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Bloomin' Brands Cooks Up First-Quarter Earnings Beat

Rob Lenihan

heated up Friday after the restaurant chain operator beat Wall Street's first-quarter earnings expectations same-store sales in the U.S. jumped. The Tampa, Florida-based company, which operates Outback Steakhouse, Bonefish Grill, and other chains, reported first-quarter earnings of $64.3 million, or 69 cents a share, with adjusted earnings coming to 75 cents a share. The increase in revenue was primarily due to higher U.S. comparable restaurant sales and the net impact of restaurant openings and closures, the company said, which were partially offset by foreign currency translation.