HOUSTON Luby’s Inc., which owns 122 cafeterias in Texas and other states, said its second-quarter profit fell 85 percent from the same quarter a year earlier on higher operating expenses and soft customer traffic. For the quarter ended Feb. 13, net income totaled $286,000, or 1 cent per share, down from $1.9 million, or 8 cents per share, the year before.Revenue in the latest quarter rose 0.6 percent to $72.6 million. Restaurant sales slipped to $71 million from $72.1 million a year ...
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