Steakhouses in US lack sizzle as business diners tighten belts

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.