NEW YORK, August 3, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Ruby Tuesday, Inc. (NYSE: RT). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=RT
Highlights from our RT Report include:
- Q4 Fiscal 2015 Results - On July 23, 2015, the American multinational foodservice retailer, Ruby Tuesday, Inc. announced results for the fourth quarter and fiscal year ended June 2, 2015. Impacted by a net reduction of 10 Company-owned Ruby Tuesday Restaurants on a YoY basis in the fourth quarter, its total revenue declined 3.4% YoY or by $10.5 million to $296.8 million, during the quarter. A 1.7% drop in same-restaurant sales further weighed on Q4 FY 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.
- Results for the Full Year 2015 - For the fiscal year 2015, Ruby Tuesday's total revenue from continuing operations plummeted 3.6% YoY 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. As per the release, 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 adjusted EPS of ($0.65) in 2014.
- Outlook for 2016 -. 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 Q1 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. Meanwhile, the Company expects a net reduction of 11 to 14 Company-owned Ruby Tuesday restaurants in the upcoming year. Furthermore, for full-year, the Company expects its adjusted EPS to be in the range of $0.12 to $0.17.
To find out how this influences our rating on Ruby Tuesday, Inc., read the full report in its entirety here: http://www.aciassociation.com/?c=RT
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