient, but it can be time consuming to find the best deals. Instead of hunting for coupon codes (that don't always work!) and opening tons of browser tabs comparing prices, you can try Capital One Shopping.
Capital One Shopping makes saving money effortless. Just add the browser extension and when you check out, it'll scour the internet for coupon codes to help you save cash. And before you check out at 25+ major retailers, Capital One Shopping will notify you with a friendly pop-up if the item you're buying is available cheaper somewhere else.
Capital One Shopping is free to use and won't show you ads. Add it today and stop overpaying!1
How many Outback Steakhouse restaurants are opening?
![steak and lobster with asparagus](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/steak-and-lobster-with-asparagus.jpg)
While Bloomin’ Brands has closed 41 locations, the news isn’t all grim: In fact, the company is opening enough new restaurant locations to offset the loss.
During the most recent earnings call, David Deno, CEO of Bloomin’ Brands, announced that the company plans to open 40 to 45 new restaurants across the system in 2024.
It’s unclear how many of these will be Outback Steakhouses and how many will be other restaurants that Bloomin’ Brands owns. But it is still encouraging news for customers.
Which other Bloomin' Brands restaurants are closing?
![tasty steak in a restaurant](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/tasty-steak-in-a-restaurant.jpg)
As mentioned previously, Outback's parent company also owns other restaurant chains, including Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar.
While we don't have a breakdown of exactly how many locations each brand is closing down, local reports note that Bonefish Grill locations in New Jersey and Virginia have closed, along with at least three Carrabba's restaurants in New York state.
Can you get a refund on your Outback Steakhouse gift card?
![medium rare beef steak](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/medium-rare-beef-steak.jpg)
If your nearest Outback Steakhouse has closed its doors and you have an Outback gift card, you may be able to get a refund on the balance.
Email the company gift card department at GiftCardTeam@BloominBrands.com with your name, address, and photos of the front and back of the card. While it’s in your interest to act quickly to get a refund, the company hasn’t published a time limit for issuing one.
More about Outback Steakhouse
![filetsteak](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/filetsteak.jpg)
Despite its inspiration from the “land down under,” Outback Steakhouse got its start in Tampa, Florida, in 1988.
The restaurant is famous for its steaks (of course), ribs, chicken, seafood, pasta, and the iconic Bloomin’ Onion — a 1-pound onion partially sliced into 200 petals, battered, and deep-fried into a flowering, mouth-watering appetizer.
One could argue that this starter dish is more famous than the steaks, as one-quarter of appetizers ordered at Outback are Bloomin’ Onions.
Bottom line
![outback steakhouse restaurant building exterior](https://cdn.financebuzz.com/filters:quality(75)/images/2024/03/18/outback-steakhouse-restaurant-building-exterior.jpg)
While the fact that several beloved Outback Steakhouse restaurants are closing is hardly good news, the company’s plan to open more new restaurants is encouraging.
And if your Outback is closing and no new restaurant is expected to open in your area, cheer up: Use the money you save from not eating out to crush your debt in 2024.
Lucrative, Flat-Rate Cash Rewards
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
Wells Fargo Active Cash® Card
Current Offer
$200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Rewards Rate
Earn unlimited 2% cash rewards on purchases
Benefits
- Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Cell phone protection benefit (subject to a $25 deductible)
- Can redeem rewards at an ATM for literal cash
Drawbacks
- Foreign transaction fee of 3%
- No bonus categories
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.