$RT (Ruby Tuesday, Inc.)

$RT {{ '2016-08-11T20:42:08+0000' | timeago}} • Announcement

Restaurant chain $RT reported a 4Q16 loss of $27.6MM or $0.46 per share compared to a profit of $4.28MM or $0.07 per share last year, due to lower revenue and higher closure and impairment expense. Total revenue fell 5.9% to $279.32MM, which included net reduction of 12 Ruby Tuesday restaurants and 17 Lime Fresh Mexican Grill restaurants.

$RT {{ '2017-10-16T20:53:24+0000' | timeago}} • Announcement

As part of the asset rationalization plan, $RT is in the process of selling 14 properties with expected net proceeds of $19.4MM or about $1.4MM per location. As of Sept. 5, 2017, the company completed sales for 20 properties and received $28.8MM in net proceeds, including $8.7MM of proceeds related to the sale of seven properties during 1Q18.

$RT {{ '2017-10-16T20:51:24+0000' | timeago}} • Announcement

$RT agreed to be acquired by a fund managed by NRD Capital. The transaction has been unanimously approved by $RT's BoD and NRD. The acquisition is expected to be completed during calendar 1Q18. UBS Investment Bank is serving as financial advisor to $RT and provided a fairness opinion to its BoD.

$RT {{ '2017-10-16T20:50:10+0000' | timeago}} • Announcement

$RT agreed to be acquired by fund managed by NRD Capital, an Atlanta-based private equity firm that specializes in franchised and multi-location business investments. NRD will buy all of $RT's common stock for $2.40 per share in cash, and assume or retire all debt obligations for total enterprise of about $335MM, excluding transaction expense.

$RT {{ '2017-10-16T20:46:35+0000' | timeago}} • Announcement

$RT's revenue for 1Q18 dropped by 15.3% to $217.3MM from last year. This was due to a net reduction of seven company-owned restaurants and a same-restaurant sales decline of 5.8% at company-owned restaurants. Year-over-year guest counts fell 9.4% while average check amount rose 3.6%.

$RT {{ '2017-10-16T20:37:35+0000' | timeago}} • Announcement

$RT reported a narrower loss in 1Q18 driven by lower closures and impairments expenses as well as a decline in operating costs and expenses. Net loss narrowed to $9.85MM or $0.16 per share from $39.69MM or $0.66 per share last year. Adjusted loss per share narrowed to $0.01 from $0.11.

$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.

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