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Steak n Shake sales continue slide

December 23, 2008
Steak n Shake Co. has recorded its 14th consecutive quarter with a same-store sales decline.

The locally based chain reported a 1.4 percent drop in same-store sales for the first quarter, which ended Dec. 17. The chain saw its revenue fall 6.7 percent in fiscal 2008, for a fiscal year loss of about $23 million. It earned $11.8 million last year.

Shares traded slightly up this morning, in the $6.10 range, down about 45 percent on the year.
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