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Company continues to explore strategic alternatives, including possible sale
Ruby Tuesday Inc. has temporarily shelved its remodeling program as it explores strategic alternatives, including a possible sale, executives said Thursday.
“Our remodeling program remains on a temporary hold,” Lane Cardwell, interim CEO of the Maryville, Tenn., casual-dining operator, told analysts after releasing third-quarter earnings.
Last month, Ruby Tuesday said it was exploring strategic alternatives, including a potential sale of the company, as it looked for ways to reverse sales and stock price declines.
Additionally, on Thursday the company appointed Jim Hyatt president and CEO.
Cardwell, who will continue in his position on Ruby Tuesday’s board, said the company had completed 13 remodels — seven in Charlotte, N.C., and six in Jac...
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