Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (175694)	1/7/2009 7:44:33 PM
From: sspads	Respond to of 306849

LOL, (I love Jagger/Richards) shocking that it still exists. Quite frankly I cannot figure out how many of these retailers exist.

To: Smiling Bob who wrote (175694)	1/7/2009 11:43:38 PM
From: ChanceIs	Respond to of 306849

Ruby Tuesday's Loss Widens in Dim Sign for Restaurants Dying all the time Lose your dreams And you will lose your mind. Aint life unkind? By JANET ADAMY In a sign that restaurant sales won't rebound anytime soon, the chief executive of Ruby Tuesday Inc. offered a bleak outlook for the next several months as the company posted a wider loss and said same-store sales in its fiscal second quarter fell sharply. The results show how consumers are cutting back on eating out during the recession despite the discounts and freebies restaurants are offering. Analysts expect that chains will have to close more locations to survive what is looking like another difficult year. Ruby Tuesday expects same-store sales will drop 9% to 10% for the fiscal year ending June 2. Above, a Times Square branch in New York Investors recently have hoped that the worst times were behind restaurant chains. From Dec. 1 through Wednesday, the Dow Jones Wilshire U.S. Restaurants and Bars Index has risen 16.8%, while the Dow Jones Wilshire 5000 Index has risen 12.4%. But Ruby Tuesday's results indicate that 2009 may not be the year that restaurants rebound from a more than two-year downturn. For the quarter ended Dec. 2, Ruby Tuesday reported a loss of $37.4 million, or 73 cents a share, compared with a year-earlier loss of $10.4 million, or 20 cents a share. Same-store sales fell 11%. Revenue declined 9.7% to $289.8 million. Sandy Beall, Ruby Tuesday's founder and chief executive, said that fiscal 2009 is the most difficult year since the company's founding 37 years ago. The company expects same-store sales will worsen, declining 9% to 10% for the fiscal year. While most large restaurant chains are struggling, Ruby Tuesday has had a particularly difficult time. Since 2007, the company has invested heavily in a brand overhaul to make its food and atmosphere more contemporary, but the effort hasn't reversed the slide in same-store sales. During the past year, its shares have fallen 82%. The Maryville, Tenn., company's shares were down 9.2% to $1.49 in 4 p.m. New York Stock Exchange composite trading Wednesday, before the company released its quarterly results. Investors' main concern has been that the company has a lot of debt and declining profitability, said Howard Penney, an analyst at Research Edge LLC. Ruby Tuesday plans to close 40 locations early this year and will close an additional 30 restaurants over the next several years. The company said Wednesday that it has reduced its costs by an estimated $40 million to $45 million annually and is paying down its debt.