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Executive Summary Gladstone’s Universal maintained by a substantial margin its status as the top-grossing restaurant in the San Fernando Valley, with 1998 sales of $10 million. The Sagebrush Cantina in Calabasas assumed the No. 2 position for the second year running, with sales of $8 million. Last year, Jerry’s Famous Deli made the list in the Nos. 3, 5 and 8 spots for its stores in Studio City, Woodland Hills and Encino, respectively. But this year, the company declined to reveal its sales for individual restaurants. The Studio City-based chain has been struggling over the past year, reporting a net loss of $100,000 (1 cent per share) in 1998 compared to net income of $600,000 (4 cents) a year earlier. Tarzana-based restaurant consultant Leon Gottlieb said the restaurants that thrive in L.A. are the ones that have been around for awhile and consistently offer superior food and service. “The restaurant business is extremely competitive, but especially so in L.A.,” he said. “We’re one of the primary markets for innovation and new ideas, and people have a lot of choices.” The Pacesetter Gladstone’s Universal Familiarity may breed contempt, but not in the restaurant business. Gladstone’s Universal owes its success in large part to customer familiarity with the Gladstone name, pricing and good food, said restaurant consultant Leon Gottlieb. “Its popularity is a carryover from Gladstone’s 4 Fish (the eatery in the Pacific Palisades),” he said. “People patronize it because they know what to expect. They understand the menu assortment, the general pricing and the casualness of it. That’s very comfortable for people.” But despite sharing a name with the Pacific Palisades outlet, Gladstone’s Universal is actually owned by Universal Studios Inc., which pays a licensing fee to the owners of Gladstone’s 4 Fish for use of the moniker. Gladstone’s 4 Fish, which is owned and operated by California Beach Restaurants Inc., is the top-grossing restaurant in greater Los Angeles, with $13.1 million in income in 1998. Gladstone’s Universal comes in third on the list of restaurants in all of L.A. County, which isn’t unexpected given the foot traffic at Universal CityWalk, said Gottlieb. Gladstone’s Universal, and other top restaurants in the Valley, benefit from the area’s affluence, he added. “Where you find good, expensive homes, you’ll find the best restaurants.”

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