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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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 York-based consultant who created a monthly index for high-end steak restaurants. The gain masks a wide variation in sales growth across different companies and locations.
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