Company reports a loss of $2.5 million during the quarter
Ignite Restaurant Group Inc. reported on Wednesday a loss of $2.5 million, or 10 cents per share, for the July 1-ended second quarter. The Houston-based parent to the Joe’s Crab Shack and Brick House Tavern + Tap chains said results were “significantly impacted” by spending on staffing and media at the 210-unit Romano's Macaroni Grill, which it acquired April 9.
Result: -$2.5 million, or 10 cents per share
(from $5.5 million, or 25 cents per share)
Result: $228.1 million
% Increase: 90.3% (from $119.9 million)
% Increase at Joe's Crab Shack: 0.7%
% Increase at Brick House Tavern + Tap: 6.4%
% Decrease at Macaroni Grill: 7.4% (from April 9 acquisition through July 1)
• Ignite: 2Q results to fall short of expectations
• Ignite readies Brick House Tavern + Tap for franchising
• Same-store sales at NRN.com
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