Ruby Tuesday, Inc. ($RT) new restaurant expansion development and closing plan for FY 2012
New Restaurant Expansion Development Summary in US: 1 Truffles Grill, 6-8 Lime Fresh Mexican, and +/- 1-3 franchised Ruby Tuesday locations
Restaurant Closing Plan Summary in US: 5-7 corporate Ruby Tuesday restaurants closing, +/- 1-3 franchised Ruby Tuesday restaurants closing
From Ruby Tuesday, Inc. ($RT)’s Q2 2012 earnings call on January 5, 2012, Greg Ashley, Vice President of Finance:
For the year, we expect to convert 8 to 10 lower performing company-owned restaurants to and other high-quality casual dining concepts, close 5 to 7 company-owned restaurants excluding the conversions, open 1 new Truffles Grill and open 6 to 8 Lime Fresh Mexican restaurants. For the year, our franchisees expect to open 7 to 9 restaurants, up to 6 of which will be international and close 15 to 17 restaurants, up to 14 of which will be international.
Samuel Beall, Co-Founder, Executive Chairman, Chief Executive Officer and President:
opening additional Lime restaurants and creating a development pipeline for up to 15 additional openings next fiscal year.