Ryan's Restaurant Group, Inc. Reports Sales Results for November 2005
December 05 2005 - 12:44PM
PR Newswire (US)
GREER, S.C., Dec. 5 /PRNewswire-FirstCall/ -- Ryan's Restaurant
Group, Inc. (NASDAQ:RYAN) today reported sales results for the
4-week period ended November 30, 2005 ("November"). Same-store
sales for November increased by 1.7% as compared to the November
2004 four-week period. Other details and comments follow:
(Unaudited) November 2005 Total sales (000's) $62,700 Change from
prior year +3% Average unit sales: Same stores (open at least 18
mos.) +1.7% All stores (all units) +3.8% During November,
management modified the all-store and same-store sales calculation
methods that it uses to review the ongoing performance of the
Company's restaurants. All-store and same-store sales have been and
continue to be a monthly average of weekly sales results. The
principal modification to the all-store sales calculation involves
a change in the initial inclusion date of new restaurants. For
same-store sales, the new method includes relocated or converted
restaurants in a week's same-store sales calculation only if those
restaurants were open for the entire week during both the current
and prior years. The former method included such stores in the
calculation whether they were open or not during the same week in
the prior year. A comparison of all-store and same-store sales
results for September and October of 2005 (as compared to the
corresponding four-week and five-week period, respectively, in the
prior year) follows: September October 2005 2005 All-store sales:
Former method (as reported) -3.0% +2.1% New method -2.7% +2.4%
Same-store sales: Former method (as reported) -4.2% +1.4% New
method -4.6% +0.6% Management plans to recalculate same-store sales
results for months prior to September 2005 in order to have
comparable amounts in its future SEC filings. At November 30, 2005,
the Company owned and operated 339 restaurants. The Company's next
accounting period consists of 4 weeks, ending on December 28, 2005
(quarter-end and fiscal year-end). Forward-Looking Information: In
accordance with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, the Company cautions that
the statements in this press release that are forward- looking
involve risks and uncertainties that may impact the Company's
actual results of operations. For a more thorough discussion of
these risks, uncertainties and other factors, please refer to the
Company's Annual Report on Form 10-K for the fiscal year ended
December 29, 2004. DATASOURCE: Ryan's Restaurant Group, Inc.
CONTACT: Fred T. Grant, Jr. of Ryan's Restaurant Group, Inc.,
Senior Vice President-Finance, +1-864-879-1000 Web site:
http://www.ryansrg.com/
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