Ruby Tuesday Reports Q2 2013 Results
Restaurant chain Ruby Tuesday has released its Q2 2013 results. In an official statement, the company said its total revenue came in at $304 million, down 1% on a year-over-year basis. Net loss amounted to $15 million, or $0.07 per share, against Q2 2012's $2 million.
Same-restaurant sales, meanwhile, advanced slightly over that one-year period by 0.3%.
The results were slightly worse than expected. Analysts had been expecting a net loss of $0.06 and for same-restaurant sales to grow by 1%.
For the full 2013 fiscal year, the company anticipates that same-restaurant sales will be flat on a year-over-year basis. It also counts on opening 12 to 14 restaurants, many of which will be located abroad. It is to close four or five during the fiscal year.
Ruby Tuesday also announced that its board authorized the expansion of its share repurchase program by 10 million shares, bringing the total to 12.7 million.
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