At Shells Seafood Restaurants' annual meeting last week, executives might have expected tough questions from the handful of shareholders present. The chain's chief executive and president had resigned just the day before. First-quarter earnings were down 15 percent after what the company described as a "bump in the road." And same-store sales were down nearly 6 percent.
But when it came to question-and-answer time, here was the burning issue for one vocal investor: Shells doesn't have enough vegetables on its menu. John Ritchey, vice president of operations, agreed that the chain's menu was "a little tired, it's the same old stuff," but new items are on the way. Philip Chapman, board chairman, was a bit defensive.
"I like the vegetables," he said of the chain's 99-cent steamed veggies. "My mother would be proud of me."
