It has been brought to my attention that Ruby Tuesday as we know it will no longer exist come summer time. I have no idea why Sandy and the boys would want to do such a thing. I'm sure that THEY think it's for the better, but my interviews with staff appear to the contrary. Apparently a major overhaul in how they do business, even down to a name change, are in the works.Obviously, one of three things will happen,,,A) Everyone stays status quo...i.e. the Company keeps doing great, as well as the stock....B) The change is much for the better...or C) they incurr incredible employee turnover, loss of name recognition, poor guest support from the get go (These guys are pros, however, any loss of guest satisfaction will be overcome), and front line management disbeleif, resulting in store level management turnover. While my Ruby's position at this point is not that substantial, it does comprise a large portion of my ROTH. I must say that in years past I have been a STRONG advocate of the company and it's management, but I must question this...and am considering selling my position. The key word is considering, as I would like to hear more regarding the outlook from Sandy Beall and Robert McGl. I didn't read of any mention in the web based quarterly report. Everything seemed to be going great, and we're looking forward to another split. I had the pleasure of meeting Robert about 2 1/2 years ago, and was more than impressed with his ideas and ideals...thus my openess to find out what is going on and the future of the company. Any feedback is welcome and appreciated. This company has been a big winner, and I'd like it to stay that way. I would just like to know what the game plan is.
All they are going to do is change the name to Ruby Tuesday Classic Grill. They will also do some interior remodeling. I have no idea how extensive the remodeling will be. If extensive, my initial impression is "Leave it alone! It's fine the way it is." If Sandy has too much cash, he should use his influence to give the stockholders a bigger dividend. Then again, like you said - He knows what he is doing.
The email address listed for investor relations on the RI site is no good so I sent one to Price Cooper, the investor relations VP. The email sent to Mr. Cooper was not kicked back by the RI server.
All info on this board is highly suspect including the speculation that a split might be announced during the quarterly conference call. Wishful thinking on your part or do you know something you�d like to share with the rest of us?
As opposed to the claims of bad food and Enronitis, which have no credibility, what�s interesting about the most recent wave of gossip is the specificity of names and locations, including a person alleged to be a VP or Regional Manager as the source. You were right to ask that question but the problem occurred once the answer came back.
I will not only let you know what Mr. Cooper says but also let you know how long it takes him to respond. That should speak volumes about RI�s grasp of investor relations. We�ll see.
I left about two years ago, and I'm fairly certain he was still with them then. He never had our region, I think he was western PA, and maybe north, in fact I think more north, but I'm not positive. I only met Henry a couple of times. I know when Bob Baldini was promoted down to corporate, they split up his region and Gina got our portion.
I have a franchised MP in Colorado that I'm tight with. I'll email him as well to see what he has to say.
This is getting interesting. We'll see what investor relations has to say.
What makes no sense is a name change, especially since the CEO makes reference to the the "brand" in his quarterly statement.