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Last $7.39 USD
Change Today +0.05 / 0.68%
Volume 21.5K
RT On Other Exchanges
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As of 10:20 AM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

ruby tuesday inc (RT) Key Developments

Ruby Tuesday, Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended June 2, 2015; Provides Earnings Guidance for the Fiscal 2016

Ruby Tuesday, Inc. announced earnings results for the fourth quarter and full year ended June 2, 2015. Impacted by a net reduction of 10 Company-owned Ruby Tuesday Restaurants on a year on year basis in the fourth quarter, its total revenue declined 3.4% year on year or by $10.5 million to $296.8 million, during the quarter. A 1.7% drop in same-restaurant sales further weighed on fourth quarter of 2015 performance. Meanwhile, net income from continuing operations stood at $4.3 million, or $0.07 per diluted share, as against a net loss from continuing operations of $881,000, or loss of $0.01 per diluted share, in the corresponding period a year ago. For the fiscal year 2015, Ruby Tuesday's total revenue from continuing operations plummeted 3.6% year on year to $1.13 billion due to the net reduction in the total number of restaurants over the year and a 0.5% decline in same-restaurant sales. Net loss from continuing operations narrowed to $3.2 million, or loss of $0.05 per diluted share, compared to net loss from continuing operations of $64.9 million, or loss of $1.08 per diluted share in 2014. Additionally, adjusted net income from continuing operations stood at $695,000, or adjusted EPS of $0.01 per diluted share, as against the adjusted net loss from continuing operations of $39.4 million, or $0.65 adjusted EPS in 2014. For 2016, Ruby Tuesday expects same-restaurant sales to be in the range of flat to up 2% while expecting the same-restaurant sales for First Quarter 2016 to be in line with this range. For the year, the company anticipates restaurant level margins to be in the range of 17.0% to 17.5% of restaurant sales and operating revenue. For full-year, the company expects its adjusted EPS to be in the range of $0.12 to $0.17.

Ruby Tuesday Announces Executive Changes

Ruby Tuesday, Inc. announced the promotion of Brett Patterson to the role of company Concept President and the resignation of Todd Burrowes, company Concept President and Chief Operations Officer. These changes are effective immediately. Patterson is an accomplished restaurant executive with over 25 years of industry experience. He joined Ruby Tuesday as Vice President of Operations in 2013 and was promoted to Senior Vice President of Operations in September 2014. Patterson will become a member of the Executive Team and will report directly to Buettgen.

Ruby Tuesday, Inc. Reports Consolidated Unaudited Earnings Results for the Thirteen Weeks and Fifty Two Weeks Ended June 2, 2015

Ruby Tuesday, Inc. reported consolidated unaudited earnings results for the thirteen weeks and fifty two weeks ended June 2, 2015. For the thirteen weeks, the company reported total revenue of $296,812,000 compared with $307,311,000 for the same period last year. Earnings from operations were $11,665,000 compared with $8,110,000 for the same period last year. Income from continuing operations before income taxes was $5,713,000 compared with $2,324,000 for the same period last year. Net income from continuing operations was $4,283,000 or $0.07 diluted per share compared with net loss from continuing operations $881,000 or $0.01 diluted per share for the same period last year. Net income was $4,283,000 or $0.07 diluted per share compared with net loss of $414,000 or $0.01 diluted per share for the same period last year. For the fifty two weeks, the company reported total revenue of $1,126,566,000 compared with $1,168,746,000 for the same period last year. Earnings from operations were $17,630,000 compared with loss from operations of $43,266,000 for the same period last year. Loss from continuing operations before income taxes was $5,105,000 compared with $69,575,000 for the same period last year. Net loss from continuing operations was $3,194,000 or $0.05 diluted per share compared with net loss from continuing operations $64,910,000 or $1.08 diluted per share for the same period last year. Net loss was $3,194,000 or $0.05 diluted per share compared with net loss of $64,346,000 or $1.07 diluted per share for the same period last year.

Ruby Tuesday Appoints David Skena as Chief Marketing Officer

Ruby Tuesday, Inc. announced the appointment of David Skena as Chief Marketing Officer, effective July 21, 2015. In the Chief Marketing Officer role, Skena will be responsible for developing and implementing effective marketing strategies and initiatives to build brand awareness and customer loyalty through traditional media, digital and social channels, and other innovative platforms. Over the past nine years, Skena progressed through PepsiCo, Inc. with increasing levels of responsibility, most recently serving as the Vice President of Premium and Value Brands, including Stacy’s Pita Chips and Smartfood popcorn, among others.

Ruby Tuesday, Inc. Enters into an Amendment to Four-Year Revolving Credit Agreement

Ruby Tuesday, Inc., and certain of its subsidiaries, entered into an amendment to its previously-disclosed four-year revolving credit agreement with Bank of America, N.A., as administrative agent; Wells Fargo, National Association; and Regions Bank. Prior to the amendment, the senior credit facility permitted the company to exclude up to $2.5 million of certain mortgage prepayment penalties from its consolidated fixed charges for purposes of calculating the fixed charge coverage ratio. The amendment increases the amount of the mortgage prepayment penalty exclusion from $2.5 million to $5.0 million. In addition, the amendment removes the monthly financial reporting requirement and modified the definition of base rate or LIBOR, plus an applicable margin such that the interest rate charged will not fall below zero. The amendment also contains other revisions to the senior credit facility that the company does not deem material for purposes of this report.

 

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Price/Cash Flow 9.7x
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