Business Red Lobster is offering an endless lobster feast. What should you know?

https://www.cnn.com/2024/02/21/business/red-lobster-endless-lobsterfest-price/index.html

https://lite.cnn.com/2024/02/21/business/red-lobster-endless-lobsterfest-price/index.html

https://archive.ph/P7V5A

By John Towfighi, CNN
Wed February 21, 2024

Craving lobster but weary of the price?

In celebration of its annual Lobsterfest, Red Lobster is giving 150 winners an “Endless Lobster Experience,” a two-hour complimentary feast of unlimited lobster, two sides and Cheddar Bay Biscuits.

The Florida-based chain is hardly the first retailer to use these kinds of stunts to get attention. But the Endless Lobster Experience comes at a tumultuous time: Red Lobster reported a record $12.5 million operating loss in the fourth quarter of 2023.

And in January, minority investor Thai Union Group announced its intent to exit Red Lobster, citing a $19 million loss from Red Lobster across the first nine months of 2023. The Covid-19 pandemic, high interest rates, rising costs and industry headwinds ultimately caused Red Lobster to have “negative financial contributions to Thai Union and its shareholders,” said Thiraphong Chansiri, the CEO of Thai Union Group, in a January 16 statement.

On a February 19 earnings call with analysts, Thai Union Group chief financial officer Ludovic Garnier updated the $19 million figure and said Red Lobster generated $22 million in losses for Thai Union Group across the entirety of 2023.

Chansiri confirmed on the earnings call that the company is in the process of selling its stake in Red Lobster and said the process could take three to four months. “We’re not expecting to get anything much from the sale,” said Chansiri, according to a FactSet transcript of the call.

A previous all-you-can-eat deal contributed to Red Lobster’s financial woes. In June, Red Lobster announced that its “Ultimate Endless Shrimp” deal would become a permanent menu item. Despite raising the initial price from $20, to $22 and to $25 across 2023, the popularity of the item and lack of new traffic factored directly into an $11 million operating loss for Red Lobster in the third quarter of 2023.

While Thai Union looks for buyers, Red Lobster continues with Lobsterfest — an annual event started by the chain in 1984.

Starting February 20 and while supplies last, 150 winners will have a chance to enjoy Red Lobster’s free feast. But there’s a caveat: The experience includes a maximum of 12 one-and-one-fourth pound Maine lobsters. If you make it past 12, you’ll be offered Maine lobster tails or Caribbean Rock lobster tails. While the food is free, beverages, tax and gratuity are not included.

In line with tradition, the Florida-based chain is offering 10 limited-edition menu items to celebrate Lobsterfest, including five new dishes such as the Crispy Lobster & Shrimp Stack and the Lobster Lover’s Duo.

The chance to win the Endless Lobster Experience will be advertised through Red Lobster’s social media channels, including Facebook, X, Instagram and TikTok.

As Red Lobster fans wait for their chance to win a feast, Chansiri, Thai Union’s chief executive, has no plans to indulge in the delicacy of the sea.

“Other people stop eating beef,” he said on Monday’s earnings call. “I’m going to stop eating lobster.”

 

[WelperHelper99]

Cioppino may be the single most delicious seafood dish ever invented and a long with its sour dough bread, is the best thing that San Francisco has ever produced.

Sourdough bread is actually fire. I could survive off that and water for years if I had to.

 

[Mitt Doggy Dogg]

Never ate at red lobster but 2 hours does not equal a endless anything.

 

[CHARizard]

Never ate at red lobster but 2 hours does not equal a endless anything.

Im sure 2 hours of serving 10 black people feasting on lobster feels endless to the waiters.

 

[WelperHelper99]

agree. Out of the shell or on a roll it's divine. Only thing is, lobster's are a BITCH to prepare yourself

Hense why restaurants are great for lobster. They cook it, I eat it, it's a win win.

 

[BunchOfCoconuts]

That sounds fucking vile. I see no difference between ripping open a crawfish and sucking out its innards and doing the same thing to a bug.

its from the ocean tho

i gotta look at the evolutionary pathways or watever, but the ocean is salt water, which is clean kinda, bugs on dry land are in a dirtier environment.

the ocean, seems like a great place to source food from.

 

[Mitt Doggy Dogg]

Im sure 2 hours of serving 10 black people feasting on lobster feels endless to the waiters.

I'm sure it does lol, do white people ever eat at Red Lobster? If I'm gonna spend that kinda money its logans or outback or something

 

[dustbuster]

do white people ever eat at Red Lobster?

2 decades ago, yes.
They kept taking anything decent off their menu until it was nigger tier.

Anyone remember when Red Lobster used to serve Swordfish?

 

[BunchOfCoconuts]

"researchers have come to a consensus that insects evolved from crustaceans’ ancestors"

so crustaceans evolved to live in the clean salt water ocean, before they got to my plate.

and insects split off from crustaceans and spent thousands of years evolving in the dirty ground.

eating Crustaceans is looking kinda based to me.

and the cooked flesh from shrimp and lobster looks and smells appetizing, its like the ancient part of my brain is trying to tell me something.

@The Evil Midnight Bomber

 

[Heed Not]

>brings you a lobster tail every 75 minutes
Yeah no. Red Robin can't even be assed to refill your "unlimited" plate of seven French fries more than once an hour. Anyone treating this as anything more than a cheddar bay biscuit buffet is bound to be disapppointed.

 

[Lobster Cult High Priest]

It's a trap avoid Red Lobster as it will be infested with Niggers.

 

[W00K #17]

The catch is the lobsters are feasting ... on you! (And unlimited cheddar biscuits and two sides.)

They sell a mix in stores for them for pretty cheap. Pretty darn good, to.

 

[Agent Abe Caprine]

I've never seen one person eat it after seeing for themselves what wild lobsters actually eat

Pussies. Bet a lot of them are fine eating pigs, which eat just as much nasty stuff.

 

[Android raptor]

Sea bugs. Ew. Never been a fan.
Fun fact: lobster used to be super low class food, considered suitable only for widows and orphans who were poor and starving.

I wish it would go back to that so I could have it more

 

[Barry McKockner]

Lobster was low class food because they were harvested after they washed up dead on the beach (aka dead and spoiled). When people realized you had to boil them alive, they found the taste much more pleasant.


You can pry my crawfish, shrimp, and crab boils from my cold dead hands. I will also never eat lobster in the northeast again. Fucks have never heard of seasoning the boil water, much less letting them soak. Had lobster rolls one time in Connecticut and it was god awful bland. If I wanted a butter delivery system, I would eat toast.

 

[Fried-Rice12]

Having said that you couldn't pay me to eat lobster under any circumstances. I'd rather starve. I've never seen one person eat it after seeing for themselves what wild lobsters actually eat

Lobsters do scavenge carcasses (which is how they are caught, as lobster traps use dead fish as bait) but they also eat each other. I have seen it a few times in my workplace where a dead lobster is being gnawed on by other lobsters in the tank.
In other news, chickens eat ze bugs. Pigs are fed literal garbage in many US states.
At this rate, you should declare yourself a vegan if you have not already done so.

You can pry my crawfish, shrimp, and crab boils from my cold dead hands. I will also never eat lobster in the northeast again. Fucks have never heard of seasoning the boil water, much less letting them soak.

I disagree. You want to enjoy the taste of the lobster itself, not the myriad seasonings used in these powders and liquids.
An old saying my mother taught me regarding fish and seafood goes like this: "If the flavoring/seasoning is strong, then it is likely to cover up the smell of death/rot/decay. If you want to taste the fish and/or seafood itself and how fresh it is, chose a light tasting recipe."
However I do enjoy a Chinese lobster recipe that involves garlic, green union, and vermicelli that brings out the natural flavor of the lobster.

 

[CircuSphere]

Lobsters do scavenge carcasses (which is how they are caught, as lobster traps use dead fish as bait) but they also eat each other. I have seen it a few times in my workplace where a dead lobster is being gnawed on by other lobsters in the tank.
In other news, chickens eat ze bugs. Pigs are fed literal garbage in many US states.
At this rate, you should declare yourself a vegan if you have not already done so.

This is the economic beauty of meat/live stock and what the eat zee bugs people and the soy + salt + 300 chemicals and dyes crowd doesn't seem to comprehend.

You can feed chickens from bugs fed on organic trash then eat the chickens and eggs, you cannot directly eat bugs fed on organic trash because you need to know the gut contents of said bugs (which are consumed whole or powdered) are human safe. The bugs that are sold as novelties are raised on prime feed grain.

All the food thrown out in a Vegas buffet is all stewed together and brought to a boil before it is fed to pigs, this is safe because it's all been recooked.

 

[Pokemon Conquistador]

Who goes to Red Lobster anymore when the local Fresh Thyme has it and crab for 6.99 a pound? I can even find dungeoness crab in my area for less than ten dollars a pound. Make some potatoes, some Cheddar Bay Biscuits from a mix, some veggies and viola. The only thing I liked from Red Lobster was the cheese fondue and they got rid of that years ago. (I was able to make a replacement fondue using velveeta, cream of shrimp soup and red pepper. Highly processed, yes, but surprisingly good for what it is.)

 

[Barry McKockner]

I disagree. You want to enjoy the taste of the lobster itself, not the myriad seasonings used in these powders and liquids.
An old saying my mother taught me regarding fish and seafood goes like this: "If the flavoring/seasoning is strong, then it is likely to cover up the smell of death/rot/decay. If you want to taste the fish and/or seafood itself and how fresh it is, chose a light tasting recipe."
However I do enjoy a Chinese lobster recipe that involves garlic, green union, and vermicelli that brings out the natural flavor of the lobster.

I want my lips to tingle and my tongue to be in heaven.

Who goes to Red Lobster anymore when the local Fresh Thyme has it and crab for 6.99 a pound? I can even find dungeoness crab in my area for less than ten dollars a pound. Make some potatoes, some Cheddar Bay Biscuits from a mix, some veggies and viola. The only thing I liked from Red Lobster was the cheese fondue and they got rid of that years ago. (I was able to make a replacement fondue using velveeta, cream of shrimp soup and red pepper. Highly processed, yes, but surprisingly good for what it is.)

I hate fancy restaurants and we love the biscuits. I catch and clean my own seafood every week, but once in a while it's nice to go out. I can cook whatever main dish I'm getting on my own. Sometimes it's just nice not to.

 

[Xarpho's Return]

And in January, minority investor Thai Union Group announced its intent to exit Red Lobster, citing a $19 million loss from Red Lobster across the first nine months of 2023. The Covid-19 pandemic, high interest rates, rising costs and industry headwinds ultimately caused Red Lobster to have “negative financial contributions to Thai Union and its shareholders,” said Thiraphong Chansiri, the CEO of Thai Union Group, in a January 16 statement.

On a February 19 earnings call with analysts, Thai Union Group chief financial officer Ludovic Garnier updated the $19 million figure and said Red Lobster generated $22 million in losses for Thai Union Group across the entirety of 2023.

Chansiri confirmed on the earnings call that the company is in the process of selling its stake in Red Lobster and said the process could take three to four months. “We’re not expecting to get anything much from the sale,” said Chansiri, according to a FactSet transcript of the call.

Thai Union has no business operating seafood chain restaurants.

Remember, Red Lobster was bought in the late 1960s as the genesis to General Mills' restaurant group (they had a whole diversification thing going, with toys, furniture, and retail stores) and was the crown jewel of that division even after spinning off the restaurant division as Darden Restaurants in 1995. However, things changed and in 2014 Darden dumped it.

The problem is that chain restaurants at a certain point have to figure out how to reinvent themselves or implode, and Red Lobster is at the point where it can no longer be quasi-upscale seafood for the masses.

 

[Super-Chevy454]

The problem is that chain restaurants at a certain point have to figure out how to reinvent themselves or implode, and Red Lobster is at the point where it can no longer be quasi-upscale seafood for the masses.

Now then you mention it and it's time to bump with the news then Red Lobster shuts 50 locations but another article mentioned 99 locations.

https://www.nbcnews.com/business/consumer/red-lobster-closing-50-locations-what-cities-why-rcna152159

At least 99 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain's long-term future.

In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a liquidation firm, announced he was leading the closure of more than 50 Red Lobster locations, with the restaurants' equipment to be auctioned off.


A web page dedicated to the liquidations showed closure locations across the U.S. including in Denver; Indianapolis; Rochester, New York; Sacramento, California; San Antonio; and San Diego.

On Tuesday, Restaurant Business Magazine reported 99 locations were closing.