Restaurants -- expected to be among the first sectors to emerge post-recession -- are already showing some signs of life. Case in point:
, which posted a 4% increase in first quarter earnings to $4.3 million, or 4 cents a share, from $4.1 million, or 4 cents in the year-ago period.
Revenue declined 20% to $135.6 million from $169.6 million last year. The company's value-message and increased promotions, such as free breakfast, helped drive sales at the end of the quarter.
Denny's, a nearly forgotten name in the space, has been
revving up, according to an April 29 report on RealMoney.com. The report cites, as evidence, that shares are up 37% in the year to date and up 129% from their March low, and that the company seems to have gotten some mileage from its recent free breakfast promotions.
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