Ruby Tuesday, Inc. Reports First Quarter Same-Store Sales
MARYVILLE, Tenn.--(BUSINESS WIRE)--Sept. 7, 2005--Ruby Tuesday, Inc. (NYSE: RI) today reported same-store sales for its first quarter fiscal 2006 ended August 30, 2005. Same-store sales at Company-owned Ruby Tuesday restaurants were down 3.9% for the first quarter, in-line with the Company's previous estimate of down approximately 4.0%. Same-store sales at domestic franchise Ruby Tuesday restaurants were down 6.4%, which was better than the Company anticipated.
Monthly same-store sales information: June period July period August period Quarter Company -4.7% -3.9% -2.8% -3.9% Domestic Franchise -7.5% -5.5% -6.0% -6.4%
The first quarter of fiscal 2006 marked the final quarter of overlapping heavy, prior couponing efforts as the Company recorded $8.0 million in redemptions during the first quarter of the prior fiscal year. The $8.0 million in redemptions was the highest level of prior coupon redemptions for a stand alone quarter. The Company has now completed its transition from a coupon based marketing strategy to the utilization of media advertising.
The Company is scheduled to release complete first quarter financial results after the market close on October 5, 2005.
Ruby Tuesday, Inc. has Company-owned, and/or franchise Ruby Tuesday brand restaurants in 42 states, the District of Columbia, Puerto Rico, and 13 foreign countries. As of August 30, 2005, the Company owned and operated 592 Ruby Tuesday restaurants, while domestic and international franchisees (including Hawaii) operated 193 and 40 locations, respectively.
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, 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 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., Maryville Price Cooper, 865-379-5700 SOURCE: Ruby Tuesday, Inc.