Texas Roadhouse Inc. shares fell more than 8% in the extended session Monday after the restaurant chain reported first-quarter earnings and sales below Wall Street expectations, citing labor costs. Texas Roadhouse said it earned $50 million, or 70 cents a share, in the quarter, compared with $55 million, or 76 cents a share, in the year-ago quarter. Revenue rose to $691 million from $628 million a year ago. Analysts polled by FactSet had expected earnings of 82 cents a share on sales of $694 million. "Despite our ongoing sales strength, our profits continue to be pressured by higher labor costs. Much of the labor increase was driven by wage rate and other labor inflation that currently does not show signs of abating," President Scott Colosi said in a statement. Texas Roadhouse ended the regular trading day up 0.8%.
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