Profits Steady at Restaurant Group
- Share via
American Restaurant Group Inc., Newport Beach-based operator of several restaurant chains, posted flat earnings for the second quarter on lower sales. The company said it earned $800,000 for the three months, about the same as in the same period last year. Revenue dropped 5.6% to $104.7 million.
The company attributed the revenue decline partly to closing poorly performing restaurants. Sales at restaurants open at least a year, a key industry indicator, declined at Grandy’s restaurants, but were higher for the Black Angus chain, American said.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
