Restaurants Close, Sales Slide at Ruby Tuesday

October 7, 2016

Ruby Tuesday lost nearly $40 million and closed 95 restaurants in the fiscal first quarter of 2017, the restaurant reported Friday.

Since the first quarter of last year, Ruby Tuesday has closed 109 company-owned restaurants and seen its revenue fall by 8.2 percent to $256.7 million.

Same-restaurant sales declined 2.7 percent compared to a 0.6 percent increase last year.

Lane Cardwell, interim president and CEO, says in a statement that the company plans to drive traffic through the strategies of its new Fresh Start initiatives, including a “Fresh New Menu, Fresh New Garden Bar, and Fresh Experience.”

“We are focused