$RT (Ruby Tuesday, Inc.)

$RT {{ '2016-09-14T14:59:37+0000' | timeago}} • Announcement

$RT's BoD appointed Lane Cardwell Jr. as Interim President and CEO following resignation of James Buettgen. Also, Buettgen, who had also served as Board Chairman, will not stand for reelection at the upcoming Annual Meeting on Oct. 5 and Lead Director Stephen Sadove has been named non-executive Board Chairman.

$RT {{ '2017-08-22T15:41:03+0000' | timeago}} • Webcast

$RT said going forward it expects to achieve $10MM in annual supply chain savings. The company anticipates wage inflation to be a headwind to profitability in the coming quarters. Ruby Tuesday will be soon launching a mobile application to to attract more customers.

$RT {{ '2017-08-22T15:19:28+0000' | timeago}} • Webcast

$RT said digital and mobile marking strategies will be employed extensively in the coming months to enhance same-restaurant sales, which will allow it to play on a level playing field with competitors. An initiative, including management restructuring, is under way to rightsize and optimize the company's general and administrative expenses.

$RT {{ '2017-08-22T15:02:30+0000' | timeago}} • Webcast

Restaurant chain $RT said it has built a roadmap for the next twelve months to revitalize the Ruby Tuesday brand. Strategies have been developed to address various operational challenges and to improve financial profitability. The company expects the measures would result in improved margins and EBITDA in fiscal 2018.

$RT {{ '2017-08-21T20:48:01+0000' | timeago}} • Announcement

$RT posted a non-GAAP net income of $3.9MM or $0.06 per share in 4Q17, lower than $6.3MM or $0.10 per share recorded in the year-ago quarter. Guest counts declined 3% annually during the quarter, while average check increased 1.3%. Currently, Ruby Tuesday is in the process to selling 21 properties with expected net proceeds of $28.2MM.

$RT {{ '2017-08-21T20:37:36+0000' | timeago}} • Announcement

Restaurant operator $RT remained in the negative territory in 4Q17, but the loss narrowed sharply to $0.14 per share from $0.46 per share a year earlier. Impacting the bottom line, revenues dropped 9% to $255MM, owing to a YoY reduction in company-owned restaurants. Same-restaurant sales were lower by 1.6% compared to 4Q16.

$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.

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