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Fast-Growing Rubio's Chain Reports Earnings Lower Than Expected

CARLSBAD-A fast-growing local chain plans to slow down its opening of new restaurants, following sobering financial projections. Higher labor, food and energy costs are the problem.

By Randyl J. Drummer | Updated on December 21, 2000

CARLSBAD-Rubio’s Restaurants Inc. today announced that earnings will fall short of analysts’ estimates, due to cost pressures and lower unit sales at the fast-growing restaurant chain.

Full-year 2000 earnings per share for the Carlsbad-based chain are now expected to be in the range of 12 to 14 cents, compared to the analyst’s consensus of 18 cents.

Cost pressures impacting the company in the fourth quarter include higher-than-expected labor costs due a significant increase inCalifornia workers’ compensation costs, as well as higher energy and food costs.

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