Fancy Steakhouse Morton's Not Making As Many Millions as They Used To
|image via wellohorld's flickr|
|And restaurant executives take to graffiti|
The restaurant group is reporting a revenue decrease of 19.8% for the second quarter of 2009. Their earnings were $68.7 million, which is down from $85.6 million.
According to their report "The decrease in revenues is primarily attributable to the decrease in comparable restaurant revenues." Uh, no shit folks, probably the only people eating at fancy steakhouses right now are business execs writing 2nd quarter revenue loss reports.
They do say that drops were offset by 4 new Morton's opened in 2008. Our research indicates new restaurants opened in Brooklyn, Ft. Lauderdale and Miami Beach in 2008, so maybe South Florida is an earner for them.
There are 9 Morton's locations in Florida, seven in South Florida (Boca, The Gables, Lauderdale, Miami, Miami Beach, North Miami Beach, and West Palm).