Wfaa:
The tightening credit markets have delayed the sale of Romano’s Macaroni Grill, the parent company said Wednesday.
Dallas-based Brinker International Inc. told analysts about the change as it announced earnings for the second quarter, which rose 23 percent compared with the same quarter last year.
The gain – to $54.5 million, or 52 cents a share, up from $44.2 million, or 35 cents a share – was due in part to the sale of 76 company-owned restaurants to a franchisee. Brinker benefited from a one-time gain of $29.2 million because of the sale.
The earnings report fueled a 21.6 percent boost in Brinker’s stock price, which closed at $18.63, up $3.31 for the day. The stock, which traded in the $35 range last February, has taken a pounding as the economy has hurt restaurant sales.
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