- Ruth's Hospitality (NASDAQ:RUTH) reports company-owned comparable restaurant sales rose 1.1% in Q1, consisted of an average check increase of 1%.
- Traffic increased 0.1% for the quarter.
- Total restaurant sales expanded 16% to $117.39M.
- Franchise income up 0.6% to $4.4M.
- Average unit weekly company-owned sales down 0.7% to $110.3K.
- Food and beverage costs as a percentage of restaurant sales fell 28 bps to 28.5%.
- Operating margin rate squeezed 130 bps to 14.1%.
- FY2018 Guidance: Food and beverage costs: 29% to 31% of restaurant sales; Restaurant operating expenses: 47% to 49% of restaurant sales; Marketing and advertising costs: 3.8% to 4% of total revenues; G&A expenses: $32M to $34M; Effective tax rate: 19% to 21%; Capital expenditure: $29M to $31M; Diluted shares outstanding: 30.5M to 31M.
- Previously: Ruth's Hospitality beats by $0.02, beats on revenue (May 4)
- Now read: Restaurant Brands International - 100% Franchise, 100% Dividend
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