Brinker, Casual Dining Still Taking a Hit

Though some fast-food chains are faring well in the recession, casual dining still continues to suffer. Take the results of Brinker International, which saw its Chili’s and Maggiano’s chains post a combined 6% same-store sales drop in the first quarter, while profits slid 34%Meanwhile, things aren’t looking a whole lot better over at P.F. Chang’s, where same-store sales fell 8.5% in its most recent quarter. And Texas-based chain Luby’s is closing 25 units. Of course, Olive Garden always seems to be the exception, and its parent Darden recently reported that sales at the behemoth rose 1.2% during its most recent quarter.This Nation’s Restaurant News report makes it sound like things are going to get worse before they get better. Some analysts predict that we will see more deterioration in fast food numbers as well. The article states that restaurants are one of the first sectors to perform better when economic conditions start improving, so by that barometer, we have a while to go.