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Ruby Tuesday, Inc. Message Board

  • bluecheese4u bluecheese4u Jan 9, 2013 5:23 PM Flag

    Ruby Tuesday Reports Second Quarter Fiscal 2013 Results:

    Ruby Tuesday Reports Second Quarter Fiscal 2013 Results:

    Same-Restaurant Sales up 0.3%
    Announces Plan to Exit Marlin & Ray’s, Truffles Grill, and Wok Hay Concepts; Incurs Pre-Tax Charge of $16.9 Million in Second Quarter
    Repurchases 2.4 Million Shares of Its Common Stock
    Repurchases $11.5 Million of Its High Yield Bonds
    Board Increases Share Repurchase Authorization by 10 Million Shares

    MARYVILLE, Tenn.--(BUSINESS WIRE)--Jan. 9, 2013-- Ruby Tuesday, Inc. (NYSE: RT) today reported financial results for the fiscal second quarter ended December 4, 2012.

    Results for second quarter 2013 compared to second quarter 2012 include:
    Same-restaurant sales increased 0.3% at Company-owned Ruby Tuesday restaurants
    Restaurant-level operating margin of 16.1%, compared to 14.4% for the prior year, an improvement of 170 basis points primarily driven by cost savings
    Net loss of $15.1 million, or net loss of $4.6 million excluding the following: 1) Pre-tax impairment charges of $16.9 million incurred due to our decision to close and exit the Marlin & Ray’s and Wok Hay concepts, close two Company-developed Lime Fresh restaurants, and seek a buyer for the Truffles Grill concept which we currently license, and 2) CEO transition expenses of $0.4 million primarily related to search fees. This compares to the prior-year net loss of $2.0 million. We have included a reconciliation of these items and the related loss per share impact on the Investor Relations page of the


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