As the economy continues to take a toll on discretionary expenses such as restaurant meals, high-end steakhouse chains hit by reduced business spending are confronting a bigger set of challenges. With 80-unit Morton’s and 120-unit Ruth’s Chris both reporting profit declines and falloffs in same-store sales in the 7-percent range for their third quarters, they and other upscale steakhouse competitors are revving up strategies to improve business. The Palm, Shula’s Steak ...
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