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Steakhouses in US lack sizzle as business diners tighten belts

More businesspeople are expected to return to high-end steakhouses as M&A activity picks up

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Steakhouse sales are a little choppier this year. For instance, comparable sales at Morton's are up 2 per cent to 3 per cent this year, after growing 4 per cent to 5 per cent on average last year.

New York

HIGH-PRICED US steakhouses are seeing lacklustre sales this year as some corporate diners curb their appetite for porterhouse and rib-eye.

While sales are "running a little bit ahead of last year", this "incremental improvement is not dramatic", said Malcolm Knapp, a New