Ruth's Chris Steak House Inc. (RUTH, Financial) filed Quarterly Report for the period ended 2010-06-27.
Ruth's Chris Steak House Inc. has a market cap of $131.8 million; its shares were traded at around $3.84 with a P/E ratio of 9.8 and P/S ratio of 0.4. RUTH is in the portfolios of Michael Price of MFP Investors LLC.
Franchise Income. Franchise income increased $0.3 million, or 13.5%, to $2.8 million in the second quarter of fiscal 2010 from $2.5 million in the second quarter of fiscal 2009. The increase was driven primarily by an increase in comparable franchise-owned restaurant sales of 6.1%
Food and Beverage Costs. Food and beverage costs increased $1.1 million, or 4.6%, to $24.6 million in the second quarter of fiscal 2010 from $23.5 million in the second quarter of fiscal 2009. As a percentage of restaurant sales, food and beverage costs increased to 29.3% in the second quarter of fiscal 2010 from 28.7% in the second quarter of fiscal 2009. This increase in food and beverage costs as a percentage of restaurant sales was primarily due to unfavorable beef costs.
Restaurant Operating Expenses. Restaurant operating expenses increased $1.3 million, or 3.0%, to $44.8 million in the second quarter of fiscal 2010 from $43.5 million in the second quarter of fiscal 2009. Restaurant operating expenses, as a percentage of restaurant sales, increased to 53.4% in the second quarter of fiscal 2010 from 53.2% in the second quarter of fiscal 2009 primarily due to increased labor related expenses.
Marketing and Advertising. Marketing and advertising expenses decreased $1.2 million, or 29.0%, to $2.9 million in the second quarter of fiscal 2010 from $4.1 million in the second quarter of fiscal 2009. As a percentage of total revenues, marketing and advertising decreased to 3.3% in the second quarter of fiscal 2010 from 4.7% in the second quarter of fiscal 2009 due to a reduced level of national radio and regional television advertising.
General and Administrative. General and administrative costs decreased $0.2 million, or 3.6%, to $5.4 million in the second quarter of fiscal 2010 from $5.6 million in the second quarter of fiscal 2009. General and administrative costs as a percentage of total revenues decreased to 6.0% in the second quarter of fiscal 2010 from 6.4% in the second quarter of fiscal 2009.
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Ruth's Chris Steak House Inc. has a market cap of $131.8 million; its shares were traded at around $3.84 with a P/E ratio of 9.8 and P/S ratio of 0.4. RUTH is in the portfolios of Michael Price of MFP Investors LLC.
Highlight of Business Operations:
Restaurant Sales. Restaurant sales increased $2.1 million, or 2.6%, to $83.8 million in the second quarter of fiscal 2010 from $81.7 million in the second quarter of fiscal 2009. Company-owned comparable restaurant sales for Ruths Chris Steak House increased 2.9%. This increase was primarily due to an entrée increase of 3.2% and a decrease in average check of 0.3%. Company-owned comparable restaurant sales for Mitchells Fish Market increased 0.9%, which consisted of an entrée increase of 0.9%.Franchise Income. Franchise income increased $0.3 million, or 13.5%, to $2.8 million in the second quarter of fiscal 2010 from $2.5 million in the second quarter of fiscal 2009. The increase was driven primarily by an increase in comparable franchise-owned restaurant sales of 6.1%
Food and Beverage Costs. Food and beverage costs increased $1.1 million, or 4.6%, to $24.6 million in the second quarter of fiscal 2010 from $23.5 million in the second quarter of fiscal 2009. As a percentage of restaurant sales, food and beverage costs increased to 29.3% in the second quarter of fiscal 2010 from 28.7% in the second quarter of fiscal 2009. This increase in food and beverage costs as a percentage of restaurant sales was primarily due to unfavorable beef costs.
Restaurant Operating Expenses. Restaurant operating expenses increased $1.3 million, or 3.0%, to $44.8 million in the second quarter of fiscal 2010 from $43.5 million in the second quarter of fiscal 2009. Restaurant operating expenses, as a percentage of restaurant sales, increased to 53.4% in the second quarter of fiscal 2010 from 53.2% in the second quarter of fiscal 2009 primarily due to increased labor related expenses.
Marketing and Advertising. Marketing and advertising expenses decreased $1.2 million, or 29.0%, to $2.9 million in the second quarter of fiscal 2010 from $4.1 million in the second quarter of fiscal 2009. As a percentage of total revenues, marketing and advertising decreased to 3.3% in the second quarter of fiscal 2010 from 4.7% in the second quarter of fiscal 2009 due to a reduced level of national radio and regional television advertising.
General and Administrative. General and administrative costs decreased $0.2 million, or 3.6%, to $5.4 million in the second quarter of fiscal 2010 from $5.6 million in the second quarter of fiscal 2009. General and administrative costs as a percentage of total revenues decreased to 6.0% in the second quarter of fiscal 2010 from 6.4% in the second quarter of fiscal 2009.
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