Ruby Tuesday Q2 net loss increases

Ruby Tuesday, Inc., a restaurant chain, has reported net loss of $15.07 million, or $0.24 loss per share, for the second quarter ended December 4, 2012, compared to net loss of $2 million, or $0.03 loss per share, for the same quarter ended November 29, 2011.

Total revenue for the second quarter ended December 4, 2012 was $304.23 million, compared to $307.4 million for the same quarter ended November 29, 2011.

Net loss for the six months ended December 4, 2012 was $12.47 million, or $0.2 loss per share, compared to net income of $1.09 million, or $0.02 per share, for the same period ended November 29, 2011.

Net revenue for the six months ended December 4, 2012 was $637.15 million, compared to $637.75 million for the same period ended November 29, 2011.

JJ Buettgen, President and CEO, commented, "I am honored and excited to be leading this great company and look forward to working with the Board and the management team to drive profitable sales growth and create significant shareholder value going forward. We were pleased to report our second consecutive quarter of positive same-restaurant sales in this challenging economic environment and are intently focused on consistently and profitably growing same-restaurant sales at our Ruby Tuesday concept.

"However, given the uncertain and volatile consumer spending environment, as well as the level of competitive intensity we have seen in the restaurant sector over the last several months, we are projecting approximately flat same-restaurant sales for the year."