Recession batters upscale chains as sales, traffic dips sap profits

Recession batters upscale chains as sales, traffic dips sap profits

NEW YORK —High-end restaurant results are hitting new lows as slowed consumer spending and continuing budget cuts by corporate clients eat away at earnings.

McCormick & Schmick’s Seafood Restaurants Inc. and Morton’s Restaurant Group Inc. are among the latest companies to report that lower traffic and resulting double-digit dips in

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