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Article: Ruby Tuesday's shares fall after Maryville, Tenn.-based chain's sales slump.
- Article from:
- The Knoxville News-Sentinel (Knoxville, TN)
- Article date:
- October 6, 2004
CopyrightCOPYRIGHT 2004 The Knoxville News-Sentinel. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Cynthia Yeldell
Oct. 6--MARYVILLE, Tenn. -- Declining first quarter sales and an overall gloomy company outlook sent Ruby Tuesday Inc.'s stock to a 52-week low Tuesday, with shares plunging nearly 15 percent to close at $23.35.
Two analysts downgraded Ruby Tuesday shares when the company said it expects earnings to be flat in the second quarter while sales at stores open at least a year are expected to fall 4 percent to 6 percent.
Sales at company-owned restaurants open at least a year, known as same-store sales, fell 9 percent in September, a period when several locations were closed multiple days because of hurricanes.
Sandy ...