Skip navigation
Luby's 3Q net income falls 29.7%

Luby's 3Q net income falls 29.7%

Operator pushes forward with restaurant conversion plan

Luby's Inc. net income fell 29.7 percent in the third quarter ended May 7, compared to the year-earlier period.

Houston-based Luby’s said in a statement that conversions of two Cheeseburger in Paradise restaurants to the Fuddruckers brand were “gaining traction.” A third conversion is expected to open later this month, and two more conversions are under way, with openings expected later this summer.

Luby's company-operated restaurants include 93 Luby's Cafeterias, 67 Fuddruckers, 15 Cheeseburger in Paradise full-service restaurants and bars, and one Bob Luby's Seafood Grill. The company franchises 112 Fuddruckers locations domestically and internationally, and provides foodservice management to 26 healthcare, higher education and corporate dining locations.
 

3Q NET INCOME

Result: $1.7 million, or 6 cents per share
% Decrease: 29.7% (from $2.5 million, or 9 cents per share)

3Q REVENUE

Result: $97.2 million
% Increase: 0.9% (from $96.3 million)

3Q SAME-STORE SALES

% Increase systemwide: 0.3%


% Increase at Luby’s Cafeteria units: 2%


% Decrease at Fuddruckers units: 3.9%


Source: Company report



RELATED:
Luby’s net income dives 85% in 4Q
Luby's 2Q sales 'disappointing'
More restaurant finance news

Contact Ron Ruggless at [email protected].
Follow him on Twitter: @RonRuggless

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish