Shells chain posts $1.2 million net loss as comps fall 10.8%

TAMPA Fla. Shells Seafood Restaurants Inc. reported a $1.2 million net loss for the second quarter ended July 1, versus a $9,000 loss in the same period last year, on a 12.1-percent decline in revenues to $11.5 million.

The operator of 24 casual-dining outlets blamed a 10.8-percent decrease in same-store sales and two underperforming restaurants that were not in the same-store group. The downbeat comps were also up against a strong performance in last year’s s

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