NEW YORK Casual-dining chains should close a net of 1,200 locations, or about 7 percent of the segment’s capacity, to restore a supply and demand equilibrium with restaurant consumers, said John Glass, a securities analyst at Morgan Stanley. Glass said Monday that because total traffic counts to casual-dining chain restaurants rose 2.5 percent between 2005 and 2008, while same-store traffic fell 4 percent, and the total number of locations increased by 9 percent, supply had ...

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