Ruby Tuesday Opens First Restaurant in Jeddah
MARYVILLE, Tenn.--(BUSINESS WIRE)--Dec. 22, 2006--Ruby Tuesday, Inc., one of the nation's leading casual dining restaurant chains, announces the opening of a Ruby Tuesday Franchise in Jeddah, Saudi Arabia. The restaurant debuted on November 27, and was developed as part of a franchise agreement with Marssana International Trading Co. Marssana's plans also include the construction of three future Ruby Tuesdays in the Central and Western provinces of Saudi Arabia.
The opening of the Jeddah restaurant will present a new and unique experience to that city, with the largest salad bar in Saudi Arabia and the biggest family dinning hall. Special features include a unique Ruby Circle, which is a large, round, party hall located on the second floor with capacity for 120 people. The Ruby Circle will be utilized for large parties, special occasions, and business meetings.
"The opening of the first Ruby Tuesday in Jeddah is a distinctive and unique event and will set a new and very high standard for restaurants in terms of equipment, decor and services," said Sheik Mohammed O. Balubaid, Managing Director of Marssana International Trading Company. "Ruby Tuesdays are well-known for their menus, including appetizers and salad bars that are considered the biggest and best in the country," he added.
Ruby Tuesday, Inc., a publicly traded company, currently owns, operates and franchises more than 900 casual dining restaurants in the United States and around the world. There are currently Ruby Tuesday Restaurants in Salmiya and Kuwait City, Kuwait.
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, the District of Columbia and operations in locations 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 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 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; significant fluctuations in energy prices; and general economic conditions.
CONTACT: Ruby Tuesday Inc., Maryville
Rick Johnson, 865-379-5791
SOURCE: Ruby Tuesday, Inc.