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Article: Luby's Announces First Quarter Results; Company Posts Increased Same-Store Sales, Smaller Net Loss than Prior Year.
- Article from:
- Business Wire
- Article date:
- December 30, 2004
CopyrightCOPYRIGHT 2004 Business Wire. 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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HOUSTON -- Luby's Inc. (NYSE:LUB) today announced the results of operations for the first quarter of fiscal 2005, ended Nov. 17, 2004. Same-store sales increased 4.2% over the prior year and the Company posted a net loss for the quarter of $1.2 million compared to a $4.5 million loss last year. The Company's debt decreased by $2.8 million during the first quarter.
"We're pleased to post an increase in same-store sales for the first quarter," said Chris Pappas, president and CEO. "I'm also proud that we were able to continue to pay down our debt during the quarter as we sold additional closed restaurant properties."
During the first quarter, sales ...