O’Charley’s 1Q net falls 31%

NASHVILLE Tenn. O’Charley’s Inc., parent to 372 casual-dining restaurants under the O’Charley’s, Stoney River Legendary Steaks and Ninety Nine Restaurants chains, said Tuesday that profits for the first quarter fell 31 percent, the result of a continued drop-off in consumer spending.

Still, the company's earnings were better than expected, especially by Wall Street, and O'Charley's stock price rose nearly 26 percent to close at $8.49 on Tuesday. For the past 5

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