Ruby Tuesday 'repositioning' pays off
January 6, 2011
by Meat&Poultry Staff
MARYVILLE, Tenn. – Ruby Tuesday Inc. announced for the fiscal second quarter ended Nov. 30 net income of $4.6 million, compared to prior-year net income of $0.4 million. Sales at domestic and international franchise Ruby Tuesday restaurants totaled $79.9 million and $88.5 million for the second quarter of fiscal 2011 and 2010, respectively. Total revenue increased 6.2% from the prior-year period
“We are pleased to report our third-consecutive quarter of positive same-restaurant sales, and our strongest quarterly sales percentage in almost five years,” said Sandy Beall, founder, chairman, and CEO. “We believe these results are directly correlated to our repositioning efforts and strategic investments in our high-quality menu offerings, combined with an effective targeted marketing program.
“Our sales and earnings growth and solid balance sheet are enabling us to execute on our three- to five-year strategies to further strengthen and grow our business in a low-risk, high-return manner,” he added.
Ruby Tuesday Inc. has company-owned and/or franchise Ruby Tuesday brand restaurants in 46 states, the District of Columbia, 15 foreign countries, and Guam. As of Nov. 30, it owned and operated 676 Ruby Tuesday restaurants, while domestic and international franchisees (including Hawaii and Guam) operated 140 and 58 restaurants, respectively.