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Luby's, Inc. Message Board

  • leogcarrolastopper leogcarrolastopper Nov 6, 2013 3:54 PM Flag

    Luby said , " "approximately flat to down 1.0%."

    The slowing economic environment that we experienced fiscal year to date appears to have moderated some in the third quarter. We expect our same-store sales results for fiscal year 2013 to be within our previously estimated range of "approximately flat to down 1.0%." Commensurate with this outlook, we believe restaurant sales for the fiscal year to be within the range of $362 million to $366 million, including a contribution of between $35 million and $36 million from the Cheeseburger in Paradise operation acquired earlier in the fiscal year. Earnings per diluted share are anticipated to be in the range of $0.19 to $0.22 as the positive contribution from new stores is offset by short term profit margin erosion at our legacy restaurants. Our EPS range has been lowered by $0.02 due to lower estimated sales from Cheeseburger in Paradise.

    This outlook is sensitive to changes in economic conditions and the effects of other risks and uncertainties described in the Company's annual and quarterly reports on Forms 10-K and 10-Q filed with the Securities Exchange Commission.

    Luby's will continue to expand its geographic footprint and anticipates opening one relocated cafeteria unit by the end of fiscal 2013 and three to five additional units by the end of calendar 2013.

    Profitability is contingent on same-store sales growth as well as effective management of our expenses. We remain cautious about the general political and economic environment and its impact on customer traffic

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5.07+0.09(+1.81%)Sep 16 4:01 PMEDT

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