Brinker International Reports Lower Same-Store Sales
Brinker International said after U.S. markets closed Wednesday that sales at restaurants open at least 18 months fell 4.9% for the four weeks ended Feb. 28, hurt in part by unfavorable weather.
Brinker shares declined marginally on the news .
The decline came against a 1.1% rise in sales for the same month a year earlier. It also marked the 12th straight month of same-store sales decreases for Brinker, following a 4.5% drop in sales for January.
Same-store sales, a key retail measure, were off 5.1% at its flagship Chili's restaurants, and down 4.1% at Romano's Macaroni Grill, the company said in a statement.
The On The Border chain posted a 5.5% drop in same-store sales, while Maggiano's had a 4.1% decline.
Brinker's stock is up about 19% over the past year.