Seeking Alpha

Ruby Tuesday higher after earnings surprise

  • Ruby Tuesday (RT) reports same-restaurants sales fell 1.9% in FQ3 at company-owned restaurants and 2.2% at franchised outlets. The mark was higher than what analysts forecast.
  • The company plans to close approximately six to nine restaurants during FQ4 for a total of 30 to 33 closures in H2.
  • During the firm's earnings call, execs highlighted how the company was able to drive redeemptions of coupons during the quarter without giving away "inordinate" discounts (CC transcript).
  • RT +10.1% premarket
Comments (5)
  • U2A Ventures
    , contributor
    Comments (185) | Send Message
     
    RT still exists?
    10 Apr, 09:21 AM Reply Like
  • Julian Acosta
    , contributor
    Comments (128) | Send Message
     
    I don't see these restaurants often but they are always quite good.
    10 Apr, 09:36 AM Reply Like
  • billknowsall
    , contributor
    Comments (267) | Send Message
     
    I like RT and made good $$$ off their shares five years ago. This time, I'm staying away. Having just eaten at one of their restaurants (Emory rd, Knoxville, Tn), I found them to be pricing their meals above what the market wants. Service was very good but the actual meal was overpriced for what it was. A competitor (OCharleys) offers better value to the target market. I will wait until RT realigns it's offerings to the market.
    10 Apr, 09:38 AM Reply Like
  • th3decider
    , contributor
    Comments (365) | Send Message
     
    I dont own any RT stock but I have liked their restaurants for awhile. They are like an upscale Denny's and in this new normal of stagnated wages and low paying jobs, going out to eat at a medium-class restaurant is one of the last remaining luxuries that people will give up and will still engage in regularly.
    10 Apr, 12:06 PM Reply Like
  • jrod0157
    , contributor
    Comment (1) | Send Message
     
    RT offers a dining experience (while not cheap when compared to others who price their entrees $1-$3 cheaper), that is cheerful and inviting. The service is good and consistent indicating that they do take the time to train the staff to ensure a certain level of service. I personally like the ambiance and when you consider it cost just a few dollars more, I think it is well worth it. Their changing menu will certainly keep me coming back. Keep up the good work.
    10 Apr, 12:35 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector