(Reuters) - The Dow Jones restaurants and bars index , though up 1.6 percent on Friday afternoon, has dropped about 3.3 percent since hitting a lifetime high on May 22 as restaurant companies including Chili's parent Brinker International Inc. , Panera Bread Co. , Outback Steakhouse parent OSI Restaurant Partners Inc. and Applebee's International Inc. reported disappointing May same-store sales.
"The summer doldrums appear to be setting in early this year," Morgan Keegan analyst Bob Derrington said in a note this week. "High gasoline prices remain a drain on consumer spending and restaurant usage."
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"The summer doldrums appear to be setting in early this year," Morgan Keegan analyst Bob Derrington said in a note this week. "High gasoline prices remain a drain on consumer spending and restaurant usage."
Read more at Reuters.com Hot Stocks News
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