Red Lobster CFO blames chain's 'Endless Shrimp' promotion for company's whopping $11M Q3 loss

Daily Mail ^ | 28 November 2023 | MARTHA WILLIAMS

[End Times Sentinel]

Red Lobster faced a staggering $11 million loss in the third quarter of 2023 - which the company's CFO is blaming on the restaurant's all you can eat shrimp deal.

Financial reports from the third quarter - running from July 1 through September 30 - showed the iconic American seafood restaurant's drastic downfall.

Red Lobster wanted to lure more customers in after facing a significant financial loss of $5.4 million in the second quarter - but they massively fumbled their plans by offering an 'all you can eat' promotion that was a bit too generous.

The 'Endless Shrimp' offer was initially a special - but in June it claimed a permanent spot on the Red Lobster menu, and for just $20 diners could indulge in as much of the shellfish as they could stomach.

Foot traffic at the chain restaurant increased by four percent after the deal popped up as a permanent offer in June.

[Graybeard58]

I can’t eat but 2 servings, even then I sometimes take some home.

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At an “all you can eat” place? Isn’t that theft?

[LittleBillyInfidel]

Great story - and thank you for the recipe! Perfect timing, as I have shrimp I need to cook, asap! I’ll do this tomorrow night! Best, Billy

[rlmorel]

Good Luck!