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Red Lobster's endless shrimp deal eats into profits

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Red Lobster parent company Thai Union has cited an endless shrimp deal at the seafood restaurant for a quarterly net loss.

The restaurant chain's third-quarter net loss was $11 million.

“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," said Thai Union Chief Financial Officer Ludovic Garnier.

Read more from CNN Business.

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