Steakhouse Sales Lose Some Sizzle
High-priced U.S. steakhouses are seeing lackluster sales this year as some corporate diners curb their appetite for porterhouse and rib eye. While sales are “running a little bit ahead of last year,” this “incremental improvement is not dramatic,” said Malcolm Knapp, a New York-based consultant who created a monthly index for high-end steak restaurants. The gain masks a wide variation in sales growth across different companies and...
