CHICAGO Morton’s Restaurant Group reported a wider net loss in the fourth quarter on impairment charges and declining sales at its high-end steakhouse chain. For the Jan. 3-ended quarter, Morton's recorded a net loss of $66.9 million, or $4.21 per share, which reflected charges related to impaired assets, the settlement of wage-and-hour claims, and severance for former chief executive Thomas J. Baldwin, who resigned Feb. 2. In last year's fourth quarter, Morton's posted a net loss of $7.6 ...
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Contact: Desiree Torres Desiree.Torres@penton.com