Tennessee Business: Ruby Tuesday
9:37 am
Thu January 9, 2014

Second-Quarter Losses Lead To More Closings For Ruby Tuesday

Credit http://53riverbankrun.com/blog/charitypartners/files/2013/03/Ruby_Tuesday.png

Maryville-based restaurant chain Ruby Tuesday has reported major second quarter losses.

The Knoxville News Sentinel reports that the Ruby Tuesday restaurant chain saw second-quarter net losses of $34.4 million, or 57 cents per share. That’s compared to a loss of $15 million, or 24 cents per share, during the same period last year. Total second-quarter revenue was $276.2 million, compared with over $300 million last year.  

The company eliminated 70 job positions in November and December and now plans to close 30 restaurants this year.