010648 Outback Steakhouse Comments on OutlookJune 26, 2001Tampa, FL - Outback Steakhouse, Inc. said that analysts' earnings expectations have not sufficiently factored in lower than expected same-store sales growth and higher than expected costs of goods sold. Ingredient costs have been hurt by unusually high dairy costs and by the effect of using domestic pork ribs in the place of less expensive imported product. These items are expected to add 60-70 basis points to cost of goods sold for the quarter ending June 30. The Company has previously announced actual monthly same store sales results for April and May. Outback Steakhouse, Inc. operates 698 Outback Steakhouses, 86 Carrabba's Italian Grills, seven Fleming's Prime Steakhouse and Wine Bars, seven Roy's, two Zazarac and one Lee Roy Selmon's in 49 states and 20 countries internationally.
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