SAN ANTONIO-Two Houston restaurateurs have purchased a 1.3-million share position in Luby’s Inc., a San Antonio-based cafeteria restaurant chain.

Harris and Christopher Pappas, owners of Pappas Restaurants in Houston now control 5.99% stake in Luby’s, which this week had posted a net loss of $2 million or .09 cents per share for its first quarter of fiscal 2001. For the same period in fiscal year 2000, the company had reported net income of $6.2 million or .28 cents per share.

First quarter 2001 sales had totaled $114 million in comparison to $123 million for first quarter 2000. Sales generated by 11 new restaurant openings in 2000 have been offset by 15 restaurant closings in 2000. Luby’s operates more than 220 cafeteria restaurants in 10 states, about three quarters of which are in Texas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.