Ruby Tuesday Announces Tulsa, Oklahoma Expansion
MARYVILLE, Tenn.--(BUSINESS WIRE)--Aug. 4, 2006--Ruby Tuesday, Inc., one of the nation's leading casual dining restaurant companies, announced plans to open five restaurants in the Greater Tulsa, Oklahoma area beginning in 2007. The franchise and development rights, acquired by RT's of Oklahoma, LLC, call for the territory to be developed over four years. This marks the first franchise venture in Oklahoma for Ruby Tuesday.
Mike Treadwell, President of RT's of Oklahoma and owner of Treadwell Enterprises, has over 25 years experience in the restaurant industry. Mike Treadwell and Treadwell Enterprises own and operate both quick service and casual full-service restaurants throughout the Midwest and southeastern United States and have been franchisees of brands including: Kentucky Fried Chicken, A&W, Pizza Hut, Long John Silver's, Taco Bell, and Rib Crib.
Treadwell has also helped Treadwell Enterprises develop and franchise its own concept, Nutty Monkey, which specializes in frozen custard. He also serves as the President of the Southwest KFC Franchise Association.
"We are thrilled to be granted this opportunity to become a franchisee of such a successful national brand," said Mike Treadwell. "When we were looking to expand and diversify we researched many different brands but we kept coming back to Ruby Tuesday due to the systems that are already in place, the fanatical approach to offering their customers a wide variety of great food served consistently, a proven operational track record, and a true, sincere focus on guests."
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 850 company-owned and franchised restaurants in 42 states and 15 countries around the world. Ruby Tuesday is aggressively franchising territories in the western United States and countries around the world. 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 press release 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 unit growth (both Company-owned and franchised), future capital expenditures, future borrowings and repayment of debt, and payment of dividends. The Company cautions 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 casual dining 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; costs and availability of food and beverage inventory; the Company's ability to attract qualified managers, franchisees and team members; changes in the availability of capital; impact of adoption of new accounting standards; effects of actual or threatened future terrorist attacks in the United States; and general economic conditions.
CONTACT: Ruby Tuesday, Inc.
Rick Johnson, 865-379-5791
SOURCE: Ruby Tuesday, Inc.