Shares of Ruth’s Hospitality Group closed 6.1% higher on Friday after the fine dining restaurant operator reported 4Q earnings that topped the Street’s estimates. Ruth’s (RUTH) reported a 94.2% year-over-year decline in 4Q earnings of $0.03 per share compared to the Street’s expectations of break-even earnings. Meanwhile, the company’s revenues of $77.4 million declined 42.7% year-over-year and fell short of consensus estimates of $77.8 million. Restaurant sales declined 43.2% year-over-year to $72.2 million, while franchise income reduced 28% to $3.6 million. Comparable restaurant sales at company-owned restaurants declined 39.7% in 4Q due to a 34.7% decline in traffic and a 7.6% decrease in average check.
https://www.tipranks.com/news/ruths-hospitality-pops-6-1-as-4q-profit-tops-estimates
Ruths Hospitality (NASDAQ:RUTH)
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Ruths Hospitality (NASDAQ:RUTH)
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