Red Lobster's Failed Endless Shrimp Deal: A Costly Mistake
Red Lobster's decision to make its "Ultimate Endless Shrimp" deal a permanent menu fixture backfired as the discounted offer contributed to operating losses of over $11 million in the third quarter. The deal, which allowed diners to choose two types of shrimp dishes unlimitedly for $20, attracted more customers but resulted in financial missteps. Red Lobster's parent company, Thai Union Group, has since raised the price of the deal to $25 at all 670 restaurants, expecting a $20 million loss for 2023.