(RNN) - Bloomin' Brands of Tampa, which operates Outback, Carrabba's, Bonefish Grill and Flemings restaurants, announced it will close 43 underperforming restaurants in its Q4 earning statement on Friday.
The company operates about 1,500 restaurants nationwide and in 20 other countries.
For the fourth quarter, Bloomin' Brands reported a loss of $4.28 million, down from the previous year's profit of $17.7 million, Marketwatch reported.
"Although 2016 was a challenging year for both Bloomin' Brands and the industry, we made real progress on our strategy to reallocate spending away from discounting toward investments to strengthen brand health, " said Liz Smith, Bloomin' Brands CEO. "We are pleased with how our brands are performing so far in 2017, particularly at Outback where we believe our investments are beginning to gain traction."
Some restaurants already have been shuttered, including the following:
In 2016, 14 Bonefish Grill restaurants closed in response to shrinking sales, the Tampa Bay Times reported.
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