In a bid to attract the upper class, which is less susceptible to economic downturns, both dining operators have raised their prices and changed their menus.
In a recent report, the business consultancy Deloitte said that although casual dining operators faced challenging times ahead, changes in consumer tastes and the way diners engaged with restaurants, particularly through technology, could provide opportunities for growth.
Indeed, shares of casual dining operators such as Ruby Tuesday, Darden Restaurants (nyse: DRI), Brinker International, the Cheesecake Factory and Red Robin Gourmet Burgers have all seen comparable-store sales levels decline in their most recent quarter from year-ago levels.
AmRest Holdings (WSE: EAT) is an international fast-food and casual dining restaurant operator.
According to Reuters, Brinker is the world's No. 3 casual-dining operator in terms of revenue, with more than 1,650 locations in about 30 countries.
The company is the No. 1 casual-dining operator (in terms of revenue) with more than 1,700 restaurants in the U.S. and Canada.
The Olive Garden brand is a full service dining Italian restaurant operator in the United States.
doormen, elevator operators, dining area, renovated kitchen and bath, oversize windows, maintenance $1,198, 53% tax deductible; listed at $515,000.
doormen, elevator operators, dining area, h/w floors, c/a, terrace, 3 exposures; maintenance $1,759, 64% tax deductible; listed at $1.149 million.
