Restaurant chain Logan's Roadhouse lost $9.0 million in its second fiscal quarter, as customer traffic slid 8 percent from a year earlier.
The net loss was an improvement from Q1, when Nashville-based Logan's was more than $12 million in the red, thanks mainly to lower impairment and closure charges. Revenues fell 5 percent year over year — but rose slightly quarter to quarter — to almost $154 million. And the company posted a $1.5 million operating profit, down from $5.9 million a year earlier.
President, CEO and Chairman Mike Andres said his team is still "focused on building a strong foundation" for long-term growth and plans to improve the 259-unit chain's food and drink options, as well as its employee training and operating systems.
"We have a strong sense of urgency to deploy these components quickly, however we will also do so prudently," Andres said in a statement. "In the meantime, our results reflect the realities of the challenging competitive environment that we are yet to distinguish ourselves in."
POSTDATA: WARRANTY DEEDS