McCormick & Schmick’s ups full-year expectations

PORTLAND Ore. Despite a net loss and a double-digit same-store sales decline in its first quarter, McCormick & Schmick’s Seafood Restaurants Inc. upgraded Wednesday its full-year outlook as the company expects to gain traction with cost-cutting initiatives and tax benefits later this year.

For the first quarter ended March 28, the Portland, Ore.-based company reported a net loss of $1.1 million, or 8 cents per share, compared with a profit of $0.1 million, or

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