Ruby Tuesday (RT) Q4 Results Fall Short
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Price: $2.40 --0%
Financial Fact:
Diluted (in dollars per share): -0.66
Today's EPS Names:
SVBT, ZEO, OTLK, More
Financial Fact:
Diluted (in dollars per share): -0.66
Today's EPS Names:
SVBT, ZEO, OTLK, More
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Ruby Tuesday, Inc. (NYSE: RT) reported Q4 EPS of $0.12, $0.07 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $316.1 million versus the consensus estimate of $332.17 million.
Same-restaurant sales decreased 3.1% at Company-owned Ruby Tuesday
restaurants and decreased 5.1% at domestic Ruby Tuesday franchise
restaurants.
Fiscal Year 2014 Outlook
During fiscal 2014 we will be implementing a number of strategic initiatives to reposition our brand including improving our menu offerings and marketing. As a result of these initiatives, combined with the current challenging casual dining environment, we have decided not to provide earnings guidance for fiscal 2014. There are, however, certain items which we would like to highlight for fiscal 2014, including the following:
Same-Restaurant Sales – We anticipate same-restaurant sales to be down high single digits in the first quarter and positive in the back half of the year, with sequential improvement in each quarter as we roll out our new menu offerings and supporting marketing campaign late in the first quarter
Tax Credits – We do not anticipate recognizing a benefit from tax credits generated during fiscal 2014. The historical income tax benefit of these tax credits has been $2.2 - $2.4 million per quarter.
Capital Expenditures – Estimated to be $40 - $44 million for the year, inclusive of approximately $6 million in capital related to expense savings initiatives
Excess Real Estate – We expect to generate $10-$15 million of cash proceeds from the disposition of excess real estate
Free Cash Flow – We expect a year-over-year improvement in our free cash flow
For earnings history and earnings-related data on Ruby Tuesday, Inc. (RT) click here.
Same-restaurant sales decreased 3.1% at Company-owned Ruby Tuesday
restaurants and decreased 5.1% at domestic Ruby Tuesday franchise
restaurants.
Fiscal Year 2014 Outlook
During fiscal 2014 we will be implementing a number of strategic initiatives to reposition our brand including improving our menu offerings and marketing. As a result of these initiatives, combined with the current challenging casual dining environment, we have decided not to provide earnings guidance for fiscal 2014. There are, however, certain items which we would like to highlight for fiscal 2014, including the following:
Same-Restaurant Sales – We anticipate same-restaurant sales to be down high single digits in the first quarter and positive in the back half of the year, with sequential improvement in each quarter as we roll out our new menu offerings and supporting marketing campaign late in the first quarter
Tax Credits – We do not anticipate recognizing a benefit from tax credits generated during fiscal 2014. The historical income tax benefit of these tax credits has been $2.2 - $2.4 million per quarter.
Capital Expenditures – Estimated to be $40 - $44 million for the year, inclusive of approximately $6 million in capital related to expense savings initiatives
Excess Real Estate – We expect to generate $10-$15 million of cash proceeds from the disposition of excess real estate
Free Cash Flow – We expect a year-over-year improvement in our free cash flow
For earnings history and earnings-related data on Ruby Tuesday, Inc. (RT) click here.
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