|Jake the crab isn't pleased with the bottom line.|
Interesting story from late last week: The upscale seafood chain McCormick & Schmick's
, which just opened its first St. Louis-area location
at West County Shopping Center
in Des Peres, reported losses of $69.6 million for 2008
. (Dayton Business Journal
Revenue rose nearly 9 percent over the year but was dragged down by
fourth quarter losses of $73.4 million on earning of $98.7 million.
According to the article, McCormick & Schmick's will limit new restaurant openings to the St. Louis branch and one other location. Still, the chain expects its struggles to continue through the year.