Why Bloomin' Brands Stock Is Trading Lower Today

Bloomin' Brands, Inc. BLMN shares are trading lower after the company reported combined U.S. comps down 42.2% during the week of May 10 and down 28.3% for the week ended June 6.

'We are encouraged by these sales trends as we begin to reopen our dining rooms. By the end of the month, we expect to have substantially all our domestic restaurant dining rooms opened with limited seating capacity," said CEO David Deno.

Bloomin' Brands is one of the largest casual dining restaurant companies in the world with a portfolio of leading, differentiated restaurant concepts.

Bloomin' Brands' stock was trading down 11.26% at $10.80 on Thursday at the time of publication. The company has a 52-week high of $24.29 and a 52-week low of $4.54.