click to enlarge Jake the crab isn't pleased with the bottom line.
Interesting story from late last week: The upscale seafood chain
McCormick & Schmick's, which just opened
its first St. Louis-area location at
West County Shopping Center in Des Peres, reported
losses of $69.6 million for 2008. (
Dayton Business Journal)
Revenue rose nearly 9 percent over the year but was dragged down by
fourth quarter losses of $73.4 million on earning of $98.7 million.
According to the article, McCormick & Schmick's will limit new restaurant openings to the St. Louis branch and one other location. Still, the chain expects its struggles to continue through the year.