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For the first quarter of 2009, total revenue decreased 10.8% to $21.42 million, compared to $24.02 million for the first quarter of 2008. Same-store-sales decreased 11.2% for the first quarter of 2009, when compared to the same quarter of 2008.
Steve Wagenheim, CEO of Granite City Food & Brewery, said: "Given the tough conditions in our industry, we are pleased with our restaurant-level performance. We all know that the economy has been difficult from a revenue perspective and that the polished casual dining sector is facing tougher challenges than most, but our ability to improve margins from 8.5% to 15.4% during comparative quarters is a testament to all the hard work of our management team."
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