Posted on 11/28/2023 6:30:58 PM PST by 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.
(Excerpt) Read more at dailymail.co.uk ...
You're dealing with a census who's dining out experience is largely fast-food or institutional (schools, prisons, etc.)
They view a deal like that as a challenge to be defeated.
They see an offer like this, not as an offer for a fair exchange of goods and services, but a chance to rip the other party off.
It is a group that has no social disapproval for gluttony.
You roll out the red carpet for the wrong group, and you reap what you sow. McDonalds has made billions off of catering to this mob, but they don't cotton to being taken advantage of.
This article reminds me of “The Simpsons” where Homer goes to the all you can eat seafood restaurant.
The same demographic are the worst tippers.
I confess to being part of a pony-league baseball team that stopped at a restaurant offering all you can eat fried chicken. We only left when they ran out of food.
Exactly. These people are the last customers they should want. Gluttonous freeloaders. They are the same people who come in and get 20 rolls if they free at the table. Or have 8 fillups of a drink. And, usually cap it off with a stingy or no tip.
Stupid corporate people making hundreds of thousands per year wouldn’t be caught dead shoveling 50 shrimp in their pie hole. So they can’t imagine why it is a problem.
Lotta money for shrimp.
What?? Just salt the hell out of them like you did to the crab legs on Crabby Mondays! Problem solved! Sheesh.
DH was full after trying three of the offerings but the boys... They ate their way through every variety and did re-runs on two.
I know they lost money on our table but we did leave the waiter a nice tip.
Could have been worse. Could have been endless watermelon, or endless fried chicken.
It looks like the one on the left is giving me the finger.
I love endless shrimp, it’s the one thing I can really put away 5 or 6 refills worth. But I rarely do it anymore. I’m surprised they still do it at all.
The waiters also hate it, cause they’re constantly busy as hell and people don’t tip any more for it.
Endless collard greens and chitlins.
Sadly, I worked my way through six years of college for gratuities.
Insulting gratuities was more dependable than counting on them to vote democrat.
I never treated them any less than other guests, but if things were busy, they were the first to have corners cut... With one exception. If they told me they were "in the (hospitality) biz.", there was an unspoken understanding, I'd take care of them and they'd take care of me.
Just spitballing but I suspect Fat Stacey, Orca and Big Mike had a major hand in this outcome.
gosh, who woulda ever thunk that free food would bankrupt a restaurant chain!
“This article reminds me of “The Simpsons” where Homer goes to the all you can eat seafood restaurant.”
the first image that popped into my mind, too!
We would drink beer until closing whenever we ate there, driving home plastered.
what accounting doing???
No. I saw one in Colorado and thought how long it had been and that I used to like it. I went in and got the very worst service I think I have ever had at a restaurant. The food was poor in quality.
In this era of foodie women, Red Lobster simply needed to do their old menu well, and then give basic good service.
It was a total fail. They blamed it on employee shortages and that could be true. But I won’t be back.
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