Quick Glance: Red Lobster Adjusts Price for Unlimited Shrimp Promotion
- The parent company of Red Lobster, Thai Union Group, has disclosed that the seafood chain experienced unexpectedly high losses in the third quarter due to the $20-shrimp promotion not being very profitable and more popular than expected.
- The 'All-You-Can-Eat' shrimp promotion has been around for years, but this year it was changed from a limited-time offer to a permanent one.
- The company aimed to increase sales in the third and fourth quarters when business usually slows down.
- In response, the company gradually increased the price for the shrimp from $20 to $22 and now to $25.
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