Morton's Restaurant Group owns and operates upscale steakhouse and Italian restaurants. It has struggled recently with declining sales and earnings due to the weak economy. While the company has a strong brand, its outlook is difficult in the near term until the economy improves. However, it is well positioned for long-term growth once economic conditions stabilize.
12. 1 ST QTR 2009 1 ST QTR 20 08 Current Ratio 0.59 0.61 Debt/Equity Ratio 2.02 0.99 TIE Ratio -0.96 5.61 Working Capital Intensity -3.52 -3.16 ROIC -0.92% 0.94%
Additionally, during fiscal 2008, the Company opened a new Morton’s steakhouse in Sacramento, CA and closed a previously existing one in Sacramento Morton’s retrofitted seven Morton’s steakhouses with the Bar 12 21 dining concept in 2008, bringing the total number of Morton’s steakhouses featuring Bar 12-21 to 44.
These laws and regulations have and will continue to require certain of the Company’s restaurant locations to include specified nutritional information on its menu and other materials presented to guests or to otherwise post such information in the Company’s restaurants.
Morton’s Restaurant Group, Inc. business model creates value for their customers and employees by:
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