$RT (Ruby Tuesday, Inc.)

$RT {{ '2016-08-11T20:52:40+0000' | timeago}} • Announcement

$RT estimates that it will incur $72-81MM in pre-tax charges related to the restaurant closures; with about $30-37MM expected to be cash charges related to closing expenses, corporate restructuring, lease termination, holding and other costs.

$RT {{ '2017-05-02T15:09:48+0000' | timeago}} • Announcement

$RT has signed a development agreement with Al Bairaq Trading Import & Export Co. W.L.L. to expand the brand’s presence into Qatar.

$RT {{ '2017-04-06T22:14:25+0000' | timeago}} • Webcast

$RT sees wage inflation as a headwind for the next FY. The company estimates to generate cash proceeds of $45-50MM from the sale of properties.

$RT {{ '2017-04-06T21:53:01+0000' | timeago}} • Webcast

Through the first three quarters of FY17, $RT incurred $30.2MM of pretax expense related to executing the Asset Rationalization Plan. For FY17, the company expects $32-34MM of pretax expense. These expenses are comprised of restaurant closing costs, corporate restructuring, lease terminations, asset impairments, holding and other associated costs.

$RT {{ '2017-04-06T21:38:50+0000' | timeago}} • Webcast

$RT said that the casual dining industry remains highly challenged and promotionally competitive and its sales results in 3Q17 largely reflect these conditions. The company completed 13 remodels with 7 located in Charlotte, NC and 6 in Jacksonville, Fl. $RT has temporarily stopped the remodeling program as it reviews strategic alternatives.

$RT {{ '2017-04-06T20:41:15+0000' | timeago}} • Announcement

$RT said it is in the contract process to sell 28 properties with average expected net proceeds of $40.4MM. This includes 27 properties closed as a result of Asset Rationalization Plan. As of the end of 3Q17, $RT has settled 28 of the 61 leased properties closed as a result of the Asset Rationalization Plan for about $7.0MM.

$RT {{ '2017-04-06T20:39:31+0000' | timeago}} • Announcement

As of Feb. 28, 2017, there were 607 $RT restaurants system-wide, of which 544 were company-owned. During 3Q17, 2 company-owned restaurants were closed. Also, 1 international franchised $RT restaurant was opened, and 1 domestic franchised and 4 international franchised $RT restaurants were closed during the quarter.

$RT {{ '2017-04-06T20:37:50+0000' | timeago}} • Announcement

$RT's revenue for 3Q17 fell to $225.7MM from $271.5MM last year. This was due to a net reduction of 105 Company-owned Ruby Tuesday restaurants and a same-restaurant sales decline of 4.0% at Company-owned Ruby Tuesday restaurants. Challenging external environment impacted guest traffic, which fell 3.8% year-over-year.

$RT {{ '2017-04-06T20:35:36+0000' | timeago}} • Announcement

$RT named James F. Hyatt, II as President and CEO and a member of the Board of Directors, effective immediately. Mr. Hyatt has previously worked with Church’s Chicken, Cosí and Burger King.

$RT {{ '2017-04-06T20:31:14+0000' | timeago}} • Announcement

$RT reported a wider loss in 3Q17 due to store closures and impairment charges as well as highly challenging casual dining environment. Net loss widened to $19.8MM or $0.33 per share from $3.1MM or $0.05 per share last year. Adjusted loss per share was $0.06 compared to EPS of $0.03 a year ago.

$RT {{ '2017-03-14T15:27:32+0000' | timeago}} • Announcement

$RT said it will will explore strategic alternatives in order to maximize shareholder value and position the business for long-term success. Also, the company reported preliminary 3Q17 total revenue, including franchise revenue, of about $225.7MM, and same restaurant sales of down about 4%. Total cash balance is about $32.6MM for 3Q17.

$RT {{ '2017-03-14T15:25:44+0000' | timeago}} • Announcement

$RT said it will explore strategic alternatives in order to maximize shareholder value and position the business for long-term success. The BoD will consider all strategic alternatives including, but not limited to a potential sale or merger of the company, and has retained UBS as its financial advisor to assist in the process.

$RT {{ '2017-01-05T23:01:06+0000' | timeago}} • Webcast

$RT currently has 25 properties in a contract phase and the average for these properties is about $1.6MM. Out of these, 20 are restaurants that were recently closed as part of the asset rationalization plan. Looking at the number of restaurants under contract, the company believed it was rational to raise the estimated proceeds number.

$RT {{ '2017-01-05T22:36:19+0000' | timeago}} • Webcast

In 2Q17, $RT completed the sale of its property at 150 W. Church Avenue in Maryville, Tennessee for $2.8MM. The company ended 2Q17 with cash and cash equivalents totaling $38.6MM and debt of $223.2MM.

$RT {{ '2017-01-05T22:25:25+0000' | timeago}} • Webcast

During 2Q17, $RT’s same-restaurant sales underperformed the industry by approx. 220BP. Guest counts fell 2.8%, outperforming the industry by approx. 140BP. Net check average declined 1.3% and trailed the industry by approx. 360BP. A 1.5% increase in pricing was more than offset by promotional activity during 2Q17.

$RT {{ '2017-01-05T21:45:00+0000' | timeago}} • Announcement

As of November 29, 2016, there were 613 Ruby Tuesday restaurants system-wide, of which 546 were Company-owned. During 2Q17, $RT closed one Company-owned Ruby Tuesday restaurant and one international franchised Ruby Tuesday restaurant.

$RT {{ '2017-01-05T21:40:34+0000' | timeago}} • Announcement

Restaurant chain operator $RT reported a quarterly loss for 2Q17. Net loss was $38MM or $0.63 per share compared to net loss of $15.8MM or $0.26 per share in 2Q16. Total revenue was $214.7MM, down 17.7% from last year  due to a net reduction of 109 Company-owned Ruby Tuesday restaurants and a same-restaurant sales decline of 4.1%.

$RT {{ '2016-10-06T22:26:33+0000' | timeago}} • Webcast

$RT said it will market the sale of the land and the building where about 300 of its closed properties are located.

$RT {{ '2016-10-06T22:14:34+0000' | timeago}} • Webcast

$RT said that for the first half the inflation is pretty nominal, about 30 BP for FY17, in line with the expectations.  Some deflation in beef and poultry are being offset by improvement in dairy, oils and dressings.

$RT {{ '2016-10-06T21:48:16+0000' | timeago}} • Webcast

$RT said that as part of its Fresh New Menu, rolling out in Nov., the company will be reducing the number of items being offered by about 30% to about 95. $RT remains on track to complete 11-13 remodels by the end of CY16 in the Charlotte North Carolina and Jacksonville Florida markets. $RT will prioritize remodels on a market -by-market basis.

$RT {{ '2016-10-06T21:40:06+0000' | timeago}} • Webcast

$RT expects to drive traffic to its restaurants through its Fresh Start Initiatives. This initiative includes Fresh New Menu, Fresh New Garden Bar and Fresh Experience. The company reduced the number of items being offered by over 40% in 7 of its restaurants to improve guest experience, helping them to order more quickly and get the meal faster.

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