Red Lobster’s ‘ultimate’ endless shrimp deal backfires, costing company millions

Red Lobster announced its “ultimate endless shrimp” deal would become part of its regular menu back in June, a move it hoped would bring in more diners in the summer and fall, when its restaurants are at their emptiest. It worked, but it also left the company with an $11 million loss in their third quarter. Sean Previl explains how the company has adjusted the deal in an attempt to earn back profits, and why it’s still going to end up with a big loss going into 2024.

• Red Lobster’s endless shrimp deal backfires, chewing up $11M in profit