Executives are considering future initiatives, about which they were not specific, for the 926-unit Outback chain. This follows a consumer study on the restaurants that shows, among other things, that the restaurants are facing stiff competition from other chains.

"Outback has a very loyal fan base, but it's beginning to suffer some subtle brand erosion," Allen says. "We've got to reverse this narrowing-appeal issue." One possible remedy he did mention was the renovations of its stores, which is a 12-to-18-month process.

Meanwhile, the company is opening 125 new restaurants this year and plans to step up its marketing efforts. Other than the Outback chain, it operates 205 Carrabba's Italian Grills, 103 Bonefish Grills, 40 Fleming's Prime Steakhouse and Wine Bars, 32 Cheeseburger in Paradise units, and 21 Roy