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Luby's (LUB) Restaurants See No Jump in Business This Year
The Luby's Cafeteria chain was profiled by Tickermine this month. The company released its third-quarter results this month and said that restaurant sales were down by just over 4% from last year.
Our researchers interviewed folk at 20 different locations around the country and asked: Is lunch or dinner busier? Is your location new? What lures your customers to you? What is the average check for a party of two? And is business up or down from last year?
55% of respondents said that dinner was more busy than lunch, and only 45% said that lunch was more hectic. All 20 representatives said that their location was older than one year. 50% of our respondents said that it was the prices that their customers liked. 40% said it was a particular menu item that brought them back and two respondents or 10% said it was the atmosphere. 60% of respondents said that the average check for a party of two is $20-$30 at Luby's. 35% said that the check for two averages between $35-$45 , and one person or 5% said it was $50.
The Chicken Fried Steak platter was the most popular menu item and this was cited by 35% of those polled. 20% said Luby's Fried Fish sold the best and another 20% said that the Texas ribeye steak was a best seller. Blackened Tilapia was cited as best by 15%. The Mushroom Chicken Madeira was cited by one person as the best selling item and another one person cited the Parmesan Chicken Alfredo (5%). None of this has improved business greatly for Luby's. 60% of those polled said business was exactly the same as this time last year. 30% said business was up and 10% said it was down.
78% of Landry's Restaurants (LNY) Have Steady or Less Business YTD
Landry's Restaurant Inc. the restaurant chain was polled this week. The company operates Landry's Seafood House, Willie G's Seafood & Steak House and The Crab House and its owners insist the restaurant market has room for more players. Its revenues were up to $294.8 million versus $283.6 million a year ago.
We polled 23 locations and found that 78% of respondents say dinners are busier than lunches, and only 22% have lunch as their busier shift. All 23 respondents, 100%, said their location was not new. 15 respondents or 65% said it was the atmosphere that their customers liked. Seven respondents or 30% said it was a particular menu item and only one person or 4% said it was the prices.
The most popular menu items included The Red Snapper (17%), the Halibut (also 17%), the Shrimp Fresca (13%), the Snow Crab (13%) , the Mahi Mahi, Seafood Platter and the Seared Ahi Tuna (each were cited by 9% of those polled) and the Chilean Sea Bass, Fried Shrimp and Maya's Combo Platter , where each mentioned once. But while 22% of respondents said business was up from last year, 39% said it was slower and another 39% said it was the same. One thing helping the chain may be their prices. 49% said the average check for a party of two was $40-$50. 35% said it was $25 to $35 and 17% put it at $60-$80.
Weekly Specials Give Bump in Business at Kona Grill (KONA)
In a recent TickerMine survey, 68% Kona Grill restaurants reported that weekly specials had a positive impact on business. However, each restaurant's most popular item was a long-standing favorite, rather than a new addition to the menu.
The most popular item on the menu was sushi (26%), followed by albacore tataki (16%), lemongrass crusted halibut (11%), and sweet-chili glazed chicken (11%). All restaurants surveyed had been in business for more than one year. Only 37% reported that worries about the economy had slowed business.
The average wait for a party of two at Kona Grill is between 10 and 15 minutes for the majority of restaurants surveyed. The average tab for a party of two varied: 37% reported an average tab of $25 to $35, 16% said it was between $40 and $50, 32% said between $60 and $70, and 16% said it's over $80.