From National Restaurant News:
California Pizza Kitchen Inc. increased its estimated third-quarter earnings projection, and Ruby Tuesday Inc. posted a better-than-expected bottom line result for its latest September-ended quarter. Last week, Darden Restaurants Inc. also reported improved profit.
All three, however, reported negative same-store sales and revenue tallies. Industry observers said a recovery in casual dining is not likely to occur through 2010. Without sales improvements, many casual-dining operations will have trouble continuing to leverage cost-cutting strategies.
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