Ruth’s Hospitality Group Inc. on Friday reported profit rose 260 percent for the Sept. 29-ended third quarter, lifted from the prior year on a $1.3 million after-tax benefit from two insurance settlements and higher sales at its steakhouses. The Winter Park, Fla.-based company has more than 150 company- and franchise-owned restaurants under the Ruth’s Chris Steak House, Mitchell’s Fish Market, Mitchell’s Steakhouse and Cameron’s Steakhouse brands.
NET INCOME
Result: $2.9 million, or 8 cents per share% Increase: 260% (from $802,000 or 2 cents per share)
REVENUE
Result: $88.6 million% Increase: 5% (from $84.3 million)
SAME-STORE SALES
% Increase at company-owned Ruth's: 4.2%
% Increase at franchise-owned Ruth's 1.4%
% Decrease at company-owned Mitchell's: 1.4%
Source: Company report
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