The increase to $78.1 million in the latest quarterly sales,which compared with $61.5 million for the first quarter of 2006,"was driven by comparable restaurant sales and 10 additionalrestaurants in operation during the period" this year, the companyreported. During the first quarter, the company opened locations inLake Mary and Naples, FL, while franchise partners opened locationsin Aspen, CO; Charlotte, NC and Oahu, HI.

For the first quarter of 2007, company-owned comparablerestaurant sales increased 1.9%, marking the 16th consecutivequarter of comparable sales growth. The sales growth occurreddespite winter storms in the Northeast and Midwest.

Ruth's Chris believes that despite "caution surrounding higherbeef prices and consumer trends," the company estimates thatcomparable restaurant sales will increase approximately 3% to 4%.The 42-year-old chain operates 105 locations worldwide.

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.