Ruby Tuesday CEO Resigns, Offers Weak Outlook

By Wallace WitkowskiMarketsMarketWatch Pulse

Ruby Tuesday Inc. said late Tuesday its chief executive resigned and released preliminary results for the quarter that fell below Wall Street estimates. Ruby Tuesday shares were flat at $3.05 without any indication of a trade halt. The casual-dining chain said James Buettgen resigned effective immediately and appointed F. Lane Cardwell as interim president and CEO while the company searches for a replacement. Ruby Tuesday also said it expects an adjusted loss of 10 cents to 12 cents a share for the fiscal first quarter on revenue of $256.7 million. Analysts surveyed by FactSet had estimated a loss of 1 cent a share on revenue of $263 million.

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