Granite City inks 22-unit development deal as 1st-Q net loss sinks

MINNEAPOLIS Granite City Food & Brewery on Thursday reported a first quarter net loss that more than doubled over the year-ago period as costs related to new store openings and higher commodities prices ate into a 32-percent jump in revenue. The company also said that it has signed a long-term development agreement with real estate developer United Properties that is expected to lower the casual-dining chain’s cost of capital and reduce building costs.

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