Friday, March 17, 2017

Goodbye, Ruby Tuesday?

A typical Ruby Tuesday restaurant (photo provided)
Over the past decade, the Ruby Tuesday restaurant chain has shrunk by half and it has not generated a profit since 2011. So, why is it still in business? Well, it seems to be just a matter of time till it isn't.

Ruby Tuesday remains popular in New York State with 20 locations, including four in the Greater Capital Region -- at Crossgates Mall in Guilderland, on Route 7 in Latham, on Maxwell Drive in Clifton Park, and on Route 30 in Amsterdam.

However, the industry publication Nation's Restaurant News just reported:
"This week, Ruby Tuesday ended years of speculation by all but putting a for-sale sign on the outside of its 613 restaurants. Investors cheered the move, bidding up the stock by more than 24% on Tuesday, and then another 7% on Wednesday.

"Ruby Tuesday’s stock, even after that surge, is still down by more than a third since last fall, and less than half of where it was a year ago. The chain has struggled to generate sales growth for more than a decade, and operates in arguably the restaurant industry’s most depressed sector: bar and grill. Yet there will be buyers, thanks to its real estate."
Its real estate? Yup. Go here for the full story.
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