Costs from Fuddruckers acquisition weigh down bottom line
Luby's Inc. said sales rose at its cafeteria chain for the first quarter, but costs related to the acquisition of Fuddruckers led it to a net loss. For the first quarter ended Nov. 17, Luby’s reported a net loss of $2.3 million, or 8 cents a share, compared with a loss of $3.7 million, or 13 cents a share, in the same quarter a year earlier. Revenue for the quarter rose to $75.3 million from $52.3 million a year ago. The Houston-based company said same-store sales at its 96 Luby's ...
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