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

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Comments (5)
  • U2A Ventures
    , contributor
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    RT still exists?
    10 Apr 2014, 09:21 AM Reply Like
  • Julian Acosta
    , contributor
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    I don't see these restaurants often but they are always quite good.
    10 Apr 2014, 09:36 AM Reply Like
  • billknowsall
    , contributor
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    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 2014, 09:38 AM Reply Like
  • th3decider
    , contributor
    Comments (481) | 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 2014, 12:06 PM Reply Like
  • jrod0157
    , contributor
    Comments (4) | 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 2014, 12:35 PM Reply Like
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