Ruby Tuesday Shares Down After Company Misses Earnings, Sales

Ruby Tuesday Inc. said Thursday it lost $4.19 million, or 7 cents a share, in the fiscal first quarter, reversing earnings of $2.56 million, or 4 cents a share, a year ago. Adjusted for one-time items, the restaurant chain reported a loss of 3 cents a share, compared with EPS of 1 cent a year ago. Revenue for the quarter reached $279.5 million, down from $281,182 million a year ago. First-quarter same-restaurant sales were lower than a year ago, in part because, due to a late Labor Day holiday this year, sales during that holiday will be reported in the second quarter, not in the first quarter as last year, the company said. Analysts polled by FactSet had expected the company to report earnings of 4 cents a share on revenue of $280 million. Ruby Tuesday shares lost 6% in late trading after ending the regular trading day up 2.3%.