Ruby Tuesday said it would not develop any new corporate-owned restaurants in 2010 and noted it would close a total of 14 for the year, including one in the fourth quarter. The closings are part of a previously announced plan to close 30 restaurants over time as their leases expire. However, domestic franchisees are expected to open two to three new units this year and international franchisees will open three to five restaurants.
Ruby Tuesday Plans 5 International Openings for 2010
Ruby Tuesday said its upscale repositioning is starting to gain traction with consumers, leading the company to its best quarterly sales performance in three years.