LRI Holdings Inc., the parent company of Logan’s Roadhouse, said higher commodity costs and weakening traffic contributed to a steep drop in profits in the fourth quarter. The steakhouse chain reported a 65.3-percent drop in net income to $1.7 million from $4.9 million in the same quarter last year. For the quarter ended July 31, Logan’s revenue rose 7 percent to $151.5 million from $141.5 million in the year-ago period. The chain reported that same-store sales for the ...
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Contact: Desiree Torres Desiree.Torres@penton.com