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OSI narrows loss as Outback Steakhouse traffic picks up

OSI Restaurant Partners Inc., the Tampa owner of Outback Steakhouse, narrowed its third-quarter loss despite revenues dipping 11 percent to $835 million.

Credit increased traffic and cost-cutting that offset lower pricing aimed at luring more diners.

The company's loss was $20 million, down from $47 million a year ago.

Among the company's brands, sales in stores open more than a year, a sign of a retailer's hold on its customers, were down 11 percent at Outback, 8 percent at Carrabba's Italian Grill, 6 percent at Bonefish Grill and 18 percent at Fleming's Prime Steakhouse & Wine Bar.

OSI narrows loss as Outback Steakhouse traffic picks up 11/16/09 [Last modified: Monday, November 16, 2009 2:19pm]

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