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Ruth's Hospitality Group Reports First Quarter 2020 Financial Results
Ruth’s Hospitality Group, Inc., provided a business update on the impact of the COVID-19 pandemic, and reported unaudited financial results for its first quarter ended March 29, 2020.
COVID-19 Business Update:
During the first quarter of 2020, the Company began to experience the impact of the COVID-19 pandemic on its business. While first limited to franchise locations in Asia, by the middle of March, the effect of the pandemic was felt throughout the Company’s entire operations. These effects have continued in the second quarter, resulting in...
Technomic: Foodservice Spending Continues a Slow Rebound
Consumer spending estimates bottomed out at a decrease of 35% of expected sales the week of April 12 and has grown to a level that may be pulling us off the bottom of the market. The cumulative loss in spending has declined for the first week since the start of the pandemic. However, it is important to note that previous weeks showed fluctuations that could foretell more up and down movement in the trends in coming weeks.
Off-premise ordering at FSRs sees high growth this week
Ordering by nondelivery, off-premise methods has increased across all segments this week. For fast-food restaurants, this was driven by drive-thru orders (59%). Growth at FSRs was driven by a mix of drive-thru and takeout orders. Overall, casual-dining and fine-dining restaurants saw the largest jump...
Ruth's Hospitality Group Provides Update on COVID-19 Response
Ruth’s Hospitality Group, Inc. announced steps that the Company has taken to implement conservative cash management strategies designed to increase available liquidity and maximize financial flexibility until the COVID-19 pandemic abates and market conditions stabilize.
“The safety and well-being of our team members and guests is our priority in these challenging times. Our brand has a rich history of rising to the occasion and I am proud of our team’s response to this unprecedented situation,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. “Our management team and Board of Directors have...
Ruth’s Hospitality Group Reports Fourth Quarter and Fiscal Year 2019 Financial Results
Ruth’s Hospitality Group, Inc. reported unaudited financial results for its fourth quarter and fiscal year ended December 29, 2019.
Highlights for the fourth quarter of 2019 were as follows:
Ruth’s Hospitality Group, Inc. Reports Third Quarter 2019 Financial Results
Ruth’s Hospitality Group, Inc. today reported unaudited financial results for its third quarter ended September 29, 2019.
Highlights for the third quarter of 2019 were as follows:
TripAdvisor Reveals Diners' Favorite Restaurants with 2019 Travelers' Choice Awards
TripAdvisor, the world's largest travel platform, today announced the winners of its annual Travelers' Choice Awards for Restaurants. Based on a full year of TripAdvisor reviews, these restaurants were consistently given high ratings and praise by diners across the globe.
This year, the awards recognize 584 total restaurants globally and 75 U.S. restaurants in the categories of Fine Dining, Everyday Dining and Fast Casual. Award winners were determined by factoring in the quantity and quality of reviews, gathered over a 12-month period. Daniel in New York City has been awarded the top U.S. Fine Dining spot this year, reclaiming...
Ruth’s Hospitality Group Reports Second Quarter 2019 Financial Results
Ruth’s Hospitality Group, Inc. (the “Company”) (NASDAQ: RUTH) today reported unaudited financial results for its second quarter ended June 30, 2019.
Highlights for the second quarter of 2019 were as follows:
Net income in the second quarter of 2019 included $71 thousand in acquisition-related expenses associated with...
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