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Capacity returns to steakhouses in second quarter, with same-store sales up 5%
Ruth’s Hospitality Group Inc. has made “surgical” increases in menu prices, including a 2.5% hike in May, to offset pressures in commodities as it continues to move toward full capacity in its steakhouse restaurants, company executives said Friday.
The Winter Park, Fla.-based fine-dining steakhouse brand, in a second-quarter analysts call, said its same-store sales were up 5% despite pandemic capacity restrictions during much of the period.
“Excluding the impact of Boston, Hawaii and Manhattan, comps were up 11.1%,” said Cheryl Henry, CEO and president of Ruth’s Hospitality. The six restaurants in those three markets are high-volume contributors to the company’s sales volume, making up about 10% of the company-owned restaurants’ sales, she...
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