Morgan Keegan Comments on Ruby Tuesday (RT) Following Earnings
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Morgan Keegan sees Ruby Tuesday (NYSE: RT) as reinventing itself as it "trumps industry trends."
The firm sees sales on an upward trend, fueled by better marketing, new menu items, and a refreshed image. The combination will help guests to rediscover Ruby Tuesday, the firm says.
Ruby Tuesday is aiming to increase check totals to between $12.50 - $14.50, as current levels hover around $11.
Because of its ability to pay down debt and sure-up liquidity concerns, Ruby Tuesday is now more in-line with its peers, adding to its ability to grow.
Ruby Tuesday is up $1.20 to $9.11 at mid-day trading.
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