McCormick & Schmick's Seafood Restaurants, Inc. Reports Preliminary Third Quarter Revenues and Comparable Restaurant Sales
Preliminary revenues for the third quarter of 2008 are approximately $99.9 million, an increase of 13.4% over the third quarter of 2007, with a preliminary comparable restaurant sales decrease of approximately 5.5%.
McCormick & Schmick's Seafood Restaurants, Inc. (Nasdaq: MSSR) today reported preliminary revenues and comparable restaurant sales for the fiscal third quarter ended September 27, 2008.
Preliminary revenues for the third quarter of 2008 are approximately $99.9 million, an increase of 13.4% over the third quarter of 2007, with a preliminary comparable restaurant sales decrease of approximately 5.5%. During the period, the Company opened new restaurants in Raleigh, North Carolina, Atlantic City, New Jersey, Edina, Minnesota, and Rosemont, Illinois.
Douglas Schmick, Chairman and Chief Executive Officer, said, 'Our third quarter comparable sales are indicative of the extremely challenging economic environment, and in particular, the historic financial market volatility in September. The U.S. consumer continues to be impacted by high gas prices and general economic conditions, but we are continuing to reach out to the strongest and most loyal segments of our customer base with targeted messaging to mitigate the macro impact to our business. We will provide additional details regarding our third quarter financial results during our upcoming third quarter earnings conference call.'
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