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Red Lobster Raises Price For Its Endless Shrimp In Wake Of $11 Million Operating Loss

via Delish on Youtube

Seafood restaurant chain Red Lobster raised the price of its endless shrimp offer from $20 to $25 due to an $11 million operating loss in the third quarter.

The promotion was more popular than expected, leading to higher costs.

The company aims to retain the iconic offer while being more cautious about pricing.

“The proportion of the people selecting this promotion was much higher compared to expectation,” said Ludovic Garnier, chief financial officer of Red Lobster’s parent company.

“It’s one of the iconic promotions for Red Lobster, so we want to keep it in the menu, but of course, we need to be much more careful regarding what is the entry point and what is the price point we’re offering for this promotion,” Garnier added.

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