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Postcards: Endless Shrimp

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substack.com

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thefloridarepublic@substack.com

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Mon, May 20, 2024 02:14 PM

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What was Red Lobster thinking? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

What was Red Lobster thinking? ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more You are a free subscriber to Postcards from the Florida Republic. To upgrade to paid and receive the daily Republic Risk Letter, [subscribe here](. --------------------------------------------------------------- [Postcards: Endless Shrimp]( What was Red Lobster thinking? [Garrett {NAME}]( May 20   [READ IN APP](   Market Update: This is going to end so badly… but the music is still playing. There is nothing stopping this market through June. Liquidity is strong. Anything that isn’t nailed down is rising. Bitcoin is surging. Gold is heading to $2,500. Be greedy when others are greedy. Bail when our signal turns red. --------------------------------------------------------------- Dear Fellow Expat: Red Lobster has filed for Chapter 11. I’m sure you’re just as sad as I am. I couldn’t help but notice a headline… Okay… hold on. What? The endless shrimp? This Was a Bad Idea I’m at a loss on this one. I cannot wait until Harvard Business School does a case study on Red Lobster… Shrimp was a bad choice. The company decided to have a promotion … where customers could get “All You Can Eat Shrimp” for $20. And then… they were stunned when people ate more shrimp than the plate cost. It was so bad that they lost $11 million on the endless shrimp promotion. As my wife told me… “they didn’t know their customer.” Their customers were there to fit every piece of seafood into their body and then be rolled back home. This isn’t a big company… but was part of a net loss of $76 million in 2023. How in the heck do you lose that much money selling seafood? I couldn’t even spend that much money in a century. There are a few other things that I’ve learned about Red Lobster in the last 27 minutes that just blew my mind. - They’re the largest seafood restaurant chain in the world. How is that possible? - They have $1 billion in debt and only $30 million in cash? Arrest everyone. - The company had a huge 2016 because Beyonce mentioned them in a song… what is happening? - This company started in Lakeland, Florida. Home of Ray Lewis. - 64 million people ate at Red Lobster last year. Why? - 20% of all lobster tails bought in North America are purchased by Red Lobster. What?! This place seems to have been a Lobster Ponzi Scheme. I’m gonna go scream into the sky now… Stay positive, Garrett {NAME} Disclaimer Nothing in this email should be considered personalized financial advice. While we may answer your general customer questions, we are not licensed under securities laws to guide your investment situation. Do not consider any communication between you and Florida Republic employees as financial advice. Under company rules, editors and writers cannot recommend their positions. The communication in this letter is for information and educational purposes unless otherwise strictly worded as a recommendation. Model portfolios are tracked to showcase a variety of academic, fundamental, and technical tools, and insight is provided to help readers gain knowledge and experience. Readers should not trade if they cannot handle a loss and should not trade more than they can afford to lose. There are large amounts of risk in the equity markets. Consider consulting with a professional before making decisions with your money.   [Like]( [Comment]( [Restack](   © 2024 Garrett {NAME} 548 Market Street PMB 72296, San Francisco, CA 94104 [Unsubscribe]() [Get the app]( writing]()

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