Search
 

Ruby Tuesday Plans 90 Units

MARYVILLE, TN-The casual dining chain emerges from the doldrums and plans to open 90 new stores this year.

By Jennifer D. Duell | Updated on January 09, 2006

MARYVILLE, TN-Ruby Tuesday Inc.’s turnaround efforts have been successful, said the chain’s chairman and CEO Sandy Beall during the company’s second quarter fiscal 2006 conference call. “We have strong momentum,” he said, adding that one of the chain’s key goals for the future is continued restaurant expansion.

During 2006, Ruby Tuesday plans to open 50 company-owned stores and 40 franchisee units with the objective of opening 100 units or more in the coming years. Beall said that the chain has already locked down 800 plus locations across the United States and expects to bring on an additional 15 franchisees to encourage store expansion. The company projects capital expenditures for fiscal 2006 to reach $175 million to $180 million.

In September 2005 the chain returned to positive same-store sales on a system-wide basis. Of the chain’s existing company-owned restaurants, same-store sales increased 1.9% for the quarter with same-store sales at Ruby Tuesday’s freestanding restaurants, which represent approximately 80% of the units, increasing 2.6%. Same-store sales at franchise restaurants decreased 0.2% during the quarter. “Our goal is to have 3% to 4% same-store sales increases,” Beall said, adding later in the call that the executive team believes those numbers represent a realistic goal.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.