During its Q3, which ended Sept. 30, year-over-year same-store sales for the 904-restaurant chain dropped 1.4%. Total sales inched up to $600 million from $585 million. Outback has been particularly weak as of late in the Midwest and Northeast executives say.

To boost the chain's performance, the company will launch a new advertising campaign next year and has hired a new branding expert to tool with the restaurants' image. Other initiatives executives are considering are value-priced menus and extensive renovations of existing units. "We think the strategy is going to drive traffic," Allen says.

But besides Outback, the company's other concepts performed well during the quarter. Same-store sales rose 6.4% at the 189 Carrabba's Italian Grills, 13.4% at the 34 Fleming's Prime Steakhouse and Wine Bars, 7.2% at the 82-unit Bonefish Grill chain and 9.1% at its 19 Roy's restaurants.