Main St. & Main posts 15.5% decline in 1st Q – Finance

Main St. & Main posts 15.5% decline in 1st Q – Finance – Brief Article

PHOENIX — Main Street and Main Inc., which is the largest T.G.I. Friday’s franchisee, said net income for the first quarter fell 15.5 percent to $1.1 million, and diluted earnings per share fell to 8 cents from 9 cents. Revenue of $57.6 million rose 4.1 percent, while same-store sales were 1.2 percent lower, compared with year-ago results. The company operates 60 T.G.I. Friday’s, five Redfish, 10 Bamboo Club and one Alice Cooper’stown restaurants.

COPYRIGHT 2003 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.

COPYRIGHT 2003 Gale Group