Ruby Tuesday Inc. swung to a profit in the Sept. 2-ended first quarter, the company said Wednesday.
The Maryville, Tenn.-based company, which also owns the Lime Fresh brand, posted a 1.3-percent increase in guest counts at its Ruby Tuesday units, leading to a 1.1-percent increase in same-store sales at company-owned units. At the 31 domestic Ruby Tuesday franchised restaurants in the comparison base, same-store sales rose 6 percent, the company said.
“We are excited about the momentum we have seen in our sales and guest counts over the past three quarters and the improvements we are driving in restaurant level returns,” J.J. Buettgen, Ruby Tuesday’s chairman, president and chief executive, said in a statement.
The company has 749 Ruby Tuesday restaurants in 45 states, the District of Columbia, 12 other nations and Guam, with 666 of those company-owned. It also owns 20 Lime Fresh restaurants and franchises seven of that brand.
1Q NET INCOME
Result: $2.6 million, or 4 cents per share% Increase: (from -$22.3 million, or -37 cents per share)
1Q REVENUE
Result: $281.2 million% Decrease: 2.9% (from $289.7 million)
1Q SAME-STORE SALES
% Increase at corporate units: 1.1%
% Increase at domestic franchised units: 6%
Source: Company report
RELATED:
• Ruby Tuesday: Turnaround efforts beginning to pay off
• Ruby Tuesday looks to lift same-store sales
• More restaurant finance news
Contact Ron Ruggless at [email protected].
Follow him on Twitter: @RonRuggless
