HOUSTON Luby’s Inc., parent of the 96-unit cafeteria chain, swung to a loss in the second quarter from a year-ago profit as it struggled to drive traffic despite lower menu prices. For the quarter ended Feb. 10, Luby's posted a net loss of $450,000 loss, or 2 cents a share, compared with a year-ago profit of $146,000, or 1 cent a share. Revenue declined 12.6 percent to $53.8 million. Second-quarter same-stores dropped 12.5 percent, compared with a year ago. Luby's cited prices cuts and ...
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Contact: Desiree Torres Desiree.Torres@penton.com