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Ruby Tuesday, Inc. Message Board

  • bluecheese4u bluecheese4u Apr 2, 2008 4:58 PM Flag

    Ruby Tuesday, Inc. Reports Third Quarter Results

    Ruby Tuesday, Inc. Reports Third Quarter Results
    Wednesday April 2, 4:15 pm ET


    MARYVILLE, Tenn.--(BUSINESS WIRE)--Ruby Tuesday, Inc. today reported diluted earnings per share of $0.23 on net income of $11.7 million for the Company’s third quarter of fiscal 2008, which ended on March 4, 2008. This compares to diluted earnings per share of $0.49 on net income of $28.7 million for the third quarter of the prior year. The diluted earnings per share impact of costs associated with the Company’s remodel initiative in the third quarter of fiscal 2008 was $0.06.
    Quarterly Highlights

    Third quarter fiscal 2008 same-restaurant sales at Company-owned Ruby Tuesday restaurants decreased 12.7%, while same-restaurant sales at domestic franchise Ruby Tuesday restaurants decreased 12.0%, as compared to a decrease of 1.0% and an increase of 1.8% at Company-owned and domestic franchise Ruby Tuesday restaurants, respectively, in the third quarter of the prior year. The Company estimates the third quarter of fiscal 2008 was negatively impacted by approximately 0.6% and 0.8% at Company-owned and domestic franchise Ruby Tuesday restaurants, respectively, due to heavier winter weather than in the same period of the prior year.

    Third quarter fiscal 2008 same-restaurant sales:

    December January February Third Quarter
    Company-Owned -12.5% -14.2% -11.5% -12.7%
    Domestic Franchise -12.7% -13.4% -9.8% -12.0%


    Other highlights for the 13-week third quarter:


    Total revenue decreased 7.1% from the same period of the prior year.
    The Company opened six new Ruby Tuesday restaurants while six were closed during the quarter.
    Domestic and international franchisees opened two new Ruby Tuesday restaurants during the

    http://biz.yahoo.com/bw/080402/20080402006376.html?.v=1

 
RT
7.23+0.09(+1.26%)Apr 17 4:00 PMEDT

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