>Shares of the company fell 10.2 percent in after-hours trading on Thursday after the chain reported a fourth-quarter net loss of $27.6 million, or 46 cents a share, compared with a net gain of $4.3 million, or 7 cents a share, in the same quarter last year. Adjusted earnings totaled 10 cents per share, while revenue totaled $279.3 million, down from $296.8 million last year. But the costs of the planned closures make up a large portion of the $43.8 million expense that reduced net earnings.
>The company said that employees displaced from the closed properties would be offered positions in nearby locations, when possible. Ruby Tuesday said it had a total of 724 locations as of May 31. "Performance at each of these locations, despite the loyalty of valued guests and the efforts of our dedicated employees, was not meeting expectations," he said.
>Total revenue dropped 5.9 percent during the company's fourth quarter, to $279.3 million.
I haven't been to the Ruby Tuesday in my town in several years. Are things really that bad there? My mailbox is constantly swamped with their coupon flyers that go straight into my waste-bin. I would hope that this is largely the result of more people buying fresh ingredients and cooking meals at home instead of eating expensive reheated Sysco entrees.
I haven't been to one in a couple of years, but one that was near me I liked. I would only bother getting burgers or other sandwich type items there and they were always very good. And their salad bar was great too. Had a ton of ingredients and always very fresh and tasty.
Isaac Moore
They chose locations at the time (10 years ago) when they built massive restaurants all over the country. that all turned out to be bad locations.
Every place they put one up, the surrounding area did one of two things:
1)Home prices in the area plummeted and was taken over my blacks, Hispanics, and immigrants in general renting all the houses (e.g. Antioch, Tn, Lavergne, Tn)
2)The area had an economic boom and people felt they are "too good" to eat at a chain restaurant (e.g. Mt. Juliet, Tn, Franklin, Tn)
Justin Peterson
They are just finally feeling the backlash of eliminating their tall cake off the menu. I haven't eaten there in a decade and will continue to not eat there until they can serve me cake and ice crew 10 inches tall in a goblet of the gods.
The whole chain was frequented by nothing but poor black people after they got rid of tall cake.
Joshua Diaz
How exactly does eliminating one dessert de-gentrify a restaurant? It's not like 'poor people' were going to splurge on a full course meal anyway.
Luis Rodriguez
The closest ruby tuesday to me is a homosexual hangout
Good riddance
Joseph Gray
I think a lot of people just pass over them because the food is average. It's just burgers and chicken type meals that aren't that difficult to make at home. Where I live there's one across from a Chili's and more people just go to the latter instead because it has a bigger variety of food and alcohol.
Aaron Collins
The patrician a kingly nature of the dessert, and price, likely made the poor folk feel unwelcomed, and the rich folk feel catered to.
Its like Porsche and Ferrari having "halo cars" that most people dont buy, but the fact that Ferrari has an enzo and Porsche has a 918 (which are categorically over the top and the best) makes deserving rich people feel like they are getting the best - and the poor pleb tier, that know they are not deserving of even seeing such a showroom halo car, stay away.
Aaron Carter
It still exists in my third world shithole (Chile). Except instead of being frequented by mostly black people it's frequented by mostly poorfags Groupon.
holy fuck that looks good why would they remove that glorious fucking thing
Cooper Evans
i'm dying
Nolan Sullivan
my parents used to take me to ruby tuesday all the time when I was a kid. I always got broccoli cheese soup with tendies and cheese fries. I'm pretty sure the tendies were sysco. I don't know about the soup. the last few times I went the portions kept getting smaller and smaller, and they replaced the random junk decorations with fancy looking lamps. if they're losing business it's probably because no one wants to pay more for half as much soup in a pretentious square bowl.
Christian Richardson
I've never been to one, have no idea what kind of food they serve and have no opinion on this whatsoever
Xavier Rivera
They were coasting ten years ago. The food was awful and pretty expensive for stuff that bad. The only people who ate there were people who didn't give a shit about food, but liked the idea of going out to a "sit down" restaurant. I have no idea how they've stayed in business this long. Terrible.
Lincoln Moore
i used to drink at my local rubys when I was underage, it was the best performing liquor sales store in their whole company. it would occasionally get rowdy as it was always packed.
their solution was to start closing the whole restaurant at 10pm.
they did this to themselves. The stock might be worth buying if it keeps going down as it could get bought out by another chain as a cheap investment into property etc. which of course would be a windfall for the investors.
Zachary Baker
I'm pretty sure that I've never seen one in a good location.
Didn't they try to be the hamburger place for a while?
Noah Rivera
I'm not even sure if I've ever gone to one now that I think about it.
Camden Gray
The ribs are really good there but I always notice that the place in my town is never really packed
Caleb Price
when the recession hit, RT had started remodeling a bunch of their restaurants to try to make them more upscale and drive up the average ticket. they've been trying to crawl out from under that decision ever since.
Levi Gomez
How do I find out which ones? Doesn't say in the link, they're probably the best chain restaurant around where I live, and do really well.
Jacob Anderson
No one knows, they come and go. Goodbye Ruby Tuesday
Jack Peterson
Really hate it, when the portions get smaller and smaller, yet the prices never get any cheaper. Well, most of them are like that, not just RTues.
