Ruby Tuesday Announces Los Angeles Expansion
MARYVILLE, Tenn.--(BUSINESS WIRE)--Feb. 12, 2007--Ruby Tuesday, Inc., one of the nation's leading casual dining restaurant companies, announced plans for the opening of 10 franchised restaurants in Los Angeles County over the next five years. The restaurants will be developed and operated by RT LA Group, LLC. Principles in that company include David Fish, Rob Rittgers, and Troy Saldana.
David Fish was the founder and operator of Premier Medical Management Systems, Inc., which provides physicians with state-of-the-art facilities, insurance claim administration and execution. Rob Rittgers, a native of Southern California, has 20 years experience in finance and the real estate industry. He is currently a principle owner of several mortgage companies in the San Diego area. Troy Saldana has more than 18 years of restaurant operations experience, and his background also includes hotel management.
"We are very excited about the introduction of our brand in the Los Angeles area, where there is enormous potential for growth," said Mark Ingram, President-Franchising for Ruby Tuesday. "This development team has a proven track record of business and operations success and is well qualified to bring our uncompromising quality, fresh, great-tasting food, and our gracious hospitality to Southern California."
This marks Ruby Tuesday's second franchise in southern California. The first is led by partners who include National Football League All-Pro athlete Junior Seau and Ruby Tuesday's franchisee for Hawaii, Ted Davenport.
About Ruby Tuesday
The Ruby Tuesday concept was born more than 30 years ago, when current Chairman and CEO Sandy Beall opened the first restaurant near the University of Tennessee in Knoxville. Since then, the company has grown to over 900 company-owned and franchised restaurants in 43 states and 15 countries around the world. Ruby Tuesday is aggressively franchising territories in the western United States and in international locations. Ruby Tuesday, Inc. is traded on the New York Stock Exchange (NYSE: RI). More information about the company can be found at www.rubytuesday.com.
Special Note Regarding Forward-Looking Information
This quarterly report on Form 10-Q contains various "forward-looking statements," which represent the Company's expectations or beliefs concerning future events, including one or more of the following: future financial performance and restaurant growth (both Company-owned and franchised), future capital expenditures, future borrowings and repayment of debt, payment of dividends, stock repurchase, and restaurant and franchise acquisitions. The Company cautions the reader that a number of important factors and uncertainties could, individually or in the aggregate, cause actual results to differ materially from those included in the forward-looking statements, including, without limitation, the following: changes in promotional, couponing and advertising strategies; guests' acceptance of changes in menu items; changes in our guests' disposable income; consumer spending trends and habits; mall-traffic trends; increased competition in the restaurant market; weather conditions in the regions in which Company-owned and franchised restaurants are operated; guests' acceptance of the Company's development prototypes; laws and regulations affecting labor and employee benefit costs, including potential increases in federally mandated minimum wage; costs and availability of food and beverage inventory; the Company's ability to attract qualified managers, franchisees and team members; changes in the availability and cost of capital; impact of adoption of new accounting standards; impact of food-borne illnesses resulting from an outbreak at either Ruby Tuesday or other restaurant concepts; effects of actual or threatened future terrorist attacks in the United States; significant fluctuations in energy prices; and general economic conditions.
CONTACT: Ruby Tuesday, Inc., Maryville Rick Johnson, 865-379-5791 SOURCE: Ruby Tuesday, Inc.