Barbecue Chain Reports a 58% Profit Decrease

Barbeques Galore Ltd., an Irvine chain of specialty retail stores, posted fourth-quarter net income of $1.4 million, or 30 cents a share, down nearly 58% from $3.3 million, or 71 cents a share, for the 1999 fourth quarter. Sales for the quarter ended Jan. 31 declined 4% to $52 million. For the fiscal year, net income fell 38% to $2.5 million, or 52 cents a share, from $4 million, or 87 cents a share, the previous year. Sales rose 4% to a record $172.4 million.