Restaurant sales boosted by Fuddruckers acquisition
Luby's Inc. swung to a profit in the fourth quarter from a year-ago loss, aided by increased sales from its acquisition of the Fuddruckers gourmet burger chain. For the quarter ended Aug. 25, Luby's reported net income of $516,000, or 2 cents per share. That compares with a loss of $23.3 million, or 83 cents per share, in last year's fourth quarter, when the company booked heavy impairment charges related to the closure of 25 underperforming stores. Revenue in the latest quarter rose 8.9 ...
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Contact: Desiree Torres Desiree.Torres@penton.com