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