Outback Steakhouse Just Launched Its Lowest-Priced 3-Course Meal
There's been no shortage of value meals cropping up at restaurant chains this summer. But this one will particularly delight steak fans.
Outback Steakhouse just introduced its new Aussie Aussie Aussie deal, which starts at $14.99 and stands as the chain's lowest-priced offering of the year. This three-course meal includes a soup or salad, a choice of a select entrée served with one steakhouse side, and a slice of New York-style cheesecake. The chain's most recent three-course Aussie Aussie Aussie deal started at $16.99.
Entrée options include the Bloomin' Burger (1,140 calories), Gold Coast Coconut Shrimp (500 calories), Grilled Shrimp on the Barbie (630 calories), a six-ounce center-cut sirloin (420 calories), Grilled Chicken on the Barbie (520 calories), hand-breaded chicken tenders (1,000 calories), an eight-ounce center-cut sirloin (400 calories), Bloomin' Fried Chicken (970 calories), and a half rack of ribs (720 calories).
This new deal is only available for dine-in customers, and prices and product participation may vary.
"We are not adjusting our strategy to go after deep discounting, rather we feel this is the best for the strength and the health of a brand long-term," David Deno, CEO of Outback's parent company Bloomin' Brands, said during an earnings call on Aug. 6. "We are focused on delivering offerings that are only available at Outback."
Deno said the chain has already seen positive results with the new $14.99 deal. Looking ahead, the company expects to launch additional limited-time offerings with similar pricing.
The rollout of the $14.99 Aussie Aussie Aussie deal comes as Outback seeks to boost traffic. The steakhouse chain experienced a 0.1% decrease in same-store sales year-over-year last quarter, while traffic declined by 3.8%. Deno said the casual dining industry was "softer than expected" during the period.
In addition to launching a new value meal, Outback is focusing on simplifying its menu by reducing the number of items and targeting "higher satisfaction menu items" that resonate with guests. The chain is simultaneously looking to add "new differentiated items that provide abundant value."
To enhance its service model, Outback has deployed new grills and server handhelds and is "building on these investments," according to Deno. The steakhouse chain is also looking to boost its competitive advantage by improving its multi-channel advertising strategy to reach and communicate with guests better.
In terms of the chain's physical presence, Bloomin' Brands plans to remodel 60 to 65 new restaurants and open 40 to 45 new ones this year, with 15 of these being Outback locations.
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