Ruby Tuesday's growth strategy calls for a shift in emphasis toremodelings, although the company still plans to add new units.Beall commented, "Our priority is on achieving positivesame-restaurant sales. It's where we have the most potential ofincreasing return on invested capital for our shareholders. Basedon that, we are investing more capital in existing assets byaccelerating our remodelings during the fiscal year."

With 933 Ruby Tuesday restaurants in 45 states and overseas,including both company-owned and franchised operations, RubyTuesday's goal is to complete remodels of substantially allcompany-owned restaurants. Along with that goal it is being moreselective on new locations.

The company's plans call for the opening of 20 to 25company-owned restaurants in the coming year and 25 to 35 franchiselocations. Commented Beall, "We do not intend to let the currentsales environment detract from our focus on doing what is rightlong-term for our guests and shareholders. We will continue tobuild a fresh new brand."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.