NEW YORK High-end restaurant results are hitting new lows as slowed consumer spending and continuing budget cuts by corporate clients eat away at earnings. McCormick & Schmick’s Seafood Restaurants Inc. and Morton’s Restaurant Group Inc. both said this week that lower traffic and resulting double-digit dips in same-store sales drove year-over-year declines in second quarter revenue and profit.Though McCormick & Schmick’s of Portland, Ore., is known for seafood and Chicago-based Morton’s, for ...
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Contact: Desiree Torres Desiree.Torres@penton.com