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Luby’s net income dives 85% in 4Q

Luby’s net income dives 85% in 4Q

Drop attributed to after-tax loss from Cheeseburger in Paradise brand

Luby’s Inc. on Wednesday reported a 85.4-percent decline in profit for the Aug. 28-ended fourth quarter, which the company blamed on a $1.8-million after-tax loss from the 23-unit Cheeseburger in Paradise chain, which it acquired a year ago.

At Luby’s larger Luby’s Cafeteria and Fuddruckers brands, the company said operating results were hampered by higher operating costs, including marketing, softer-than-expected traffic and food inflation.

NET INCOME

  Result: $459,000, or 2 cents per share
  % Decrease: 85.4% (from $3.1million, or 11 cents per share)

REVENUE

Result: $125.9 million
% Increase: 17.5% (from $107 million)

SAME-STORE SALES

% Increase systemwide: 0.5%


% Increase at Luby's: 1%


 % Decrease at Fuddruckers : 0.4%


% Decrease at Koo Koo Roo : 15.1%


Source: Company report

RELATED:

    •    3Q sales slip at Luby's Cheeseburger in Paradise
    •    Luby’s to acquire Cheeseburger in Paradise for $11M
    •    Same-store sales at NRN.com

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

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