Red Lobster's Endless Shrimp Deal Is Never Coming Back Because Its New CEO Knows 'How to Do Math'

On Monday, caller Red Lobster CEO Damola Adamolekun, 35, told TODAY that the chain's mega-popular $20 endless shrimp deal has ended permanently. It besides almost ended the restaurant.

After offering endless shrimp arsenic a limited-time, usually once-a-year woody for decades, Red Lobster made the promotion a regular paper item—and instantly regretted it. The woody proved excessively celebrated and costs the genitor institution a astir $11 cardinal profit loss successful Q3 2023.

"We knew the value was cheap. But the thought was to bring much postulation successful the restaurants," said the CFO of Thai Union, the then-major shareholder, successful a November 2023 earnings call.

Related: Red Lobster Changed Its 'Endless Shrimp' Promotion After Losing $11 Million successful One Quarter

Adamolekun became CEO of Red Lobster successful August and was antecedently CEO of P.F. Chang's. When TODAY asked if Endless Shrimp would ever return, he said astir apt not, "because I cognize really to do math."

However, he did denote immoderate new paper items including bacon-wrapped oversea scallops, lobster pappardelle pasta, grilled Mahi, and the return of hush puppies—which he seems to beryllium a individual instrumentality of.

"I expect a stampede into our restaurants because we're bringing backmost the hush puppies," Adamolekun said. "I stopped going to Red Lobster because they stopped the hush puppies. Since I was successful assemblage I emotion the hush puppies. I'm gladsome they're back."

Related: Red Lobster Breaks Silence connected 'Misunderstood' Bankruptcy Filing: 'Does Not Mean We Are Going Out of Business'