Friday, August 12, 2016

Ruby Tuesday shares plummet on disappointing sales, restaurant closures

Image result for ruby tuesdayRuby Tuesday shares plummeted 12 percent on Friday after the company posted weak same-store sales for the fiscal fourth quarter and reported that it would shutter 13 percent of its restaurants.

Same-store sales for the Tennessee-based restaurant operator fell 3.7 percent, worse that the 1.7 percent decline in the year-ago quarter. Traffic dropped 4.6 percent in the quarter, according to the company.. . . more

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