Restaurant News Resource - Ruth’s Hospitality Group Restaurant Industry News

Total revenues in the first quarter rose 3.4% to $101.0 million compared to $97.7 million in the prior year - Company-owned comparable restaurant sales for Ruth’s Chris Steak House increased 3.7% - Company-owned comparable restaurant sales for Mitchell’s Fish Market were flat.

Ruth’s Hospitality Group, Inc., (Nasdaq: RUTH) announced that it has repurchased and will retire all of the outstanding shares of its Series A 10% Convertible Preferred Stock owned by affiliates of Bruckmann, Rosser, Sherrill & Co. LLC for $60.2 million in cash.

Total revenues in the fourth quarter rose 7.1% to $99.6 million compared to $93.0 million in the prior year. Total revenues in full year 2011 rose 4.7% to $369.6 million compared to $353.0 million in the prior year.

Company-owned comparable restaurant sales for Ruth’s Chris Steak House increased 2.6%. Company-owned comparable restaurant sales for Mitchell’s Fish Market decreased 0.7%.

On October 20, Ruth's Chris celebrates 26 generations of best-in-class winemaking from Tuscany's Antinori family with a special Antinori wine dinner at 38 of its locations across the United States.

Food and beverage costs, as a percentage of restaurant sales, increased 120 basis points to 30.5%, primarily due to unfavorable beef costs. Restaurant operating expenses, as a percentage of restaurant sales, decreased 150 basis points to 51.7%, primarily due to sales leverage on fixed costs.

Ruth’s Hospitality Group, Inc. (Nasdaq: RUTH) announced today that Executive Vice President & Chief Financial Officer Bob Vincent will transition to a newly created position of Senior Vice President of Corporate Strategy.

The Company updated its earnings release dated April 29, 2011 to include a pre-tax $0.5 million restructuring benefit which increased net income available to preferred and common shareholders to $6.2 million for the period, resulting in no change to the previously reported earnings of $0.14 per diluted share.

Total revenues were $98.8 million compared to $94.7 million in the prior year.

Total revenues were $94.1 million compared to $87.4 million in the prior year.