Revenue during the quarter dropped 4.30 percent to $1,004.15 million from $1,049.30 million in the previous year period. Gross margin for the quarter expanded 106 basis points over the previous year period to 69.06 percent. Operating margin for the quarter stood at negative 0.41 percent as compared to a positive 3.04 percent for the previous year period.

Operating loss for the quarter was $4.14 million, compared with an operating income of $31.92 million in the previous year period.

However, the adjusted operating income for the quarter stood at $56.80 million compared to $62.61 million in the prior year period. At the same time, adjusted operating margin contracted 31 basis points in the quarter to 5.66 percent from 5.97 percent in the last year period.

"Although 2016 was a challenging year for both Bloomin Brands and the industry, we made real progress on our strategy to reallocate spending away from discounting toward investments to strengthen brand health," said Liz Smith, chief executive officer. "We are pleased with how our brands are performing so far in 2017, particularly at Outback where we believe our investments are beginning to gain traction."

For financial year 2017, the company projects diluted earnings per share to be in the range of $1.34 to $1.41. For financial year 2017, the company projects diluted earnings per share to be in the range of $1.40 to $1.47 on adjusted basis.