Winter Park-based Ruth’s Hospitality Group, parent of upscale steakhouse chain Ruth’s Chris, hopes to turn around sluggish sales growth when it reports its fourth quarter and 2016 annual earnings Friday morning.
The steakhouse chain disappointed in the third quarter when sales increased just 1.7 percent over the same period the year before and revenue slipped to $608,000 from $6.9 million.
The steakhouse chain has been on a slow growth plan in recent years since unloading seafood chain Mitchell’s Fish Market in 2014.
Analysts expect better growth from Ruth’s Chris Steakhouse restaurants in the fourth quarter. Analysts expect earnings per share of about 29 cents and sales to grow 3.6 percent to about $108.5, according to a survey of analyst from Yahoo! Finance.
For the year, analysts expect sales growth of 7.7 percent and revenues of $416.78 million, Yahoo reported.
Ruth's Chris has 145 restaurants worldwide. Ruth's Chris has 67 company-owned restaurants.
Stock for Ruth's Hospitality (NASDAQ: RUTH) was settled up 5 cents, or about 0.28 percent, in trading Thursday. The stock is up 8.9 percent in the last year.
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Yahoo declined to say how many people may have been affected. (Feb. 15, 2017)
Yahoo declined to say how many people may have been affected. (Feb. 15, 2017)
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