MLQ.ai | Stocks

Ruth's Hospitality Group (RUTH) News

Price: $21.49
Market Cap: $690.54M
Avg Volume: 1.11M

Country: US
Industry: Restaurants
Sector: Consumer Cyclical

Beta: 1.83
52W Range: $14.65-21.5
Website: Ruth's Hospitality Group

Related Tools

🗞️ Stock News Assistant

Get concise summaries, analyze trends, and ask questions about stock-related news.

Use Tool

✍️ AI Journalist

Input a topic and GPT will search the web, find relevants articles, and write an article based on the research.

Use Tool

RUTH'S HOSPITALITY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Ruth's Hospitality Group, Inc. - RUTH

businesswire.com

RUTH’S HOSPITALITY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Ruth’s Hospitality Group, Inc. - RUTH

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Ruth’s Hospitality Group, Inc. (NasdaqGS: RUTH) to Darden Restaurants, Inc. (NYSE: DRI). Under the terms of the proposed transaction, shareholders of Ruth’s will receive $21.50 in cash for each share of Ruth’s that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqgs-ruth/ to learn more. Please note that the merger is structured as a tender offer, such that time may be of the essence. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

businesswire.com

SHAREHOLDER ALERT: Weiss Law Investigates Ruth's Hospitality Group, Inc.

NEW YORK , May 4, 2023 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Ruth's Hospitality Group, Inc. (NASDAQ: RUTH), in connection with its acquisition via tender offer by Darden Restaurants, Inc. (NASDAQ: DRI). Under the merger agreement, RUTH shareholders will receive $21.50 cash per share.

prnewswire.com

Darden Restaurants and Ruth's Hospitality Group Provide Updated Call Information for Thursday, May 4, 2023 Conference Call

ORLANDO, Fla., May 3, 2023 /PRNewswire/ -- Darden Restaurants, Inc. ("Darden") (NYSE:DRI) and Ruth's Hospitality Group, Inc. ("Ruth's") (Nasdaq:RUTH) announced earlier today that they have entered into a definitive merger agreement pursuant to which Darden will commence a tender offer to acquire all of the outstanding shares of Ruth's for $21.50 per share, in an all-cash transaction with an equity value of approximately $715 million.

prnewswire.com

Ruth's Hospitality Stock Soared Today on Darden Restaurants Buyout Deal

Ruth's Hospitality stock is now trading within 1% of Darden's all-cash offer, which has already been approved by both companies' boards. Darden management will host a conference call for shareholders Thursday to elaborate on why it wants to acquire Ruth's Hospitality.

fool.com

All Eyes on Fed Rate Decision: Key Stocks to Watch

The Federal Open Market Committee (FOMC) is widely expected to pull the trigger on another 25-basis point (0.25%) rate hike today. But given three of the largest U.S. bank failures in recent months, will the Fed stay the course?

zacks.com

Shareholder Alert: Ademi LLP investigates whether Ruth's Hospitality Group, Inc. has obtained a Fair Price in its transaction with Darden

MILWAUKEE , May 3, 2023 /PRNewswire/ -- Ademi LLP is investigating Ruth's (NASDAQ: RUTH) for possible breaches of fiduciary duty and other violations of law in its transaction with Darden. Click here to learn how to join the action https://www.ademilaw.com/case/ruths-hospitality-group-inc or call Guri Ademi toll-free at 866-264-3995.

prnewswire.com

RUTH Stock Alert: The $715 Million Reason Ruth's Hospitality Group Is Up Today

Ruth's Hospitality Group (NASDAQ: RUTH ) stock is taking off on Wednesday following news that Darden Restaurants (NYSE: DRI ) is acquiring the company. Darden Restaurants will pay a total of $715 million to acquire Ruth's Hospitality Group.

investorplace.com

RUTH Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Ruth's Hospitality Group, Inc. Is Fair to Shareholders

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Ruth's Hospitality Group, Inc. (NASDAQ: RUTH) to Darden Restaurants, Inc. for $21.50 per share in cash is fair to Ruth's Hospitality shareholders. Halper Sadeh encourages Ruth's Hospitality shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The inv.

businesswire.com

RUTH Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Ruth’s Hospitality Group, Inc. Is Fair to Shareholders

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Ruth’s Hospitality Group, Inc. (NASDAQ: RUTH) to Darden Restaurants, Inc. for $21.50 per share in cash is fair to Ruth’s Hospitality shareholders. Halper Sadeh encourages Ruth’s Hospitality shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The investigation concerns whether Ruth’s Hospitality and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Ruth’s Hospitality shareholders; (2) determine whether Darden is underpaying for Ruth’s Hospitality; and (3) disclose all material information necessary for Ruth’s Hospitality shareholders to adequately assess and value the merger consideration. On behalf of Ruth’s Hospitality shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. Halper Sadeh encourages Ruth’s Hospitality shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

businesswire.com

Darden Restaurants to Acquire Ruth's Hospitality Group in $715 Million Transaction

ORLANDO, Fla. , May 3, 2023 /PRNewswire/ -- Darden Restaurants, Inc. ("Darden") (NYSE:DRI) and Ruth's Hospitality Group, Inc. ("Ruth's") (Nasdaq: RUTH), jointly announced today that they have entered into a definitive merger agreement pursuant to which Darden will commence a tender offer to acquire all of the outstanding shares of Ruth's for $21.50 per share, in an all-cash transaction with an equity value of approximately $715 million.

prnewswire.com

Long Chicken Wing Shops, Short Steakhouses: How Commodities Prices Affect Restaurant Stocks

Restaurants are well known for being challenging businesses to run with a high rate of failure. But when done right they can be stellar businesses.

zacks.com

Has Ruth's Hospitality Group (RUTH) Outpaced Other Retail-Wholesale Stocks This Year?

Here is how Ruth's Hospitality (RUTH) and Ulta Beauty (ULTA) have performed compared to their sector so far this year.

zacks.com

Ruth’s Hospitality Group, Inc. to Announce First Quarter 2023 Financial Results on May 5, 2023

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that it will host a conference call to discuss first quarter 2023 financial results on Friday, May 5, 2023 at 8:30 AM Eastern Time. A press release with first quarter 2023 financial results will be issued at approximately 7:00 AM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13734967. The replay will be available until Friday, May 12, 2023. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with more than 150 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

These Inflation-Resistant Restaurant Stocks Have Yield and Value

Restaurant stocks across the spectrum defy inflation and darkening economic clouds to produce results and deliver value for shareholders, offering value and high yield. Among them are Texas Roadhouse Inc. (NYSE: TXRH), Darden Restaurants Inc. (NYSE: DRI), Ruth's Hospitality Group Inc. (NASDAQ: RUTH) and Bloomin' Brands Inc. (NASDAQ: BLMN), which have all reported solid quarters and given positive guidance for the year.

marketbeat.com

Ruth’s Chris Steak House Now Open in Reston

RESTON, Va.--(BUSINESS WIRE)--Ruth’s Chris Steak House, famous for its unmatched dining experience and steaks served on 500-degree sizzling plates, today announced its newest location is open for business in Reston, Virginia. The Reston Ruth’s Chris restaurant, located at 11990 Market Street, brings an unmatched dining experience to the area with its 7,400+-square-foot location. The new space features two main dining rooms, a luxurious bar and bar-lounge, patio with ample seating, as well as two private dining rooms that can accommodate personal and family celebrations, business meetings and more. The space is elegantly appointed and thoughtfully designed to provide a pleasurable and comfortable dining experience for every guest. “We’ve had the pleasure of serving the Fairfax County community for many years, and are fortunate to make our one-of-a-kind experience available to even more guests in the area,” said Sierra Krynitsky, general manager for Ruth’s Chris in Reston. “Ruth’s Chris offers its guests an exclusive dining experience – whether they’re celebrating a special occasion or enjoying an intimate dinner – no matter the size, we look forward to welcoming guests into our restaurant and showcasing the same top-notch service they’re accustomed to from our brand.” With more than 150 restaurants around the globe, Ruth’s Chris has been in business since 1965. As part of the pre-opening celebration for its newest restaurant, Ruth’s Chris hosted a special dinner with community leaders, business owners and Ruth’s Chris executives with 100% of the proceeds from which were donated to Capital Area Food Bank. “The Reston location is our third in the area, representing an exciting expansion in the region that further entrenches us in Fairfax County’s fine dining scene,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. “We’re thrilled to continue to serve this community and look forward to more opportunities for expansion in the future.” At Ruth's Chris, the last bite is just as good as the first. The company’s perfected broiling method and seasoning techniques ensure each cut of USDA Prime beef arrives cooked to perfection and sizzling on a 500-degree plate – just the way Ruth’s Chris founder Ruth Fertel liked it. Representing the highest-quality beef, these cuts are well marbled and hand-selected for thickness and tenderness. Ruth only served her guests the finest, and that’s why Ruth’s Chris serves custom-aged USDA Prime beef. While Ruth’s Chris’ USDA Prime steaks and their signature sizzle may have put the restaurant on the map, guests can also enjoy fresh seafood, scratch-made side dishes and desserts, craft cocktails and choice wines, all served with the sort of hospitality that would make its namesake proud. Ruth’s Chris Reston also offers its unbeatable Sizzle, Swizzle, Swirl Happy Hour, which includes mouthwatering food and full-size appetizers starting at $11, as well as hand-crafted cocktails and wine starting at only $9 from 4:00p.m. – 6:00p.m. every Sunday through Friday. For more information and hours of operation, or to make a reservation, please visit RuthsChris.com/restaurant-locations/reston/ or call (571) 749-9537. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel 57 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling steaks to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how it’s done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

The 7 Worst Stocks to Buy if We Enter a New Bear Market Soon

With the banking sector fallout in the U.S. sparking jitters abroad, investors may want to consider identifying the potentially worst stocks for a bear market. To be 100% clear, I'm not advocating that you should sell any of the below equities right now.

investorplace.com

Best Value Stocks to Buy for February 28th

BABA, IPG and RUTH made it to the Zacks Rank #1 (Strong Buy) value stocks list on February 28, 2023.

zacks.com

Best Income Stocks to Buy for February 28th

FTAI, IPG and RUTH made it to the Zacks Rank #1 (Strong Buy) income stocks list on February 28, 2023.

zacks.com

Ruth's Hospitality Group: A Tasty Small Cap For Income

Ruth's Hospitality Group (NASDAQ: RUTH) offers investors more opportunities than 1. On top of the recovery and growth story, there is the stock's valuation.

marketbeat.com

Ruth's Hospitality Group, Inc. (RUTH) Q4 2022 Earnings Call Transcript

Ruth's Hospitality Group, Inc. (NASDAQ:RUTH ) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET Company Participants Mike Hynes - Vice President-Finance & Accounting Cheryl Henry - President, Chief Executive Officer & Chairwoman Kristy Chipman - Chief Financial Officer & Chief Operating Officer Conference Call Participants Brian Vaccaro - Raymond James Todd Brooks - The Benchmark Company Andy Barish - Jefferies Operator Good morning, ladies and gentlemen. Welcome to today's Ruth's Hospitality Group Fourth Quarter 2022 Earnings Conference Call.

seekingalpha.com

Ruth's Hospitality (RUTH) Beats Q4 Earnings and Revenue Estimates

Ruth's Hospitality (RUTH) delivered earnings and revenue surprises of 18.75% and 1.62%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

zacks.com

Ruth's Hospitality Group, Inc. Reports Fourth Quarter 2022 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported financial results for its fourth quarter and fiscal year ended December 25, 2022 and provided a business update. Fourth Quarter Highlights Total restaurant sales in the fourth quarter increased 9.6% compared to 2021 driven by comparable sales growth of 4.5% and incremental sales from six new restaurants that opened over the last 12 months. Comparable sales increased 5.

businesswire.com

Ruth’s Hospitality Group, Inc. Reports Fourth Quarter 2022 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported financial results for its fourth quarter and fiscal year ended December 25, 2022 and provided a business update. Fourth Quarter Highlights Total restaurant sales in the fourth quarter increased 9.6% compared to 2021 driven by comparable sales growth of 4.5% and incremental sales from six new restaurants that opened over the last 12 months. Comparable sales increased 5.5% compared to 2019. Fourth quarter average weekly sales for Company-owned restaurants were $130.0 thousand in 2022 compared to $123.0 thousand in 2021. Franchise income in the fourth quarter of 2022 was $5.8 million compared to $5.5 million in the fourth quarter of 2021. Fourth quarter 2022 comparable restaurant sales at franchisee-owned restaurants increased 2.8% compared to 2021. Food and beverage costs, as a percentage of restaurant sales, decreased 93 basis points to 33.2% compared to the fourth quarter of 2021. Total beef costs decreased 4% compared to the fourth quarter of 2021. Net income in the fourth quarter of 2022 was $12.4 million, or $0.38 per diluted share, compared to net income of $13.8 million, or $0.40 per diluted share, in the fourth quarter of 2021. Adjusted earnings per share(1) increased 13.1% to $0.38 in the fourth quarter of 2022, compared to adjusted earnings per share(1) of $0.34 in the fourth quarter of 2021. Adjusted EBITDA(1) increased 12.2% to $24 million in the fourth quarter of 2022, compared to adjusted EBITDA(1) of $21.4 million in the fourth quarter of 2021. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of Ruth’s Hospitality Group, Inc., commented, “Our fourth quarter performance marked the end to another impressive year for our team at Ruth’s Chris Steak House as we generated double-digit top-line growth and strong earnings for the year. Combined with debt reduction and returning excess capital to shareholders through dividends and share repurchases, we believe we delivered on our total return strategy on all fronts and have given ourselves a solid foundation to build on for the future.” Henry added, “As we look to 2023, I am excited about our opportunities to grow and evolve our 57-year-old iconic brand. We have a promising restaurant pipeline; the launch of Phase 2 of our Data Digital Transformation is expected to drive the next evolution of the brand; and our capital position remains strong. Together with our veteran operators and franchise partners, we believe we are well-positioned to continue to elevate our business in the years to come.” Fiscal Year 2022 Highlights Restaurant sales in 2022 were $475.4 million compared to $402.0 million in 2021. Comparable restaurant sales increased 13.8% in 2022 compared to 2021 and 10.6% compared to 2019. Average weekly sales for Company-owned restaurants in 2022 were $121.9 thousand compared to $105.5 thousand in 2021. Comparable restaurant sales increased 13.8% in 2022 compared to 2021 and 10.6% compared to 2019. Average weekly sales for Company-owned restaurants in 2022 were $121.9 thousand compared to $105.5 thousand in 2021. Franchise income in 2022 was $20.6 million compared to $18.5 million in 2021. Comparable restaurant sales at franchisee-owned restaurants in 2022 increased 10.5% compared to 2021. Food and beverage costs, as a percentage of restaurant sales, decreased 13 basis points in 2022 to 31.8% compared to 2021. Total beef costs decreased approximately 1% compared to 2021. Net income in 2022 was $38.6 million, or $1.15 per diluted share, compared to net income of $42.3 million, or $1.23 per diluted share, in 2021. Adjusted earnings per share(1) increased 10.6% to $1.29 in 2022, compared to adjusted earnings per share(1) of $1.17 in 2021. Adjusted EBITDA(1) increased 7.2% to $83.8 million in 2022, compared to adjusted EBITDA(1) of $78.2 million in 2021. (1) Non-GAAP Financial Measure. Please refer to the Reconciliation of Non-GAAP Financial Measures, adjusted earnings per share and adjusted EBITDA, included in the following tables. The Company believes that adjusted earnings per share and adjusted EBITDA provide useful alternative measures of financial performance to enhance investors’ ability to compare period-to-period financial results. Business and Development Update The Company relocated a Company-owned restaurant in Winter Park, FL in October 2022. Quarterly Cash Dividend The Company’s Board of Directors declared a quarterly dividend of $0.16 per share payable on March 24, 2023 to shareholders of record as of the close of business on March 10, 2023. Share Repurchase Program In 2022, the Company repurchased approximately 1.7 million of its shares for $29.6 million, at an average price of $17.03 per share. Financial Outlook Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its outlook for the following 2023 operating measures: Fiscal year 2023 has 53 weeks Fiscal year 2023 marketing expense is expected to be between $15 and $17 million Fiscal year 2023 general and administrative expenses are expected to be between $39 and $42 million Fiscal year 2023 income tax rate is expected to be between 17% and 19% Fiscal year 2023 capital expenditures are expected to be between $45 to $50 million The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to the “Cautionary Note Regarding Forward-Looking Statements” section in this earnings press release and to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition. Conference Call The Company will host a conference call to discuss fourth quarter and fiscal year 2022 financial results today at 8:30 AM Eastern Time. Hosting the call will be Cheryl J. Henry, President, Chief Executive Officer and Chairperson of the Board, and Kristy Chipman, Chief Financial Officer and Chief Operating Officer. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13734965. The replay will be available until Thursday, March 2, 2023. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group, Inc. Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with more than 150 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements”, as defined in the Private Securities Litigation Reform Act of 1995 that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties. Forward-looking statements frequently are identified by the words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “intend,” “likely result,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek”, “should,” “target,” “will be,” “will continue,” “will likely result,” “would” and other similar words and phrases. Similarly, statements herein that describe the Company’s objectives, plans or goals, including with respect to restaurant closures and re-openings, new restaurant openings and acquisitions or closures, capital expenditures, strategy, financial outlook, liquidity outlook, our effective tax rate, and the impact of inflation and recent accounting pronouncements, also are forward-looking statements. Actual results could differ materially from those projected, implied or anticipated by the Company’s forward-looking statements. Some of the factors that could cause actual results to differ include: the negative impact the COVID-19 pandemic has had and may continue to have on our business, financial condition, results of operations and cash flows; reductions in the availability of, or increases in the cost of, USDA Prime grade beef, fish and other food items; changes in economic conditions, including inflation, increasing interest rates, higher unemployment, slowing growth or recession, reductions in consumer discretionary income, and general trends; the loss of key management personnel; the effect of market volatility on the Company’s stock price; health concerns about beef or other food products; the effect of competition in the restaurant industry; changes in consumer preferences or discretionary spending or our ability to pass along rising costs through selling prices; labor shortages or increases in labor costs; the impact of federal, state or local government regulations relating to income taxes, unclaimed property, Company employees, the sale or preparation of food, the sale of alcoholic beverages and the opening of new restaurants; political conditions, civil unrest or other developments and risks in the markets where the Company’s restaurants are located; harmful actions taken by the Company’s franchisees; the inability to successfully integrate franchisee acquisitions into the Company’s business operations; economic, regulatory and other limitations on the Company’s ability to pursue new restaurant openings and other organic growth opportunities; a failure, interruption or security breach of the Company’s information technology network; the Company’s indemnification obligations in connection with its sale of the Mitchell’s Restaurants; the Company’s ability to protect its name and logo and other proprietary information; an impairment in the financial statement carrying value of our goodwill, other intangible assets or property; gains or losses on lease modifications; the impact of litigation; the restrictions imposed by the Company’s credit agreement; changes in, or the suspension or discontinuation of, the Company’s quarterly cash dividend payments or share repurchase program; and the inability to secure additional financing on terms acceptable to the Company. For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2021, and the Company’s other filings with the Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 10-K for the fiscal year ended December 25, 2022 expected to be filed on or about February 23, 2023. Such filings are available on the SEC’s website at www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. You should not assume that material events subsequent to the date of this press release have not occurred. Unless the context otherwise indicates, all references in this report to the “Company,” “Ruth’s,” “we,” “us”, “our” or similar words are to Ruth’s Hospitality Group, Inc. and its subsidiaries. Ruth’s Hospitality Group, Inc. is a Delaware corporation formerly known as Ruth’s Chris Steak House, Inc., and was founded in 1965. 2022 2021 2022 2021 $ 130,107 $ 118,677 $ 475,371 $ 402,015 5,805 5,471 20,571 18,533 2,428 2,595 9,916 8,575 138,340 126,743 505,858 429,123 43,211 40,521 151,290 128,450 59,388 50,658 221,352 179,671 4,278 5,803 17,360 13,464 9,132 8,840 37,071 32,531 6,641 5,355 22,103 20,487 340 709 3,058 1,894 - - 6,000 - 90 1,058 90 1,058 574 1,461 574 1,854 123,654 114,405 458,898 379,409 14,686 12,338 46,960 49,714 (509 ) (368 ) (1,507 ) (3,478 ) 62 39 178 102 14,239 12,009 45,631 46,338 1,864 (1,791 ) 7,010 4,063 $ 12,375 $ 13,800 $ 38,621 $ 42,275 $ 0.38 $ 0.41 $ 1.16 $ 1.23 $ 0.38 $ 0.40 $ 1.15 $ 1.23 32,557,924 33,921,311 33,203,263 34,255,966 32,896,269 34,081,852 33,495,888 34,468,198 $ 0.14 $ — $ 0.54 $ — 2022 2021 2022 2021 $ 12,375 $ 13,800 $ 38,621 $ 42,275 1,864 (1,791 ) 7,010 4,063 14,239 12,009 45,631 46,338 - - - (381 ) - - - 445 - - 6,000 - 90 1,058 90 1,058 574 1,461 574 1,854 14,903 14,528 52,295 49,314 (2,030 ) 1,161 (8,676 ) (4,807 ) (259 ) (4,129 ) (393 ) (4,274 ) $ 12,614 $ 11,560 $ 43,226 $ 40,233 $ 0.38 $ 0.40 $ 1.15 $ 1.23 $ 0.38 $ 0.34 $ 1.29 $ 1.17 32,896,269 34,081,852 33,495,888 34,468,198 2022 2021 2022 2021 $ 12,375 $ 13,800 $ 38,621 $ 42,275 509 368 1,507 3,478 1,864 (1,791 ) 7,010 4,063 6,641 5,355 22,103 20,487 $ 21,389 $ 17,732 $ 69,241 $ 70,303 - - - (381 ) - - - 445 - - 6,000 - 90 1,058 90 1,058 574 1,461 574 1,854 1,925 1,111 7,872 4,888 $ 23,978 $ 21,362 $ 83,777 $ 78,167

businesswire.com

7 Stocks That Could Take a Hit as Consumers Curtail Spending

Though the Federal Reserve's aggressive actions against skyrocketing inflation delivered results, it may not be enough to spare all companies in the consumer discretionary space. Thus necessitating a discussion about stocks to sell.

investorplace.com

Ruth’s Hospitality Group, Inc. to Announce Fourth Quarter and Full Year 2022 Financial Results on February 23, 2023

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that it will host a conference call to discuss fourth quarter and full year 2022 financial results on Thursday, February 23, 2023 at 8:30 AM Eastern Time. A press release with fourth quarter and full year 2022 financial results will be issued at approximately 7:00 AM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13734965. The replay will be available until Thursday, March 2, 2023. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with more than 150 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

Ruth's Hospitality Group: Upside Is Still On The Table

Ruth's Hospitality Group continues to report climbing sales, but profits and cash flows have been mixed lately. This has been instrumental in pushing shares down more than what the market has seen, but this doesn't mean investors should stay away.

seekingalpha.com

New Strong Sell Stocks for November 25th

FNF, PCB and RUTH have been added to the Zacks Rank #5 (Strong Sell) List on November 25, 2022.

zacks.com

Why Ruth's Hospitality Group Was Down Today

An analyst downgrade pushed the stock lower.

fool.com

Ruth's Hospitality Group, Inc. (RUTH) Q3 2022 Earnings Call Transcript

Ruth's Hospitality Group, Inc. (NASDAQ:RUTH ) Q3 2022 Earnings Conference Call November 4, 2022 8:30 AM ET Company Participants Mike Hynes - Vice President-Finance & Accounting Cheryl Henry - President, Chief Executive Officer & Chairperson Kristy Chipman - Chief Financial Officer & Chief Operating Officer Conference Call Participants Joshua Long - Stephens Brian Vaccaro - Raymond James Todd Brooks - The Benchmark Company Operator Good morning, ladies and gentlemen. Welcome to today's the Ruth's Hospitality Group, Third Quarter 2022 Earnings Conference Call.

seekingalpha.com

Ruth's Hospitality (RUTH) Q3 Earnings Lag Estimates

Ruth's Hospitality (RUTH) delivered earnings and revenue surprises of -11.11% and 1.29%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

zacks.com

Ruth's Hospitality Group, Inc. Reports Third Quarter 2022 Financial Results

WINTER PARK, Fla.

businesswire.com

Ruth’s Hospitality Group, Inc. Reports Third Quarter 2022 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its third quarter ended September 25, 2022 and provided a business update. Third Quarter Highlights (1) Total restaurant sales in the third quarter increased 8.5% compared to 2021 driven by comparable sales growth and incremental sales from six new restaurants that opened over the last 12 months. Third quarter comparable sales increased 2.9% versus 2021 and 11.2% versus 2019. Third quarter average weekly sales were $107.5 thousand in 2022 compared to $102.8 thousand in 2021 and $93.4 thousand in 2019. (2) Third quarter comparable sales increased 2.9% versus 2021 and 11.2% versus 2019. Third quarter average weekly sales were $107.5 thousand in 2022 compared to $102.8 thousand in 2021 and $93.4 thousand in 2019. (2) Franchise income in the third quarter of 2022 was $4.9 million compared to $4.7 million in the third quarter of 2021. Third quarter 2022 comparable restaurant sales at franchisee-owned restaurants increased 4.1% compared to 2021. Food and beverage costs, as a percentage of restaurant sales, decreased 257 basis points to 31.7% compared to the third quarter of 2021. Total beef costs decreased 14% compared to the third quarter of 2021. Net income in the third quarter of 2022 was $5.5 million, or $0.16 per diluted share, compared to net income of $6.9 million, or $0.20 per diluted share, in the third quarter of 2021. - Net income in the third quarter of 2022 included a $270 thousand income tax benefit related to the impact of discrete income tax items. Net income in the third quarter of 2021 included a $16 thousand employee retention payroll tax credit, which reduced restaurant operating expenses, and a $29 thousand income tax expense related to the impact of discrete income tax items. - Excluding these items, non-GAAP adjusted earnings per common share was $0.16 in the third quarter of 2022, compared to a non-GAAP adjusted earnings per common share of $0.20 in the third quarter of 2021. The Company believes that non-GAAP adjusted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. (1) In order to assist with the review of our quarterly and annual results, we have provided an additional comparison to the same period in 2019 for some of our financial measures. (2) Average Weekly Sales is an average of restaurant sales for all Company-owned restaurants. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of the Company commented, “Our solid third quarter performance is a direct testament to the hard work and dedication of our team members, supported by early benefits from our digital transformation.” Henry added, “We believe the demand for the Ruth’s Chris experience remains strong, as exhibited by our three successful new restaurant openings in the quarter. Looking to the future, our capital position is secure and we remain committed to investing in the long-term growth of the business.” Business and Development Update The Company opened three new Company-owned restaurants during the third quarter in Worcester, MA, Long Beach, CA and Melville, NY. The Company recently signed a lease for a new restaurant in Jupiter, FL and currently expects to open at least five Company-owned or managed restaurants in 2023. Quarterly Cash Dividend The Company’s Board of Directors declared a quarterly dividend of $0.14 per share payable on December 2, 2022 to shareholders of record as of the close of business on November 18, 2022. Share Repurchase Program Year to date through October 31, 2022, the Company has repurchased approximately 1.1 million of its shares for $19.6 million, at an average price of $17.61 per share. Financial Outlook Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its updated outlook for the following 2022 operating measures: Fiscal year 2022 restaurant labor expense improvement of approximately 200 basis points (as a percentage of restaurants sales) compared to 2019 Fiscal year 2022 marketing and advertising expenses are expected to be between $17 and $18 million Fiscal year 2022 general and administrative costs are expected to be between $37 and $38 million Effective income tax rate of 16% to 17% Fiscal year 2022 capital expenditures of $45 to $48 million The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to the “Cautionary Note Regarding Forward-Looking Statements” section in this earnings press release and to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition. Conference Call The Company will host a conference call to discuss third quarter 2022 financial results today at 8:30 AM Eastern Time. Hosting the call will be Cheryl J. Henry, President, Chief Executive Officer and Chairperson of the Board, and Kristy Chipman, Chief Financial Officer and Chief Operating Officer. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13732782. The replay will be available until Friday, November 11, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group, Inc. Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with more than 150 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties. Forward-looking statements frequently are identified by the words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “intend,” “likely result,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “would” and other similar words and phrases. Similarly, statements herein that describe the Company’s objectives, plans or goals, including with respect to restaurant closures and re-openings, new restaurant openings and acquisitions or closures, capital expenditures, strategy, financial outlook, liquidity outlook, our effective tax rate, and the impact of healthcare inflation and recent accounting pronouncements, also are forward-looking statements. Actual results could differ materially from those projected, implied or anticipated by the Company’s forward-looking statements. Some of the factors that could cause actual results to differ include: the negative impact the COVID-19 pandemic has had and will continue to have on our business, financial condition and results of operations; reductions in the availability of, or increases in the cost of, USDA Prime grade beef, fish and other food items; impacts from the conflict in Ukraine, including potential supply disruptions; changes in economic conditions, including inflationary concerns, interest rate increases and general trends; the loss of key management personnel; the effect of market volatility on the Company’s stock price; health concerns about beef or other food products; the effect of competition in the restaurant industry; changes in consumer preferences or discretionary spending; labor shortages or increases in labor costs; the impact of federal, state or local government regulations relating to income taxes, unclaimed property, Company employees, the sale or preparation of food, the sale of alcoholic beverages and the opening of new restaurants; political conditions, civil unrest or other developments and risks in the markets where the Company’s restaurants are located; harmful actions taken by the Company’s franchisees; the inability to successfully integrate franchisee acquisitions into the Company’s business operations; economic, regulatory and other limitations on the Company’s ability to pursue new restaurant openings and other organic growth opportunities; a material failure, interruption or security breach of the Company’s information technology network; the Company’s indemnification obligations in connection with its sale of the Mitchell’s Restaurants; the Company’s ability to protect its name and logo and other proprietary information; an impairment in the financial statement carrying value of our goodwill, other intangible assets or property; gains or losses on lease modifications; the impact of litigation; the restrictions imposed by the Company’s credit agreement; changes in, or the suspension or discontinuation of, the Company’s quarterly cash dividend payments or share repurchase program; and the inability to secure additional financing on terms acceptable to the Company. For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2021, and the Company’s other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. You should not assume that material events subsequent to the date of this press release have not occurred. Unless the context otherwise indicates, all references in this report to the “Company,” “Ruth’s,” “we,” “us”, “our” or similar words are to Ruth’s Hospitality Group, Inc. and its subsidiaries. Ruth’s Hospitality Group, Inc. is a Delaware corporation formerly known as Ruth’s Chris Steak House, Inc., and was founded in 1965. 2022 2021 2022 2021 $ 105,792 $ 97,537 $ 345,264 $ 283,339 4,906 4,742 14,766 13,062 2,041 1,908 7,488 5,980 112,739 104,187 367,518 302,381 33,505 33,401 108,079 87,929 53,084 46,030 161,964 129,013 3,419 2,436 13,082 7,661 9,372 7,721 27,939 23,691 5,535 4,985 15,462 15,131 1,093 581 2,718 1,185 — — 6,000 — — — — 394 106,008 95,154 335,244 265,004 6,731 9,033 32,274 37,377 (434 ) (678 ) (998 ) (3,109 ) 53 (18 ) 116 61 6,350 8,337 31,392 34,329 852 1,398 5,146 5,854 $ 5,498 $ 6,939 $ 26,246 $ 28,475 $ 0.17 $ 0.20 $ 0.79 $ 0.83 $ 0.16 $ 0.20 $ 0.78 $ 0.82 33,135,562 34,421,570 33,418,376 34,367,518 33,459,508 34,592,930 33,729,577 34,606,611 $ 0.14 $ — $ 0.40 $ — 2022 2021 2022 2021 $ 5,498 $ 6,939 $ 26,246 $ 28,475 852 1,398 5,146 5,854 6,350 8,337 31,392 34,329 — (16 ) — (381 ) — — — 445 — — 6,000 — — — — 394 6,350 8,321 37,392 34,787 (852 ) (1,394 ) (6,646 ) (5,969 ) (270 ) 29 (274 ) (145 ) $ 5,228 $ 6,956 $ 30,472 $ 28,673 $ 0.16 $ 0.20 $ 0.78 $ 0.82 $ 0.16 $ 0.20 $ 0.90 $ 0.83 33,459,508 34,592,930 33,729,577 34,606,611

businesswire.com

Ruth’s Chris Steak House Opens in Winter Park, Florida

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Chris Steak House, famous for its unmatched dining experience and steaks served on 500-degree sizzling plates, announced the relocation of its Winter Park restaurant, which is now open for business. The new Ruth’s Chris restaurant is located at 480 N. Orlando Avenue (Suite 100), bringing an unmatched dining experience to the area in its new 7,840-square-foot restaurant. The new space features one main dining room, a luxurious bar with ample seating and a variety of high tops, a spacious outdoor patio and two private dining rooms that can accommodate personal and family celebrations, business meetings and much more. The space is elegantly appointed and thoughtfully designed to provide a pleasurable and comfortable dining experience for every guest. With over 150 restaurants, Ruth’s Chris has been in business for more than 57 years. As part of the pre-opening celebration for the latest location in Winter Park, Ruth’s Chris hosted a special dinner with community leaders, business owners and Ruth’s Chris executives to raise money for the Second Harvest Food Bank of Central Florida. “We’ve had the pleasure to serve the Orlando community for many years, and are fortunate to make available our one-of-a-kind experience to even more guests in the area,” said Mark Juster, general manager for Ruth’s Chris in Winter Park. “Ruth’s Chris offers its guests an exclusive dining experience – whether they’re celebrating a special occasion or enjoying an intimate dinner – no matter the size, we look forward to welcoming guests into our restaurant and showcasing the same top-notch service they’re accustomed to from the brand.” “The Winter Park relocation represents an exciting new chapter in the region that further entrenches us throughout the area’s fine dining scene,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. “We look forward to welcoming new guests, as well as those who are already familiar with and passionate about our brand.” At Ruth's Chris, the last bite is just as good as the first. The company’s perfected broiling method and seasoning techniques ensure each cut of USDA Prime beef arrives cooked to perfection and sizzling on a 500-degree plate – just the way Ruth’s Chris founder Ruth Fertel liked it. Representing the highest-quality beef, these cuts are well marbled and hand-selected for thickness and tenderness. Ruth only served her guests the finest, and that’s why Ruth’s Chris serves custom-aged USDA Prime beef. While Ruth’s Chris’ USDA Prime steaks and their signature sizzle may have put the restaurant on the map, guests can also enjoy quality seafood, scratch-made side dishes and desserts, craft cocktails and premium wines, served with the sort of hospitality that would make its namesake proud. Ruth’s Chris also offers its Sizzle, Swizzle, Swirl Happy Hour at the Winter Park location with mouthwatering food and full-size appetizers from 4:00p.m. – 6:00p.m. every Sunday through Friday. For more information and hours of operation, please visit https://www.ruthschris.com/restaurant-locations/north-orlando/ or call (407) 622-2444. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel 57 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling steaks to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how it’s done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

Forget Bargain Hunting: Play 5 Stocks With Rising P/E

Bet on these top-ranked stocks with rising P/E to realize outsized gains. Tap Eastside Distilling (EAST), Adial Pharmaceuticals (ADIL), The Buckle (BKE), Ruth's Hospitality Group (RUTH), Insight Enterprises (NSIT).

zacks.com

Ruth's Hospitality Group: Derisked Story With Steady Growth Potential

The company is the parent of Ruth's Chris Steakhouse. Given the business model, we anticipate steady but moderate growth.

seekingalpha.com

Ruth’s Hospitality Group, Inc. to Announce Third Quarter 2022 Financial Results on November 4, 2022

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that it will host a conference call to discuss third quarter 2022 financial results on Friday, November 4, 2022 at 8:30 AM Eastern Time. A press release with third quarter 2022 financial results will be issued at approximately 7:00 AM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13732782. The replay will be available until Friday, November 11, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with more than 150 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

If You're Hungry for Value, Take a Bite on Ruth's Hospitality Grp

Premium steak house operator Ruth's Hospitality Group (NASDAQ: RUTH) stock is performing slightly better than the benchmark indices down (-13%) on the year.

marketbeat.com

4 Dividend-Paying Restaurant Stocks to Shield Against Inflation

High inflation continues to hurt the restaurant industry. Stocks like MCD, YUM, JACK and RUTH, which pay dividends regularly, might fetch you promising returns.

zacks.com

Buy These 5 Restaurant Stocks to Enhance Your Portfolio

We have narrowed our search to five restaurant stocks that have strong growth potential for the rest of 2022. These are: PBPB, ARCO, CBRL, RUTH and FWRG.

zacks.com

7 Best Restaurant Stocks to Buy Now

Although the equities sector recently encountered significant challenges, investors may find long-term upside opportunities in the best restaurant stocks. Naturally, the concept presents a counterintuitive profile consider the rapid rise of inflation.

investorplace.com

Ruth's Hospitality Group: Another Solid Report In Q2

Ruth's Hospitality Group released its Q2 results last month, reporting a record second-quarter revenue figure of $128.7 million, driven by continued growth in system-wide sales. Meanwhile, margins performed quite well relative to the industry average, with Ruth's benefiting from beef deflation year-over-year, offsetting inflation in other areas of its market basket.

seekingalpha.com

Is Ruth's Hospitality Group (RUTH) a Great Value Stock Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

zacks.com

Ruth's Hospitality Group: Worth A Taste

Ruth's Hospitality Group has done well to grow its business over time, with revenue and cash flows rising. Shares look cheap compared to similar players and are even affordable on an absolute basis.

seekingalpha.com

4 Restaurant Stocks to Buy Amid Ongoing Challenges

The restaurant industry is facing inflationary pressures but sales are still rising, helping stocks like Arcos Dorados Holdings (ARCO), First Watch Restaurant Group (FWRG), Ruth's Hospitality Group (RUTH) and Potbelly Corporation (PBPB).

zacks.com

ETFs & Stocks to Win Despite a Stagnant July Retail Sales

Retail sales in the United States unexpectedly stalled in July of 2022, missing market expectations of a 0.1% increase.

zacks.com

Ruth’s Chris Steak House Opens New Location in Worcester, Massachusetts

WORCESTER, Mass.--(BUSINESS WIRE)--Ruth’s Chris Steak House, famous for its unmatched dining experience and steaks served on 500-degree sizzling plates, announced its newest location in Worcester, which is now open for business. The new Ruth’s Chris restaurant is located at 4 Mercantile Street and brings an unmatched dining experience to the area in its new 8,250-square-foot restaurant. The new space features three main dining rooms (one of which can serve as a private boardroom for business meetings), a luxurious bar with ample seating and a variety of high tops, a spacious outdoor patio and a private dining room that can accommodate any celebration. The space is elegantly appointed and thoughtfully designed to provide a pleasurable and comfortable dining experience for every guest. With over 150 restaurants, Ruth’s Chris has been in business for more than 57 years. As part of the pre-opening celebration for the newest location in Worcester, Ruth’s Chris hosted a special dinner with community leaders, business owners and Ruth’s Chris executives to raise money for the Worcester County Food Bank. “We are honored to bring this new Ruth’s Chris location to Worcester and serve the community and those that live in and around the area,” said Matt Williams, general manager for Ruth’s Chris in Worcester. “Ruth’s Chris offers its guests a one-of-a-kind experience – whether they’re celebrating a special occasion or enjoying an intimate dinner. We look forward to welcoming guests into our restaurant and showcasing the same top-notch service they’re accustomed to from the brand.” “This location is our first in Worcester, representing an exciting expansion in central Massachusetts that further entrenches us in the area’s fine dining scene,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. “We look forward to welcoming new guests, as well as those who are already familiar with and passionate about our brand.” At Ruth's Chris, the last bite is just as good as the first. The company’s perfected broiling method and seasoning techniques ensure each cut of USDA Prime beef arrives cooked to perfection and sizzling on a 500-degree plate – just the way Ruth’s Chris founder Ruth Fertel liked it. Representing the highest-quality beef, these cuts are well marbled and hand-selected for thickness and tenderness. Ruth only served her guests the finest, and that’s why Ruth’s Chris serves custom-aged USDA Prime beef. While Ruth’s Chris’ USDA Prime steaks and their signature sizzle may have put the restaurant on the map, guests can also enjoy fresh seafood, scratch-made side dishes and desserts, craft cocktails and choice wines, served with the sort of hospitality that would make its namesake proud. Ruth’s Chris also offers its Sizzle, Swizzle, Swirl Happy Hour at the Worcester location with mouthwatering food and full-size appetizers from 4:00p.m. – 6:00p.m. every Sunday through Friday. For more information and hours of operation, please visit RuthsChris.com/restaurant-locations/worcester/ or call (508) 492-0525. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel 57 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling steaks to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how it’s done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

Ruth’s Chris Steak House Opens New Location in Long Beach, California

LONG BEACH, Calif.--(BUSINESS WIRE)--Ruth’s Chris Steak House, famous for its unmatched dining experience and steaks served on 500-degree sizzling plates, announced its newest location in Long Beach, which is now open for business. The new Ruth’s Chris restaurant is located at 180 East Ocean Boulevard (Suite 160) and brings an unmatched dining experience to the area in its new 8,075-square-foot restaurant. The new space features three main dining rooms, a luxurious bar with ample seating and a variety of high tops, a spacious outdoor patio and two private dining rooms that can accommodate personal and family celebrations, business meetings and much more. The space is elegantly appointed and thoughtfully designed to provide a pleasurable and comfortable dining experience for every guest. With over 150 restaurants, Ruth’s Chris has been in business for more than 57 years. As part of the pre-opening celebration for the newest location in Long Beach, Ruth’s Chris hosted a special dinner with community leaders, business owners and Ruth’s Chris executives to raise money for the Los Angeles Regional Food Bank. “We are honored to bring this new Ruth’s Chris location to Long Beach and serve the community and those that live in and around the area,” said Wendi Thompson, general manager for Ruth’s Chris in Long Beach. “Ruth’s Chris offers its guests a one-of-a-kind experience – whether they’re celebrating a special occasion or enjoying an intimate dinner. We look forward to welcoming guests into our restaurant and showcasing the same top-notch service they’re accustomed to from the brand.” “This location is our first in Long Beach, representing an exciting expansion in Southern California that further entrenches us in the area’s fine dining scene,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. “We look forward to welcoming new guests, as well as those who are already familiar with and passionate about our brand.” At Ruth's Chris, the last bite is just as good as the first. The company’s perfected broiling method and seasoning techniques ensure each cut of USDA Prime beef arrives cooked to perfection and sizzling on a 500-degree plate – just the way Ruth’s Chris founder Ruth Fertel liked it. Representing the highest-quality beef, these cuts are well marbled and hand-selected for thickness and tenderness. Ruth only served her guests the finest, and that’s why Ruth’s Chris serves custom-aged USDA Prime beef. While Ruth’s Chris’ USDA Prime steaks and their signature sizzle may have put the restaurant on the map, guests can also enjoy fresh seafood, scratch-made side dishes and desserts, craft cocktails and choice wines, served with the sort of hospitality that would make its namesake proud. Ruth’s Chris also offers its Sizzle, Swizzle, Swirl Happy Hour at the Long Beach location with mouthwatering food and full-size appetizers from 4:00p.m. – 6:00p.m. every Sunday through Friday. For more information and hours of operation, please visit RuthsChris.com/restaurant-locations/long-beach/ or call (562) 966-6777. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel 57 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling steaks to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how it’s done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

Ruth’s Chris Steak House to Open New Location in Melville, New York, on August 15

MELVILLE, N.Y.--(BUSINESS WIRE)--Ruth’s Chris Steak House, famous for its unmatched dining experience and steaks served on 500-degree sizzling plates, announced today its newest location in Melville, which will open for business on August 15. The new Ruth’s Chris restaurant will be located at 881 Walt Whitman Road, bringing an unmatched dining experience to the area in its new 10,684-square-foot restaurant. The new space will feature a main dining room, a luxurious bar with ample seating and a variety of high tops as well as three private dining rooms that can accommodate personal and family celebrations, business meetings and much more. The space is elegantly appointed and thoughtfully designed to provide a pleasurable and comfortable dining experience for every guest. With over 150 restaurants, Ruth’s Chris has been in business for more than 57 years. As part of the pre-opening celebration, for the newest location in Melville, Ruth’s Chris will host a special dinner with community leaders, business owners, and Ruth’s Chris executives to raise money for Long Island’s Island Harvest Food Bank. “We’ve had the pleasure to serve the Long Island community for many years, and are fortunate to make available our one-of-a-kind experience to even more guests in the area,” said William Nicholson, general manager for Ruth’s Chris in Melville. “Ruth’s Chris offers its guests an exclusive dining experience – whether they’re celebrating a special occasion or enjoying an intimate dinner – no matter the size, we look forward to welcoming guests into our restaurant and showcasing the same top-notch service they’re accustomed to from the brand.” “The Melville location will be our third in the area, representing an exciting expansion in the region that further entrenches us throughout Long Island’s fine dining scene,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. “We look forward to welcoming new guests, as well as those who are already familiar with and passionate about our brand.” At Ruth's Chris, the last bite is just as good as the first. The company’s perfected broiling method and seasoning techniques ensure each cut of USDA Prime beef arrives cooked to perfection and sizzling on a 500-degree plate – just the way Ruth’s Chris founder Ruth Fertel liked it. Representing the highest-quality beef, these cuts are well marbled and hand-selected for thickness and tenderness. Ruth only served her guests the finest, and that’s why Ruth’s Chris serves custom-aged USDA Prime beef. While Ruth’s Chris’ USDA Prime steaks and their signature sizzle may have put the restaurant on the map, guests can also enjoy fresh seafood, scratch-made side dishes and desserts, craft cocktails and choice wines, served with the sort of hospitality that would make its namesake proud. Ruth’s Chris will also offer its Sizzle, Swizzle, Swirl Happy Hour at the Melville location with mouthwatering food and full-size appetizers from 4:00p.m. – 6:00p.m. every Sunday through Friday. For more information and hours of operation, please visit RuthsChris.com/restaurant-locations/melville/ or call (631) 371-3545. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel 57 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling steaks to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how it’s done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

7 Stocks to Avoid in a Recession

With recent indicators suggesting that the U.S. is in the middle of a downturn, interest regarding stocks to avoid in a recession has naturally picked up. Though contrarianism is an exciting concept, in many cases, it's better not to fight the tape.

investorplace.com

Ruth's Hospitality Group, Inc. (RUTH) CEO Cheryl Henry on Q2 2022 Results - Earnings Call Transcript

Ruth's Hospitality Group, Inc. (NASDAQ:RUTH ) Q2 2022 Earnings Conference Call August 5, 2022 8:30 AM ET Company Participants Mike Hynes - Vice President of Finance & Accounting Cheryl Henry - President, Chief Executive Officer & Chairperson of the Board Kristy Chipman - Chief Financial Officer & Chief Operating Officer Conference Call Participants Nicole Miller - Piper Sandler Brian Vaccaro - Raymond James Andy Barish - Jefferies Todd Brooks - The Benchmark Company Operator Good morning, and welcome to the Ruth's Hospitality Group, Inc. Second Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode.

seekingalpha.com

Ruth's Hospitality (RUTH) Beats Q2 Earnings and Revenue Estimates

Ruth's Hospitality (RUTH) delivered earnings and revenue surprises of 41.94% and 3.11%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

zacks.com

Ruth's Hospitality Group, Inc. Reports Second Quarter 2022 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its second quarter ended June 26, 2022 and provided a business update. Second Quarter and Recent Business Highlights (1) Delivered positive second quarter comparable sales versus both fiscal years 2021 and 2019. By period, comparable restaurant sales and average weekly sales for Company-owned restaurants for the second quarter 2022 were as follows: (do

businesswire.com

Ruth’s Hospitality Group, Inc. Reports Second Quarter 2022 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its second quarter ended June 26, 2022 and provided a business update. Second Quarter and Recent Business Highlights (1) Delivered positive second quarter comparable sales versus both fiscal years 2021 and 2019. By period, comparable restaurant sales and average weekly sales for Company-owned restaurants for the second quarter 2022 were as follows: (dollar amounts in thousands) April May June Q2 2022 Comparable Restaurant Sales vs. 2021 21.8% 13.1% 1.5% 12.6% Comparable Restaurant Sales vs. 2019 24.4% 20.1% 10.3% 18.6% Average Weekly Sales (all restaurants)(2) $127.8 $130.5 $117.7 $125.5 Approved a new $60 million share repurchase program and a $0.14 per share quarterly dividend Reduced the outstanding balance on our revolving credit facility to $40 million On August 1st, opened two new Company-owned restaurants in Worcester, MA and Long Beach, CA Second Quarter 2022 Restaurant sales in the second quarter of 2022 were $120.8 million compared to $104.2 million in the second quarter of 2021. Comparable sales increased 12.6% compared to the second quarter of 2021 and 18.6% compared to the second quarter of 2019. Franchise income in the second quarter of 2022 was $5.1 million compared to $4.5 million in the second quarter of 2021. Second quarter 2022 comparable restaurant sales at franchisee-owned restaurants increased 12.3% compared to 2021 and 19.1% compared to the second quarter of 2019. Food and beverage costs, as a percentage of restaurant sales, decreased 56 basis points to 29.8% compared to the second quarter of 2021. Total beef costs decreased 6% compared to the second quarter of 2021. Marketing and advertising plus general and administrative costs were 10.9% as a percentage of revenue compared to 10.8% in the second quarter of 2021. Net income in the second quarter of 2022 was $10.3 million, or $0.31 per diluted share, compared to net income of $12.4 million, or $0.36 per diluted share, in the second quarter of 2021. Net income in the second quarter of 2022 included a $6 million loss on legal settlement and an $8 thousand income tax expense related to the impact of discrete income tax items. Net income in the second quarter of 2021 included a $65 thousand employee retention payroll tax credit, which reduced restaurant operating expenses, a $394 thousand impairment loss and a $26 thousand income tax benefit related to the impact of discrete income tax items. Excluding these items, non-GAAP adjusted earnings per common share was $0.44 in the second quarter of 2022, compared to a non-GAAP adjusted earnings per common share of $0.36 in the second quarter of 2021. The Company believes that non-GAAP adjusted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. Net income in the second quarter of 2022 included a $6 million loss on legal settlement and an $8 thousand income tax expense related to the impact of discrete income tax items. Net income in the second quarter of 2021 included a $65 thousand employee retention payroll tax credit, which reduced restaurant operating expenses, a $394 thousand impairment loss and a $26 thousand income tax benefit related to the impact of discrete income tax items. Excluding these items, non-GAAP adjusted earnings per common share was $0.44 in the second quarter of 2022, compared to a non-GAAP adjusted earnings per common share of $0.36 in the second quarter of 2021. The Company believes that non-GAAP adjusted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. Excluding these items, non-GAAP adjusted earnings per common share was $0.44 in the second quarter of 2022, compared to a non-GAAP adjusted earnings per common share of $0.36 in the second quarter of 2021. The Company believes that non-GAAP adjusted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of the Company commented, “We were very pleased to deliver record performance for the quarter driven by strong demand from our guests. We generated double-digit comparable sales and solid margins, which led to adjusted earnings per share growth of 20% compared to 2021 and 41% compared to 2019. These results are made possible by our world-class teams serving the highest quality food with genuine hospitality each and every day.” Henry continued, “We also continued to invest in our future success with various initiatives, including enhanced training, technology and data analytics. Combined with our balanced and consistent approach to capital allocation, we believe Ruth’s Chris is ideally positioned to drive value for shareholders over the long run.” Business and Development Update Subsequent to the end of the second quarter, two new Company-owned restaurants were opened in Worcester, MA and Long Beach, CA. The Company expects to open one to two additional new Company-owned restaurants by the end of the year for a total of four to five new restaurants in 2022. The Company currently expects to open five to six Company-owned or managed restaurants in 2023. Cash and Debt As of August 1, 2022, the Company’s cash balance was approximately $46.9 million, with $40.0 million of debt outstanding under its amended and restated credit agreement and $4.7 million of outstanding letters of credit. Quarterly Cash Dividend The Company’s Board of Directors declared a quarterly dividend of $0.14 per share payable on September 2, 2022 to shareholders of record as of the close of business on August 19, 2022. Share Repurchase Program During the second quarter, the Company repurchased approximately 530 thousand shares for $9.5 million, at an average price of $18.01 per share. Subsequent to the end of the second quarter, the Company’s Board of Directors approved a new share repurchase program under which it authorized the repurchase of up to $60 million of the Company’s common shares outstanding. The new share repurchase authorization goes into effect on August 9 and does not expire. Share repurchases may be made from time to time in the open market or in negotiated transactions depending on share price, market conditions and other factors. The Company had approximately $15.4 million remaining under its previous share repurchase authorization, which will be retired on August 8 and replaced by the new share repurchase program. Financial Outlook Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its outlook for the following 2022 operating measures: Fiscal year 2022 restaurant labor expense improvement of approximately 200 basis points (as a percentage of restaurants sales) compared to 2019 Fiscal year 2022 combined marketing and general and administrative expenses is expected to be between 10.5% and 10.8% of revenue Effective income tax rate of 17% to 19% Fiscal year 2022 capital expenditures of $50 to $55 million The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to the “Cautionary Note Regarding Forward-Looking Statements” section in this earnings press release and to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition. Conference Call The Company will host a conference call to discuss second quarter 2022 financial results today at 8:30 AM Eastern Time. Hosting the call will be Cheryl J. Henry, President, Chief Executive Officer and Chairperson of the Board, and Kristy Chipman, Chief Financial Officer and Chief Operating Officer. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13730773. The replay will be available until Friday, August 12, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group, Inc. Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with 153 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties. Forward-looking statements frequently are identified by the words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “intend,” “likely result,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek”, “should,” “target,” “would” and other similar words and phrases.. Similarly, statements herein that describe the Company’s objectives, plans or goals, including with respect to restaurant closures and re-openings, new restaurant openings and acquisitions or closures, capital expenditures, strategy, financial outlook, liquidity outlook, our effective tax rate, and the impact of healthcare inflation and recent accounting pronouncements, also are forward-looking statements. Actual results could differ materially from those projected, implied or anticipated by the Company’s forward-looking statements. Some of the factors that could cause actual results to differ include: the negative impact the COVID-19 pandemic has had and will continue to have on our business, financial condition and results of operations; reductions in the availability of, or increases in the cost of, USDA Prime grade beef, fish and other food items; impacts from the conflict in Ukraine, including potential supply disruptions; changes in economic conditions, including inflationary concerns, and general trends; the loss of key management personnel; the effect of market volatility on the Company’s stock price; health concerns about beef or other food products; the effect of competition in the restaurant industry; changes in consumer preferences or discretionary spending; labor shortages or increases in labor costs; the impact of federal, state or local government regulations relating to income taxes, unclaimed property, Company employees, the sale or preparation of food, the sale of alcoholic beverages and the opening of new restaurants; political conditions, civil unrest or other developments and risks in the markets where the Company’s restaurants are located; harmful actions taken by the Company’s franchisees; the inability to successfully integrate franchisee acquisitions into the Company’s business operations; economic, regulatory and other limitations on the Company’s ability to pursue new restaurant openings and other organic growth opportunities; a material failure, interruption or security breach of the Company’s information technology network; the Company’s indemnification obligations in connection with its sale of the Mitchell’s Restaurants; the Company’s ability to protect its name and logo and other proprietary information; an impairment in the financial statement carrying value of our goodwill, other intangible assets or property; gains or losses on lease modifications; the impact of litigation; the restrictions imposed by the Company’s credit agreement; changes in, or the suspension or discontinuation of, the Company’s quarterly cash dividend payments or share repurchase program; and the inability to secure additional financing on terms acceptable to the Company. For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2021, and the Company’s other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. You should not assume that material events subsequent to the date of this press release have not occurred. Unless the context otherwise indicates, all references in this report to the “Company,” “Ruth’s,” “we,” “us”, “our” or similar words are to Ruth’s Hospitality Group, Inc. and its subsidiaries. Ruth’s Hospitality Group, Inc. is a Delaware corporation formerly known as Ruth’s Chris Steak House, Inc., and was founded in 1965. (1) In order to assist with the review of our quarterly and annual results, we have provided an additional comparison to the same period in 2019 for some of our financial measures. (2) Average Weekly Sales is an average of restaurant sales for all Company-owned restaurants. 2022 2021 2022 2021 $ 120,758 $ 104,165 $ 239,472 $ 185,801 5,129 4,528 9,860 8,320 2,760 2,217 5,447 4,072 128,647 110,910 254,779 198,193 35,962 31,607 74,573 54,528 54,241 45,400 108,880 82,983 4,747 3,232 9,662 5,225 9,327 8,774 18,568 15,970 5,135 5,084 9,928 10,147 743 159 1,625 604 6,000 — 6,000 — — 394 — 394 116,155 94,650 229,236 169,851 12,492 16,260 25,543 28,342 (239) (1,128) (563) (2,431) 34 36 62 80 12,287 15,168 25,042 25,991 1,952 2,757 4,294 4,455 $ 10,335 $ 12,411 $ 20,748 $ 21,536 $ 0.31 $ 0.36 $ 0.62 $ 0.63 $ 0.31 $ 0.36 $ 0.61 $ 0.62 33,529,727 34,398,251 33,559,783 34,340,492 33,866,977 34,652,869 33,868,651 34,620,626 $ 0.14 $ — $ 0.26 $ — 2022 2021 2022 2021 $ 10,335 $ 12,411 $ 20,748 $ 21,536 1,952 2,757 4,294 4,455 12,287 15,168 25,042 25,991 — (65) — (365) — — — 445 6,000 — 6,000 — — 394 — 394 18,287 15,497 31,042 26,465 (3,452) (2,839) (5,794) (4,574) 8 (26) (4) (174) $ 14,843 $ 12,632 $ 25,244 $ 21,717 $ 0.31 $ 0.36 $ 0.61 $ 0.62 $ 0.44 $ 0.36 $ 0.75 $ 0.63 33,866,977 34,652,869 33,868,651 34,620,626

businesswire.com

These Beaten-Down Stocks Could Reap Monster Returns From Strong Consumer Spending

You don't have to look as far afield as hotels or cruises to find stocks that can ride the increase in travel and entertainment spending.

fool.com

This Beaten Down Stock Could Serve Up Prime Returns

This stock is well-positioned at the top of the restaurant industry's food chain.

fool.com

Ruth’s Hospitality Group, Inc. to Announce Second Quarter 2022 Financial Results on August 5, 2022

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that it will host a conference call to discuss second quarter 2022 financial results on Friday, August 5, 2022 at 8:30 AM Eastern Time. A press release with second quarter 2022 financial results will be issued at approximately 7:00 AM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13730773. The replay will be available until Friday, August 12, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with 151 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

7 Entertainment Stocks to Buy This Summer

With people desiring to get out of the house irrespective of the cost, these entertainment stocks to buy could pan out well. The post 7 Entertainment Stocks to Buy This Summer appeared first on InvestorPlace.

investorplace.com

6 Quality Dividend Stocks to Buy With Secure Payout Ratios

These six quality dividend stocks provide investors a good deal of security, as the dividends account for a low percentage of earnings. The post 6 Quality Dividend Stocks to Buy With Secure Payout Ratios appeared first on InvestorPlace.

investorplace.com

Ruth's Hospitality Group: Decent Growth At An Attractive Valuation

Ruth's Hospitality Group posted strong performance in the latest quarter. The stock is trading at a discount compared to industry, as well as its own historical levels.

seekingalpha.com

Ruth's Hospitality Group, Inc. (RUTH) CEO Cheryl Henry on Q1 2022 Results - Earnings Call Transcript

Ruth's Hospitality Group, Inc. (NASDAQ:RUTH ) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET Company Participants Cheryl Henry - President, Chief Executive Officer and Chairwoman Kristy Chipman - Chief Financial Officer and Chief Operating Officer Michael Hynes - Vice President of Finance and Accounting Conference Call Participants Brian Vaccaro - Raymond James & Associates Nicole Miller - Piper Sandler & Co Andy Barish - Jefferies Todd Brooks - The Benchmark Company Operator Good morning, ladies and gentlemen, and welcome to today's Ruth's Hospitality Group First Quarter 2022 Earnings Conference Call. [Operator Instructions].

seekingalpha.com

Ruth's Hospitality (RUTH) Q1 Earnings and Revenues Surpass Estimates

Ruth's Hospitality (RUTH) delivered earnings and revenue surprises of 3.33% and 6.93%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

zacks.com

Ruth's Hospitality Group, Inc. Reports First Quarter 2022 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its first quarter ended March 27, 2022 and provided a business update. Year to Date Highlights (1) Opened our first of five anticipated 2022 new restaurants in Aventura, FL. The Company has opened three new Company-owned restaurants in the past two quarters. Announced a second quarter dividend increase to $0.14 from $0.12 Repaid $20.0 million of debt o

businesswire.com

Ruth’s Hospitality Group, Inc. Reports First Quarter 2022 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its first quarter ended March 27, 2022 and provided a business update. Year to Date Highlights (1) Opened our first of five anticipated 2022 new restaurants in Aventura, FL. The Company has opened three new Company-owned restaurants in the past two quarters. Announced a second quarter dividend increase to $0.14 from $0.12 Repaid $20.0 million of debt on our revolving credit facility during the first quarter and repaid an additional $25.0 million in April First quarter comparable sales were positive compared to both fiscal years 2021 and 2019. By period, comparable restaurant sales and average weekly sales for Company-owned restaurants for the first quarter 2022 were as follows: January February March Q1 2022 Comparable Restaurant Sales vs. 2021 49.9% 44.7% 30.5% 41.5% Comparable Restaurant Sales vs. 2019 -0.2% 11.5% 14.4% 8.1% Average Weekly Sales (all restaurants)(2) $108.5 $141.7 $128.0 $124.7 (1) In order to assist with the review of our quarterly and annual results, we have provided an additional comparison to the same period in 2019 for some of our financial measures. (2) Average Weekly Sales is an average of restaurant sales for all Company-owned restaurants. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of Ruth’s Hospitality Group, Inc., commented, “I’m extremely proud of our team members for delivering impressive first quarter sales and earnings growth. Given our momentum, we are optimistic about our business, particularly in light of our operational improvements, the strength of our development pipeline for both 2022 and 2023, and positive early results from our digital initiatives, which are clearly benefiting our top line. While we acknowledge the challenges that still exist at home and abroad, we believe we are well-positioned to deliver on our total return strategy that combines organic growth investments with returning cash to shareholders.” First Quarter 2022 Restaurant sales in the first quarter of 2022 were $118.7 million compared to $81.6 million in the first quarter of 2021. Comparable sales increased 41.5% compared to the first quarter of 2021 and 8.1% compared to the first quarter of 2019. Franchise income in the first quarter of 2022 was $4.7 million compared to $3.8 million in the first quarter of 2021. First quarter 2022 comparable restaurant sales at franchisee-owned restaurants increased 24.6% compared to 2021 and 8.1% compared to the first quarter of 2019. Food and beverage costs, as a percentage of restaurant sales, increased 445 basis points to 32.5% compared to the first quarter of 2021. Total beef costs increased 37% compared to the first quarter of 2021. Marketing and advertising plus general and administrative costs were 11.2% as a percentage of revenue compared to 10.5% in the first quarter of 2021. The increase was primarily related to planned investments in data and digital initiatives. Net income in the first quarter of 2022 was $10.4 million, or $0.31 per diluted share, compared to net income of $9.1 million, or $0.26 per diluted share, in the first quarter of 2021. Business and Development Update We opened a new Company-owned restaurant in Aventura, FL in the first quarter of 2022. We expect to open four additional new Company-owned or managed restaurants by the end of 2022. The Company currently has two leases signed for Company-owned restaurants scheduled to open in 2023. Cash and Debt As of May 2, 2022, the Company’s cash balance was approximately $50.7 million, with $25.0 million of debt outstanding under its amended and restated credit agreement and $4.7 million of outstanding letters of credit. Quarterly Cash Dividend The Company’s Board of Directors declared a quarterly dividend of $0.14 per share payable on June 2, 2022, to shareholders of record as of the close of business on May 19, 2022. Financial Outlook Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its outlook for the following 2022 operating measures: Fiscal year 2022 restaurant labor expense improvement of approximately 200 basis points (as a percentage of restaurants sales) compared to 2019 Fiscal year 2022 combined marketing and general and administrative expenses is expected to be between 10.3% and 10.8% of revenue Effective income tax rate of 17% to 19% Fiscal year 2022 capital expenditures of $53 to $58 million The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to the “Cautionary Note Regarding Forward-Looking Statements” section in this earnings press release and to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition. Conference Call The Company will host a conference call to discuss first quarter 2022 financial results today at 8:30 AM Eastern Time. Hosting the call will be Cheryl J. Henry, President, Chief Executive Officer and Chairperson of the Board, and Kristy Chipman, Chief Financial Officer and Chief Operating Officer. The conference call can be accessed live over the phone by dialing 412-317-6026. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 10166325. The replay will be available until Thursday, May 13, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group, Inc. Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with 151 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties. Forward-looking statements frequently are identified by the words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “intend,” “likely result,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek”, “should,” “target,” “would” and other similar words and phrases.. Similarly, statements herein that describe the Company’s objectives, plans or goals, including with respect to restaurant closures and re-openings, new restaurant openings and acquisitions or closures, capital expenditures, strategy, financial outlook, liquidity outlook, our effective tax rate, and the impact of healthcare inflation and recent accounting pronouncements, also are forward-looking statements. Actual results could differ materially from those projected, implied or anticipated by the Company’s forward-looking statements. Some of the factors that could cause actual results to differ include: the negative impact the COVID-19 pandemic has had and will continue to have on our business, financial condition and results of operations; reductions in the availability of, or increases in the cost of, USDA Prime grade beef, fish and other food items; impacts from the conflict in Ukraine, including potential supply disruptions; changes in economic conditions, including inflationary concerns, and general trends; the loss of key management personnel; the effect of market volatility on the Company’s stock price; health concerns about beef or other food products; the effect of competition in the restaurant industry; changes in consumer preferences or discretionary spending; labor shortages or increases in labor costs; the impact of federal, state or local government regulations relating to income taxes, unclaimed property, Company employees, the sale or preparation of food, the sale of alcoholic beverages and the opening of new restaurants; political conditions, civil unrest or other developments and risks in the markets where the Company’s restaurants are located; harmful actions taken by the Company’s franchisees; the inability to successfully integrate franchisee acquisitions into the Company’s business operations; economic, regulatory and other limitations on the Company’s ability to pursue new restaurant openings and other organic growth opportunities; a material failure, interruption or security breach of the Company’s information technology network; the Company’s indemnification obligations in connection with its sale of the Mitchell’s Restaurants; the Company’s ability to protect its name and logo and other proprietary information; an impairment in the financial statement carrying value of our goodwill, other intangible assets or property; gains or losses on lease modifications; the impact of litigation; the restrictions imposed by the Company’s credit agreement; changes in, or the suspension or discontinuation of, the Company’s quarterly cash dividend payments or share repurchase program; and the inability to secure additional financing on terms acceptable to the Company. For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2021, and the Company’s other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. You should not assume that material events subsequent to the date of this press release have not occurred. Unless the context otherwise indicates, all references in this report to the “Company,” “Ruth’s,” “we,” “us”, “our” or similar words are to Ruth’s Hospitality Group, Inc. and its subsidiaries. Ruth’s Hospitality Group, Inc. is a Delaware corporation formerly known as Ruth’s Chris Steak House, Inc., and was founded in 1965. 2022 2021 $ 118,713 $ 81,636 4,730 3,792 2,689 1,855 126,132 87,283 38,611 22,921 54,640 37,583 4,915 1,993 9,241 7,196 4,793 5,063 881 445 113,081 75,201 13,051 12,082 (324 ) (1,303 ) 28 44 12,755 10,823 2,342 1,698 $ 10,413 $ 9,125 $ 0.31 $ 0.27 $ 0.31 $ 0.26 33,589,838 34,282,733 33,885,076 34,599,764 $ 0.12 $ — RECONCILIATION OF NON-GAAP FINANCIAL MEASURE We prepare our financial statements in accordance with U.S. generally accepted accounting principles (GAAP). Within our press release, we make reference to non-GAAP diluted earnings per common share. This non-GAAP measurement was calculated by excluding the impact of an employee retention payroll tax credit, accelerated stock compensation and severance payments, and certain discrete income tax items. We exclude the impact of the employee retention payroll tax credit, accelerated stock compensation and severance payments, and certain discrete income tax items to improve comparability of diluted earnings per common share between periods. This non-GAAP measurement has been included as supplemental information. We believe that this measure represents a useful internal measure of performance. Accordingly, where this non-GAAP measure is provided, it is done so that investors have the same financial data that management uses in evaluating performance with the belief that it will assist the investment community in assessing our underlying performance on a quarter-over-quarter basis. However, because this measure is not determined in accordance with GAAP, such a measure is susceptible to varying calculations and not all companies calculate the measure in the same manner. As a result, the aforementioned measure as presented may not be directly comparable to a similarly titled measure presented by other companies. This non-GAAP financial measure is presented as supplemental information and not as an alternative to diluted earnings per share as calculated in accordance with GAAP. 2022 2021 $ 10,413 $ 9,125 2,342 1,698 12,755 10,823 — (300 ) — 445 12,755 10,968 (2,342 ) (1,734 ) (12 ) (148 ) $ 10,401 $ 9,086 $ 0.31 $ 0.26 $ 0.31 $ 0.26 33,885,076 34,599,764

businesswire.com

Ruth's Hospitality (RUTH) Earnings Expected to Grow: Should You Buy?

Ruth's Hospitality (RUTH) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

zacks.com

Ruth's Hospitality Group, Inc. to Announce First Quarter 2022 Financial Results on May 6, 2022

businesswire.com

Ruth’s Hospitality Group, Inc. to Announce First Quarter 2022 Financial Results on May 6, 2022

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that it will host a conference call to discuss first quarter 2022 financial results on Friday, May 6, 2022 at 8:30 AM Eastern Time. A press release with first quarter 2022 financial results will be issued at approximately 7:00 AM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 412-317-6026. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 10166325. The replay will be available until Friday, May 13, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with 150 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

5 Restaurant Stocks Rising Above the Rest

Restaurant stocks could be growthy comeback play in 2022, though they're hardly a slam dunk. Restaurants are pulling numerous levers to resuscitate sales of on-premise dining, drive-thru pickup and delivery channels to recover from some of the ill-effects COVID-19 had on consumers' patronage.

kiplinger.com

Ruth's Hospitality Group Stock is Sizzling

Steakhouse operator Ruths Hospitality Group (NASDAQ: RUTH) stock have illustrated relative strength amid the sell-off in benchmark indexes.

marketbeat.com

7 Small-Cap Stocks to Buy for Above Average Returns

With the world focusing its attention on major blue chips amid the crisis, it may be time to consider small-cap stocks to buy. The post 7 Small-Cap Stocks to Buy for Above Average Returns appeared first on InvestorPlace.

investorplace.com

It's Time To Snack On Ruth's Hospitality Group

Shares of Ruth's Hospitality Group (NASDAQ: RUTH) tanked and tanked hard in the wake of the Q4 earnings release but we're not surprised the loss has already been recovered. Institutional buying has been aggressively bullish the last year and especially YTD in 2022 and the results aren't bad.

marketbeat.com

Ruth's Hospitality Group, Inc. (RUTH) CEO Cheryl Henry on Q4 2021 Results - Earnings Call Transcript

seekingalpha.com

Ruth's Hospitality (RUTH) Tops Q4 Earnings and Revenue Estimates

Ruth's Hospitality (RUTH) delivered earnings and revenue surprises of 41.67% and 4.63%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

zacks.com

Ruth's Hospitality Group, Inc. Reports Fourth Quarter 2021 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its fourth quarter and fiscal year ended December 26, 2021 and provided a business update. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of Ruth's Hospitality Group, Inc., commented, “The outstanding efforts from our team members allowed us to post solid fourth quarter results with positive comparable sales

businesswire.com

Ruth’s Hospitality Group, Inc. Reports Fourth Quarter 2021 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its fourth quarter and fiscal year ended December 26, 2021 and provided a business update. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of Ruth’s Hospitality Group, Inc., commented, “The outstanding efforts from our team members allowed us to post solid fourth quarter results with positive comparable sales growth versus 2019 and strong restaurant-level profitability. More importantly, these accomplishments came on the heels of several headwinds, including the emergence of Omicron in December, continued challenges in the labor market, and ongoing beef inflation. All in all, we believe our performance in 2021 has demonstrated that our underlying business is strong.” Henry added, “As we enter the new year, we are committed to our total return strategy, demonstrated by our investment in people, technology and unit growth, as well as returning cash to shareholders and paying down debt.” Fourth Quarter and Fiscal Year 2021 Financial Highlights (1) By period, comparable restaurant sales and average weekly sales for Company-owned restaurants for the fourth quarter and fiscal year 2021 were as follows: (dollar amounts in thousands) October November December Q4 2021 FY 2021 Comparable Restaurant Sales vs. 2020 35.1% 58.3% 98.0% 61.2% 58.6% Comparable Restaurant Sales vs. 2019 2.8% 6.0% -5.3% 0.5% -3.6% Average Weekly Sales (all restaurants)(2) $105.7 $119.6 $147.7 $123.0 $105.5 Fourth Quarter 2021 Restaurant sales in the fourth quarter of 2021 were $118.7 million compared to $72.2 million in the fourth quarter of 2020. Fourth quarter comparable restaurant sales compared to 2019 would have increased 6.9% absent the impact of three markets (Boston, Hawaii and Manhattan), which continued to be challenged by local restrictions and market conditions during the fourth quarter of 2021. Franchise income in the fourth quarter of 2021 was $5.5 million compared to $3.6 million in the fourth quarter of 2020. Fourth quarter 2021 comparable restaurant sales at franchisee-owned restaurants increased 49.5% compared to 2020 and 13.9% compared to the fourth quarter of 2019. Food and beverage costs, as a percentage of restaurant sales, increased 470 basis points to 34.1% compared to the fourth quarter of 2020. Total beef costs increased 43% compared to the fourth quarter of 2020. Operating income in the fourth quarter was $12.3 million compared to $4.7 million in the fourth quarter of 2020. As a percentage of total revenues, operating income in the fourth quarter of 2021 increased to 9.7% compared to 6.1% in the fourth quarter of 2020. Net income in the fourth quarter of 2021 was $13.8 million, or $0.40 per diluted share, compared to net income of $1.4 million, or $0.04 per diluted share, in the fourth quarter of 2020. Net income in the fourth quarter of 2021 included a $1.1 million loss on lease modifications, a $1.5 million loss on impairment and a $4.1 million income tax benefit related to the impact of discrete income tax items. Net income in the fourth quarter of 2020 included a $2.5 million employee retention payroll tax credit, which reduced restaurant operating expenses, $322 thousand in severance costs and accelerated stock expense, $28 thousand in gain related to lease modifications, a $295 thousand impairment loss related to restaurant closures, and a $1.1 million income tax expense related to the impact of discrete income tax items. Excluding these items, non-GAAP diluted earnings per common share was $0.34 in the fourth quarter of 2021, compared to $0.03 in the fourth quarter of 2020. The Company believes that non-GAAP diluted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. Net income in the fourth quarter of 2021 included a $1.1 million loss on lease modifications, a $1.5 million loss on impairment and a $4.1 million income tax benefit related to the impact of discrete income tax items. Net income in the fourth quarter of 2020 included a $2.5 million employee retention payroll tax credit, which reduced restaurant operating expenses, $322 thousand in severance costs and accelerated stock expense, $28 thousand in gain related to lease modifications, a $295 thousand impairment loss related to restaurant closures, and a $1.1 million income tax expense related to the impact of discrete income tax items. Excluding these items, non-GAAP diluted earnings per common share was $0.34 in the fourth quarter of 2021, compared to $0.03 in the fourth quarter of 2020. The Company believes that non-GAAP diluted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. Fiscal Year 2021 Restaurant sales in 2021 were $402.0 million compared to $260.8 million in 2020. Franchise income in 2021 was $18.5 million compared to $11.7 million in 2020. Comparable restaurant sales in 2021 at franchisee-owned restaurants increased 50.3% compared to 2020 and 6.4% compared to 2019. Food and beverage costs in 2021, as a percentage of restaurant sales, increased 290 basis points to 32.0% compared to 2020. Total beef costs increased 37% compared to 2020. Operating income in 2021 was $49.7 million, or 11.6% of total revenues, compared to a loss of $28.5 million in 2020. Net income in 2021 was $42.3 million, or $1.23 per diluted share, compared to a net loss of $25.3 million, or ($0.80) per diluted share, in 2020. Net income in 2021 included a $381 thousand employee retention payroll tax credit, $445 thousand in severance costs and accelerated stock expense, a $1.1 million loss on lease modifications, a $1.9 million loss on impairment and a $4.3 million income tax benefit related to the impact of discrete income tax items. Net loss in 2020 included a $2.5 million employee retention payroll tax credit, $1.8 million in severance costs and accelerated stock expense, $206 thousand in gain related to lease modifications, a $16.5 million impairment loss primarily related to restaurant closures and a $1.5 million income tax expense related to the impact of discrete income tax items. Excluding these items, non-GAAP diluted earnings per common share was $1.17 in 2021, compared to a loss of ($0.38) in 2020. The Company believes that non-GAAP diluted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. Net income in 2021 included a $381 thousand employee retention payroll tax credit, $445 thousand in severance costs and accelerated stock expense, a $1.1 million loss on lease modifications, a $1.9 million loss on impairment and a $4.3 million income tax benefit related to the impact of discrete income tax items. Net loss in 2020 included a $2.5 million employee retention payroll tax credit, $1.8 million in severance costs and accelerated stock expense, $206 thousand in gain related to lease modifications, a $16.5 million impairment loss primarily related to restaurant closures and a $1.5 million income tax expense related to the impact of discrete income tax items. Excluding these items, non-GAAP diluted earnings per common share was $1.17 in 2021, compared to a loss of ($0.38) in 2020. The Company believes that non-GAAP diluted earnings per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. (1) In order to assist with the review of our quarterly and annual results, we have provided an additional comparison to the same period in 2019 for some of our financial measures as many of the 2020 financial measures were impacted by COVID-related restaurant closures. (2) Average Weekly Sales is an average of restaurant sales for all Company-owned restaurants. Business and Development Update Quarter to date through February 20, 2022, Company-owned comparable restaurant sales increased 4.3% compared to 2019. We opened three new restaurants in the fourth quarter of 2021, including two Company-owned restaurants in Short Hills, New Jersey and Lake Grove, New York, as well as a franchisee-owned restaurant in Changsha, China, and closed our Bethesda, Maryland and Mauna Lani, Hawaii restaurants in December 2021. We expect to open a total of five additional new Company-owned or managed restaurants by the end of 2022. The Company currently has two leases signed for Company-owned restaurants scheduled to open in 2023. Share Repurchase and Debt During the fourth quarter of 2021, the Company repurchased 695 thousand shares of common stock under its share repurchase program for approximately $12.8 million, or an average price of $18.35 per share. As of February 22, 2022, the Company’s cash balance was approximately $84.6 million, with $50.0 million of debt outstanding under its amended and restated credit agreement and $4.7 million of outstanding letters of credit. Quarterly Cash Dividend As previously announced, the Company’s Board of Directors approved the reinstatement of its quarterly cash dividend program. The Board of Directors declared a quarterly dividend of $0.12 per share that was paid on February 17, 2022 to shareholders of record as of the close of business on February 3, 2022. Financial Outlook Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its outlook for the following 2022 operating measures: First quarter food and beverage costs of 32.5% to 33.5% Fiscal year 2022 restaurant labor expense improvement of approximately 200 basis points (as a percentage of restaurants sales) compared to 2019 Fiscal year 2022 combined marketing and general and administrative expenses is expected to be between 10.0% and 10.5% of revenue Effective income tax rate of 17% to 19% Fiscal year 2022 capital expenditures of $53 to $58 million The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to the “Cautionary Note Regarding Forward-Looking Statements” section in this earnings press release and to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition. Conference Call The Company will host a conference call to discuss fourth quarter and fiscal year 2021 financial results today at 8:30 AM Eastern Time. Hosting the call will be Cheryl J. Henry, President, Chief Executive Officer and Chairperson of the Board, and Kristy Chipman, Chief Financial Officer and Chief Operating Officer. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13726538. The replay will be available until Thursday, March 3, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group, Inc. Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with 150 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties. Forward-looking statements frequently are identified by the words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “intend,” “likely result,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek”, “should,” “target,” “would” and other similar words and phrases.. Similarly, statements herein that describe the Company’s objectives, plans or goals, including with respect to restaurant closures and re-openings, new restaurant openings and acquisitions or closures, capital expenditures, strategy, financial outlook, liquidity outlook, our effective tax rate, and the impact of healthcare inflation and recent accounting pronouncements, also are forward-looking statements. Actual results could differ materially from those projected, implied or anticipated by the Company’s forward-looking statements. Some of the factors that could cause actual results to differ include: the negative impact the COVID-19 pandemic has had and will continue to have on our business, financial condition and results of operations; reductions in the availability of, or increases in the cost of, USDA Prime grade beef, fish and other food items; changes in economic conditions, including inflationary concerns, and general trends; the loss of key management personnel; the effect of market volatility on the Company’s stock price; health concerns about beef or other food products; the effect of competition in the restaurant industry; changes in consumer preferences or discretionary spending; labor shortages or increases in labor costs; the impact of federal, state or local government regulations relating to income taxes, unclaimed property, Company employees, the sale or preparation of food, the sale of alcoholic beverages and the opening of new restaurants; political conditions, civil unrest or other developments and risks in the markets where the Company’s restaurants are located; harmful actions taken by the Company’s franchisees; the inability to successfully integrate franchisee acquisitions into the Company’s business operations; economic, regulatory and other limitations on the Company’s ability to pursue new restaurant openings and other organic growth opportunities; a material failure, interruption or security breach of the Company’s information technology network; the Company’s indemnification obligations in connection with its sale of the Mitchell’s Restaurants; the Company’s ability to protect its name and logo and other proprietary information; an impairment in the financial statement carrying value of our goodwill, other intangible assets or property; gains or losses on lease modifications; the impact of litigation; the restrictions imposed by the Company’s credit agreement; changes in, or the suspension or discontinuation of, the Company’s quarterly cash dividend payments or share repurchase program; and the inability to secure additional financing on terms acceptable to the Company. For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 27, 2020, and the Company’s other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. You should not assume that material events subsequent to the date of this press release have not occurred. Unless the context otherwise indicates, all references in this report to the “Company,” “Ruth’s,” “we,” “us”, “our” or similar words are to Ruth’s Hospitality Group, Inc. and its subsidiaries. Ruth’s Hospitality Group, Inc. is a Delaware corporation formerly known as Ruth’s Chris Steak House, Inc., and was founded in 1965. 13 Weeks Ended 52 Weeks Ended December 26, December 27, December 26, December 27, 2021 2020 2021 2020 $ 118,677 $ 72,151 $ 402,015 $ 260,763 5,471 3,644 18,533 11,737 2,595 1,577 8,575 5,248 126,743 77,372 429,123 277,748 40,521 21,268 128,450 75,831 50,658 33,195 179,671 150,420 5,803 1,574 13,464 6,859 8,840 10,581 32,531 33,248 5,355 5,304 20,487 21,964 709 448 1,894 1,633 1,058 (28 ) 1,058 (206 ) 1,461 295 1,854 16,548 114,405 72,637 379,409 306,297 12,338 4,735 49,714 (28,549 ) (368 ) (1,340 ) (3,478 ) (4,681 ) 39 38 102 26 12,009 3,433 46,338 (33,204 ) (1,791 ) 2,010 4,063 (7,910 ) $ 13,800 $ 1,423 $ 42,275 $ (25,294 ) $ 0.41 $ 0.04 $ 1.23 $ (0.80 ) $ 0.40 $ 0.04 $ 1.23 $ (0.80 ) 33,921,311 34,256,769 34,255,966 31,683,920 34,081,852 34,396,700 34,468,198 31,683,920 $ — $ — $ — $ 0.15 RECONCILIATION OF NON-GAAP FINANCIAL MEASURE We prepare our financial statements in accordance with U.S. generally accepted accounting principles (GAAP). Within our press release, we make reference to non-GAAP diluted earnings per common share. This non-GAAP measurement was calculated by excluding the impact of an employee retention payroll tax credit, accelerated stock compensation and severance payments, loss (gain) on lease modifications, loss on impairment and restaurant closure costs and certain discrete income tax items. We exclude the impact of the employee retention payroll tax credit, accelerated stock compensation and severance payments, loss (gain) on lease modifications, loss on impairment and restaurant closure costs and certain discrete income tax items to improve comparability of diluted earnings per common share between periods. This non-GAAP measurement has been included as supplemental information. We believe that this measure represents a useful internal measure of performance. Accordingly, where this non-GAAP measure is provided, it is done so that investors have the same financial data that management uses in evaluating performance with the belief that it will assist the investment community in assessing our underlying performance on a quarter-over-quarter basis. However, because this measure is not determined in accordance with GAAP, such a measure is susceptible to varying calculations and not all companies calculate the measure in the same manner. As a result, the aforementioned measure as presented may not be directly comparable to a similarly titled measure presented by other companies. This non-GAAP financial measure is presented as supplemental information and not as an alternative to diluted earnings per share as calculated in accordance with GAAP. 13 Weeks Ended 52 Weeks Ended December 26, December 27, December 26, December 27, 2021 2020 2021 2020 $ 13,800 $ 1,423 $ 42,275 $ (25,294 ) (1,791 ) 2,010 4,063 (7,910 ) 12,009 3,433 46,338 (33,204 ) — (2,525 ) (381 ) (2,525 ) — 322 445 1,824 1,058 (28 ) 1,058 (206 ) 1,461 295 1,854 16,548 14,528 1,497 49,314 (17,563 ) 1,161 (1,526 ) (4,807 ) 4,000 (4,129 ) 1,142 (4,274 ) 1,455 $ 11,560 $ 1,113 $ 40,233 $ (12,108 ) $ 0.40 $ 0.04 $ 1.23 $ (0.80 ) $ 0.34 $ 0.03 $ 1.17 $ (0.38 ) 34,081,852 34,396,700 34,468,198 31,683,920

businesswire.com

7 of the Top Restaurant Stocks to Serve Up

There's a lot going on these days, so it's best to keep it safe and simple when you're investing. Restaurant stocks offer a perfect solution.

investorplace.com

Ruth’s Hospitality Group, Inc. to Announce Fourth Quarter and Full Year 2021 Financial Results on February 24, 2022

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that it will host a conference call to discuss fourth quarter and full year 2021 financial results on Thursday, February 24, 2022 at 8:30 AM Eastern Time. A press release with fourth quarter and full year 2021 financial results will be issued at approximately 7:00 AM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13726538. The replay will be available until Thursday, March 3, 2022. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group Ruth's Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with over 140 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

Ruth's Hospitality Group, Inc. to Participate at the 2022 Virtual ICR Conference

businesswire.com

Ruth’s Hospitality Group, Inc. to Participate at the 2022 Virtual ICR Conference

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that the Company will participate in a fireside chat discussion at the 2022 Virtual ICR Conference on Monday, January 10, 2022. Ruth’s discussion will begin at 10:30 AM ET. Investors and interested parties may listen to a live webcast of this discussion from our corporate website at www.rhgi.com under the “Investor Relations” tab. About Ruth’s Hospitality Group Ruth's Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with over 140 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

Should Value Investors Pick Ruth's Hospitality (RUTH) Now?

Is Ruth's Hospitality Group (RUTH) a great pick from the value investor's perspective right now? Read on to know more.

zacks.com

Ruth's Hospitality Continues to Expand on Strong Earnings

Ruth's Hospitality Group Inc. ( RUTH , Financial) continues to expand on the heels of strong third-quarter results.

gurufocus.com

Ruth's Chris Steak House Opens New Location in Lake Grove, New York

LAKE GROVE, N.Y.--(BUSINESS WIRE)--RUTH'S CHRIS STEAK HOUSE OPENS NEW LOCATION IN LAKE GROVE, NEW YORK

businesswire.com

Ruth’s Chris Steak House Opens New Location in Lake Grove, New York

LAKE GROVE, N.Y.--(BUSINESS WIRE)--Ruth’s Chris Steak House, famous for its unmatched dining experience and steaks served on 500-degree sizzling plates, announced today its newest location in Lake Grove, which is now open for business. The new restaurant is located in The Smith Haven Mall (472 Smith Haven Mall) near Barnes & Noble. Ruth’s Chris brings its exquisite fare and exclusive dining experience to the area in its new 6,917-square-foot restaurant. The new space features two main dining rooms, a luxurious bar with ample seating and a variety of high tops, and two private dining rooms that can accommodate personal and family celebrations, business meetings and much more. The space is elegantly appointed and thoughtfully designed to provide a pleasurable and refined dining experience for every guest. Ruth’s Chris has been in business for more than 56 years, and its new Lake Grove location is its 151st restaurant. As part of the pre-opening celebration, Ruth’s Chris hosted a special dinner with community leaders, business owners, Ruth’s Chris executives, members of the media, and local influencers while raising money for the restaurant’s local charity partner and food bank for Long Island – Island Harvest. “We are thrilled to be joining the Smith Haven Mall community and to be serving those who live in and visit the surrounding area,” said Patrick Costello, general manager for Ruth’s Chris in Lake Grove. “Dining at Ruth’s Chris is an experience like no other, and we look forward to welcoming guests for everything from intimate dinners to family occasions and celebrations of all of life’s moments – big or small.” “Long Island has been home to Ruth’s Chris for more than 25 years, and we are very excited to open another location there that will allow us to welcome even more guests to enjoy our truly unique and unmatched steak house experience,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. At Ruth's Chris, the last bite is just as good as the first. The company’s perfected broiling method and seasoning techniques ensure each cut of USDA Prime beef arrives cooked to perfection and sizzling on a 500-degree plate – just the way Ruth’s Chris founder Ruth Fertel liked it. Representing the highest-quality beef, these cuts are well marbled and hand-selected for thickness and tenderness. Ruth only served her guests the finest, and that’s why Ruth’s Chris serves custom-aged USDA Prime beef. While Ruth’s Chris’ USDA Prime steaks and their signature sizzle may have put the restaurant on the map, guests can also enjoy fresh seafood, scratch-made side dishes and desserts, craft cocktails and choice wines, served with the sort of hospitality that would make its namesake proud. For more information and hours of operation, please visit RuthsChris.com/restaurant-locations/lake-grove/ or call (631) 973-4230. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel more than 55 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling steaks to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how celebrating more is done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

Ruth's Hospitality Q3 Earnings Top Estimates Despite Higher Beef Costs

Ruth's Hospitality Group Inc (NASDAQ: RUTH) reported third-quarter FY21 sales growth of 64.3% year-on-year, to $104.19 million, beating the analyst consensus of $102.17 million. Comparable Restaurant Sales jumped 66.8% versus last year and 7.6% versus 2019.

benzinga.com

Ruth's Hospitality (RUTH) Beats Q3 Earnings Estimates

Ruth's Hospitality (RUTH) delivered earnings and revenue surprises of 53.85% and -0.26%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

zacks.com

Ruth's Hospitality Group, Inc. Reports Third Quarter 2021 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its third quarter ended September 26, 2021 and provided a business update. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of Ruth's Hospitality Group, Inc., commented, “Our third quarter results demonstrated our team's operational excellence in a challenging and dynamic environment. Our performance this quart

businesswire.com

Ruth’s Hospitality Group, Inc. Reports Third Quarter 2021 Financial Results

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Hospitality Group, Inc. (the “Company”) (Nasdaq: RUTH) today reported unaudited financial results for its third quarter ended September 26, 2021 and provided a business update. CEO Comments Cheryl Henry, President, Chief Executive Officer and Chairperson of the Board of Ruth’s Hospitality Group, Inc., commented, “Our third quarter results demonstrated our team’s operational excellence in a challenging and dynamic environment. Our performance this quarter also reminded us of how sought after and trusted the Ruth’s Chris brand experience is.” Henry added, “Although elevated beef costs continue to be a headwind, we are encouraged by our continued sales momentum, profitability and our financial strength. We have confidence that we can continue to create value for shareholders as the virus abates and the economy recovers.” Third Quarter 2021 Financial Highlights (1) Restaurant sales in the third quarter of 2021 were $97.5 million compared to $58.6 million in the third quarter of 2020. By period, third quarter comparable restaurant sales and average weekly sales for Company-owned restaurants were as follows: (dollar amounts in thousands) July August September Q3 2021 Comparable Restaurant Sales vs. 2020 102.4% 62.2% 39.2% 66.8% Comparable Restaurant Sales vs. 2019 16.3% 1.9% 3.3% 7.6% Average Weekly Sales (all restaurants)(2) $104.5 $102.4 $101.0 $102.8 Third quarter comparable restaurant sales compared to 2019 would have increased 14.6% absent the impact of three markets (Boston, Hawaii and Manhattan), which continued to be challenged by local restrictions and market conditions during the third quarter of 2021. Franchise income in the third quarter of 2021 was $4.7 million compared to $3.5 million in the third quarter of 2020. Third quarter 2021 comparable restaurant sales at franchisee-owned restaurants increased 35.6% compared to 2020 and 19.5% compared to the third quarter of 2019. Food and beverage costs, as a percentage of restaurant sales, increased 710 basis points to 34.2% compared to the third quarter of 2020. Total beef costs increased 65% compared to the third quarter of 2020 and 47% compared to the third quarter of 2019. Operating income in the third quarter was $9.0 million compared to an operating loss of $5.1 million in the third quarter of 2020 and operating income of $5.6 million in the third quarter of 2019. As a percentage of total revenues, operating income in the third quarter of 2021 increased to 8.7% compared to 5.4% in the third quarter of 2019. Net income in the third quarter of 2021 was $6.9 million, or $0.20 per diluted share, compared to net loss of $5.3 million, or ($0.15) per diluted share, in the third quarter of 2020. - Net income in the third quarter of 2021 included a $16 thousand employee retention payroll tax credit, which reduced restaurant operating expenses and a $29 thousand income tax expense related to the impact of discrete income tax items. Net loss in the third quarter of 2020 included $1.2 million in severance costs and accelerated stock compensation expense, $310 thousand in losses related to lease modifications, a $3.3 million impairment loss and a $217 thousand income tax expense related to the impact of discrete income tax items. - Excluding these items, non-GAAP diluted earnings per common share was $0.20 in the third quarter of 2021, compared to a non-GAAP diluted loss per share of ($0.04) in the third quarter of 2020. The Company believes that non-GAAP diluted earnings (loss) per common share provides a useful alternative measure of financial performance to improve comparability of diluted earnings per common share between periods. Investors are advised to see the attached Reconciliation of Non-GAAP Financial Measure table for additional information. (1) In order to assist with the review of our quarterly results, we have provided an additional comparison to the same period in 2019 for some of our financial measures as many of the 2020 financial measures were impacted by COVID-related restaurant closures. (2) Average Weekly Sales is an average of restaurant sales for all Company-owned restaurants. Business and Development Update Quarter to date through October 24, 2021, Company-owned comparable restaurant sales increased 3.2% compared to 2019, and average weekly sales were $107.0 thousand. We opened two new restaurants in September 2021, including a Company-owned restaurant in Short Hills, NJ and a franchisee-owned restaurant in Manila, Philippines. We expect to open a total of six additional new Company-owned or managed restaurants by the end of 2022: one new restaurant in 2021 and five new restaurants in 2022. We expect to open two additional new franchisee-owned restaurants by the end of 2022. During the third quarter of 2021, the Company repurchased 192 thousand shares of common stock under its share repurchase program for approximately $3.8 million, or an average price of $19.93 per share. On October 18, 2021, the Company entered into an amended and restated credit agreement with a new five-year term that amended and restated its existing credit facility. The amended and restated credit agreement provides a $140.0 million revolving line of credit and, subject to the satisfaction of certain conditions and lender consent, may be increased up to a maximum of $200.0 million. The new credit facility bears interest between 1.50% to 2.25% over LIBOR, depending upon the Company's consolidated leverage ratio, and also provides additional flexibility on capital expenditures, dividends and share repurchases. As of October 27, 2021, the Company’s cash balance was approximately $84.6 million, with $70.0 million of debt outstanding under its amended and restated credit agreement and $4.7 million of outstanding letters of credit. Financial Outlook Based on current information and its most recent projections, Ruth’s Hospitality Group, Inc. is providing its updated full year 2021 outlook for the following operating measures based on a 52-week year ending December 26, 2021: Restaurant labor efficiency of approximately 300 basis points compared to 2019 Marketing and advertising costs of $13 million to $14 million General and administrative expenses of $32 million to $33 million Effective income tax rate of 17% to 19% The foregoing statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer you to the “Cautionary Note Regarding Forward-Looking Statements” section in this earnings press release and to our recent filings with the Securities and Exchange Commission for more detailed discussions of the risks that could impact our financial outlook and our future operating results and financial condition. Conference Call The Company will host a conference call to discuss third quarter 2021 financial results today at 8:30 AM Eastern Time. Hosting the call will be Cheryl J. Henry, President, Chief Executive Officer and Chairperson of the Board, and Kristy Chipman, Chief Financial Officer. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13723829. The replay will be available until Friday, November 5, 2021. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group, Inc. Ruth’s Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with over 140 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties. Forward-looking statements frequently are identified by the words “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “targeting,” “will be,” “will continue,” “will likely result,” or other similar words and phrases. Similarly, statements herein that describe the Company’s objectives, plans or goals, including with respect to restaurant openings and acquisitions or closures, capital expenditures, strategy, financial outlook, cash flows, our effective tax rate and the impact of recent accounting pronouncements, also are forward-looking statements. Actual results could differ materially from those projected, implied or anticipated by the Company’s forward-looking statements. Some of the factors that could cause actual results to differ include: the negative impact the COVID-19 pandemic has had and will continue to have on our business, financial condition, results of operations and cash flows; reductions in the availability of, or increases in the cost of, USDA Prime grade beef, fish and other food items; changes in economic conditions and general trends; the loss of key management personnel; the effect of market volatility on the Company’s stock price; health concerns about beef or other food products; the effect of competition in the restaurant industry; changes in consumer preferences or discretionary spending; labor shortages or increases in labor costs; the impact of federal, state or local government regulations relating to income taxes, unclaimed property, Company employees, the sale or preparation of food, the sale of alcoholic beverages and the opening of new restaurants; political conditions, civil unrest or other developments and risks in the markets where the Company’s restaurants are located; harmful actions taken by the Company’s franchisees; the inability to successfully integrate franchisee acquisitions into the Company’s business operations; economic, regulatory and other limitations on the Company’s ability to pursue new restaurant openings and other organic growth opportunities; a material failure, interruption or security breach of the Company’s information technology network; the Company’s indemnification obligations in connection with its sale of the Mitchell’s Restaurants; the Company’s ability to protect its name and logo and other proprietary information; an impairment in the financial statement carrying value of our goodwill, other intangible assets or property; gains or losses on lease modifications; the impact of litigation; the restrictions imposed by the Company’s credit agreement; changes in, or the suspension or discontinuation of, the Company’s quarterly cash dividend payments or share repurchase program; and the inability to secure additional financing on terms acceptable to the Company. For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 27, 2020, and the Company’s other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. You should not assume that material events subsequent to the date of this press release have not occurred. Unless the context otherwise indicates, all references in this report to the “Company,” “Ruth’s,” “we,” “us”, “our” or similar words are to Ruth’s Hospitality Group, Inc. and its subsidiaries. Ruth’s Hospitality Group, Inc. is a Delaware corporation formerly known as Ruth’s Chris Steak House, Inc., and was founded in 1965. 13 Weeks Ended 39 Weeks Ended September 26, September 27, September 26, September 27, 2021 2020 2021 2020 $ 97,537 $ 58,594 $ 283,339 $ 188,611 4,742 3,511 13,062 8,094 1,908 1,318 5,980 3,671 104,187 63,423 302,381 200,376 33,401 15,908 87,929 54,563 46,030 34,868 129,013 117,224 2,436 889 7,661 5,285 7,721 7,572 23,691 22,668 4,985 5,316 15,131 16,660 581 403 1,185 1,185 — 310 — (178 ) — 3,272 394 16,253 95,154 68,538 265,004 233,660 9,033 (5,115 ) 37,377 (33,284 ) (678 ) (1,422 ) (3,109 ) (3,341 ) (18 ) (48 ) 61 (12 ) 8,337 (6,585 ) 34,329 (36,637 ) 1,398 (1,284 ) 5,854 (9,920 ) $ 6,939 $ (5,301 ) $ 28,475 $ (26,717 ) $ 0.20 $ (0.15 ) $ 0.83 $ (0.87 ) $ 0.20 $ (0.15 ) $ 0.82 $ (0.87 ) 34,421,570 34,240,318 34,367,518 30,826,304 34,592,930 34,240,318 34,606,611 30,826,304 $ — $ — $ — $ 0.15 13 Weeks Ended 39 Weeks Ended September 26, September 27, September 26, September 27, 2021 2020 2021 2020 $ 6,939 $ (5,301 ) $ 28,475 $ (26,717 ) 1,398 (1,284 ) 5,854 (9,920 ) 8,337 (6,585 ) 34,329 (36,637 ) (16 ) — (381 ) — — 1,172 445 1,502 — 310 — (178 ) — 3,272 394 16,253 8,321 (1,831 ) 34,787 (19,060 ) (1,394 ) 89 (5,969 ) 5,502 29 217 (145 ) 313 $ 6,956 $ (1,525 ) $ 28,673 $ (13,245 ) $ 0.20 $ (0.15 ) $ 0.82 $ (0.87 ) $ 0.20 $ (0.04 ) $ 0.83 $ (0.43 ) 34,592,930 34,240,318 34,606,611 30,826,304

businesswire.com

Ruth's Hospitality (RUTH) Reports Next Week: Wall Street Expects Earnings Growth

Ruth's Hospitality (RUTH) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

zacks.com

7 Restaurant Stocks to Close Out Your Tab On as Economic Woes Return

With the impact of the Covid-19 crisis forcing many to reassess their work situation, these restaurant stocks may be courting trouble. The post 7 Restaurant Stocks to Close Out Your Tab On as Economic Woes Return appeared first on InvestorPlace.

investorplace.com

‘Tis the Season: Ruth’s Chris Steak House Unveils Holiday Offerings

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth’s Chris Steak House, known for its unmatched dining experience and steaks served on 500-degree sizzling plates, today announced its holiday offerings available soon in-restaurant or for pick-up at more than 150 locations nationwide. Enjoy the Holidays at Ruth’s Table Ruth’s Chris’ in-restaurant menu for Thanksgiving encompasses the following: Traditional Thanksgiving Dinner Single portion inclusive of the below; exclusively available in-restaurant on Nov. 25. Starter: Choice of Caesar Salad, Steak House Salad or Lobster Bisque Entrée: Sliced Oven Roasted Turkey, Ruth’s Sausage and Herb Stuffing, Homemade Turkey Gravy and Cranberry Relish Side: Choice of Garlic Mashed Potatoes, Creamed Spinach, Sweet Potato Casserole, or Green Beans with Roasted Garlic Dessert: Chef’s Selection Plus, each purchase includes leftovers to take home. Starter: Choice of Caesar Salad, Steak House Salad or Lobster Bisque Entrée: Sliced Oven Roasted Turkey, Ruth’s Sausage and Herb Stuffing, Homemade Turkey Gravy and Cranberry Relish Side: Choice of Garlic Mashed Potatoes, Creamed Spinach, Sweet Potato Casserole, or Green Beans with Roasted Garlic Dessert: Chef’s Selection Plus, each purchase includes leftovers to take home. The full dinner menu will also be available on Thanksgiving, Christmas Eve, Christmas Day and New Year’s Eve. Guests can make a reservation at ruthschris.com/reservation. Celebrate at Home with Ruth’s Anywhere For those who prefer to dine at home, indulging in Ruth’s Chris has never been easier with Ruth’s Anywhere. The following full-course meals and seasonal sides are available for pick-up: Ruth’s Thanksgiving at Your Table Pre-order from Oct. 25 – Nov. 22; available for pick-up on Nov. 24. Starter: Choice of Caesar or Steak House Salad Entrée: Sliced Oven Roasted Turkey, Ruth’s Sausage and Herb Stuffing, Homemade Turkey Gravy and Cranberry Relish Side: Choice of Sweet Potato Casserole, Potatoes Au Gratin, Creamed Spinach or Green Beans with Roasted Garlic Dessert: Chocolate Sin Cake Starter: Choice of Caesar or Steak House Salad Entrée: Sliced Oven Roasted Turkey, Ruth’s Sausage and Herb Stuffing, Homemade Turkey Gravy and Cranberry Relish Side: Choice of Sweet Potato Casserole, Potatoes Au Gratin, Creamed Spinach or Green Beans with Roasted Garlic Dessert: Chocolate Sin Cake Thanksgiving Sides at Home For those who want to make their own turkey, but can’t resist Ruth’s signature holiday dishes, enjoy Thanksgiving Sides at Home as a complement to your home-cooked turkey. Pre-order from Oct. 25 – Nov. 23; available for pick-up Nov. 24 – 25. Ruth’s Sausage and Herb Stuffing Homemade Gravy Cranberry Relish Four Chocolate Sin Cakes Choice of Caesar or Steak House Salad Choice of Sweet Potato Casserole, Potatoes Au Gratin, Creamed Spinach or Green Beans with Roasted Garlic Ruth’s Sausage and Herb Stuffing Homemade Gravy Cranberry Relish Four Chocolate Sin Cakes Choice of Caesar or Steak House Salad Choice of Sweet Potato Casserole, Potatoes Au Gratin, Creamed Spinach or Green Beans with Roasted Garlic Holiday Sides To-Go Ruth’s traditional guest-favorite holiday sides are available to enjoy at home throughout the holiday season, available in medium (serves four – six) and large (serves 12) sizes. Pre-order beginning Nov. 15; available for pick-up from Nov. 17 – Jan. 2. Caesar Salad Steak House Salad Sweet Potato Casserole Potatoes Au Gratin Creamed Spinach Green Beans with Roasted Garlic (available through Nov. 25 only) Sausage & Herb Stuffing (available through Nov. 25 only) Caesar Salad Steak House Salad Sweet Potato Casserole Potatoes Au Gratin Creamed Spinach Green Beans with Roasted Garlic (available through Nov. 25 only) Sausage & Herb Stuffing (available through Nov. 25 only) Celebration Feast (serves four) Pre-order beginning Dec. 6; available for pick-up through Jan. 2. Starter: Choice of Caesar or Steak House Salad Entrée: Roasted Beef Tenderloin with Horseradish Cream Side: Choice of Garlic Mashed Potato or Creamed Spinach Dessert: Chocolate Sin Cake Starter: Choice of Caesar or Steak House Salad Entrée: Roasted Beef Tenderloin with Horseradish Cream Side: Choice of Garlic Mashed Potato or Creamed Spinach Dessert: Chocolate Sin Cake Visit order.ruthschris.com to place an order. Cheers to the Season with Featured Spirits In addition to Ruth’s Chris being open for Thanksgiving, Christmas Eve, Christmas Day and New Year’s Eve, the restaurant will feature hand-crafted cocktails and special wines available starting Nov. 15, which include: Artful Old Fashioned: Features limited-released Basil Hayden’s toast bourbon, Grand Marnier, demerara & bitters Silver Oak Cabernet Sauvignon (Alexander Valley, Calif.): Features notes of ripe plum, toffee, red currant & cardamom Available by the glass Available by the glass Domaine Carneros Brut (Carneros, Calif.): Features an array of citrus and tropical fruits with hints of toastiness Available by the bottle Available by the bottle Give the Gift of Ruth’s Ruth’s Chris also has a special holiday gift card promotion available Nov. 1 through Dec. 21, allowing fans to gift the taste of Ruth’s Chris. Customers will receive a $40 bonus* with every purchase of a $200 Ruth’s Chris gift card. The offer is available for both e-card and physical card purchases, and gift cards are valid for redemption between Jan. 1 – March 31, 2022**. Visit ruthschris.com/giftcards to order. “This upcoming holiday season is such an important time to reconnect with family and friends, and Ruth’s Chris makes it possible to enjoy time together, whether that’s around our table, in our restaurants or from the comfort of your own home,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. For more information on Ruth’s Chris holiday offerings, please visit RuthsChris.com. *All $200 must be purchased in a single transaction to qualify for the bonus. Bonus cards cannot be redeemed on the same day of purchase. Bonus cards valid 1/1/22-3/31/22. Not valid on prior purchases. Bonus card usage cannot be combined with other offers, promotions, discounts or coupons. **Card valid through dates listed and cannot be extended, except where required by law. Present this card for purchases at any participating Ruth’s Chris Steak House. This is a promotional card issued for no consideration. Not redeemable for cash in any state unless required by law. Not a credit or debit card. Not reloadable. Card cannot be replaced if lost, stolen or expired. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel more than 55 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling USDA Prime Steaks, to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how celebrating more is done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

Ruth’s Hospitality Group, Inc. to Announce Third Quarter 2021 Financial Results on October 29, 2021

WINTER PARK, Fla.--(BUSINESS WIRE)--Ruth's Hospitality Group, Inc. (Nasdaq: RUTH) today announced that it will host a conference call to discuss third quarter 2021 financial results on Friday, October 29, 2021 at 8:30 AM Eastern Time. A press release with third quarter 2021 financial results will be issued at approximately 7:00 AM Eastern Time that same day. The conference call can be accessed live over the phone by dialing 201-689-8470. A replay will be available one hour after the call and can be accessed by dialing 412-317-6671; the password is 13723829. The replay will be available until Friday, November 5, 2021. The call will also be webcast live from the Company's website at www.rhgi.com under the Investor Relations section. About Ruth’s Hospitality Group Ruth's Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with over 140 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com.

businesswire.com

Ruth's Hospitality Group, Inc. to Announce Third Quarter 2021 Financial Results on October 29, 2021

businesswire.com

Ruth’s Chris Steak House Opens First Location in Short Hills, New Jersey

SHORT HILLS, N.J.--(BUSINESS WIRE)--Ruth’s Chris Steak House, known for its unmatched dining experience and steaks served on 500-degree sizzling plates, announces its newest location in Short Hills, which is now open for business. The new restaurant is located at The Mall at Short Hills (1200 Morris Turnpike) in the Lower Level near Neiman Marcus. Ruth’s Chris brings its exquisite fare and exclusive dining experience to the area in its new 8,300-square-foot restaurant. The new space features two main dining rooms, an expansive bar with lounge seating and two private dining rooms designed for large groups. The elevated décor, inspired by the area’s high-end fashion, and inviting atmosphere create a unique space perfectly suited to accommodate any occasion, including business meetings, family celebrations and milestones and more. Ruth’s Chris has been in business for more than 56 years, and its new Short Hills location is its 150th restaurant. As part of the pre-opening celebration, Ruth’s Chris hosted a special dinner with community leaders, business owners and Ruth’s Chris executives, while raising money for the restaurant’s local charity partner and leading anti-hunger organization in the state – Community FoodBank of New Jersey. Through Oct. 27, guests can increase Ruth’s Chris’ donation made to the Community FoodBank of New Jersey; upon receiving their check, guests will also receive a gold doubloon they can drop into a vessel by the hostess stand, representing the additional contribution the restaurant will make on their behalf. “The Mall at Short Hills is a major shopping and entertainment destination for so many in the region, and we are honored to host the local community in the months and years to come in a way that only Ruth’s Chris can,” said Michael Krywucki, general manager for Ruth’s Chris in Short Hills. “Our newest location is a place to gather for all of life’s celebrations, no matter how large or small, while serving as the perfect place for an intimate date night or happy hour with friends.” “We are delighted to be opening our newest New Jersey location, and we look forward to welcoming our guests to enjoy a world-class steak house experience,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. At Ruth's Chris, the last bite is just as good as the first. The company’s perfected broiling method and seasoning techniques ensure each cut of USDA Prime beef arrives cooked to perfection and sizzling on a 500-degree plate – just the way Ruth’s Chris founder Ruth Fertel liked it. Representing the highest-quality beef, these cuts are well marbled and hand-selected for thickness and tenderness. Ruth only served her guests the finest, and that’s why Ruth’s Chris serves custom-aged USDA Prime beef. While Ruth’s Chris’ USDA Prime steaks and their signature sizzle may have put the restaurant on the map, guests can also enjoy fresh seafood, scratch-made side dishes and desserts, craft cocktails and choice wines, served with the sort of hospitality that would make its namesake proud. For more information and hours of operation, please visit RuthsChris.com/restaurant-locations/short-hills/ or call 973-293-5034. About Ruth’s Chris Steak House Ruth's Chris Steak House was founded by Ruth Fertel more than 55 years ago in New Orleans, Louisiana. Ruth had a recipe for everything – from how to prepare her signature sizzling steaks to how to treat her guests. This timeless formula is a testament to how one neighborhood eatery has become the largest collection of upscale steak houses in the world, with more than 150 restaurant locations around the globe. Ruth's Chris remains true to its heritage, helping guests make their best memories on 500-degree sizzling plates. Ruth's Chris Steak House. This is how celebrating more is done. For more information, visit RuthsChris.com, or find us on Facebook and Instagram.

businesswire.com

Ruth’s Chris Steak House to Open as Signature Steakhouse at Soaring Eagle Resort and Casino in Mount Pleasant, Michigan

MOUNT PLEASANT, Mich.--(BUSINESS WIRE)--Ruth’s Chris Steak House is bringing its timeless American steak house food and signature “sizzle” to Soaring Eagle Resort and Casino in Mount Pleasant, Michigan. The restaurant will become the signature steakhouse for the Resort, and the brand’s fourth location in Michigan. “At Ruth’s Chris, we are dedicated to providing a comfortable, inviting and memorable experience to all of our guests,” said Cheryl Henry, President and Chief Executive Officer of Ruth’s Hospitality Group, Inc. “We look forward to serving those enjoying a visit to the Soaring Eagle Resort and Casino.” Mike Bean, CEO of the Saginaw Chippewa Gaming Enterprises, said: “We are pleased to partner with Ruth’s Chris to bring this outstanding brand to Soaring Eagle. We look forward to offering the great Ruth’s Chris experience to our valued guests.” “We are looking forward to welcoming Ruth’s Chris to our Soaring Eagle property. Thank you to the Soaring Eagle and Ruth’s Chris teams for making this vision a reality,” said Tim Davis, Saginaw Chippewa Tribal Chief. Ruth’s Chris specializes in custom-aged USDA Prime steaks expertly prepared and served on 500-degree sizzling hot plates. Made-from-scratch sides are prepared from Ruth’s original recipes and are perfectly portioned to share. Guests can also choose from a variety of seafood options, soups, salads and decadent desserts all sourced from the freshest ingredients available. In addition to its indulgent menu, Ruth’s Chris offers an award-winning spirits program with a wine list that features over 200 labels, premium wines by the glass and hand-crafted cocktails. About Ruth’s Hospitality Group Ruth's Hospitality Group, Inc., headquartered in Winter Park, Florida, is the largest fine dining steakhouse company in the U.S. as measured by the total number of Company-owned and franchisee-owned restaurants, with over 140 Ruth’s Chris Steak House locations worldwide specializing in USDA Prime grade steaks served in Ruth’s Chris’ signature fashion – “sizzling.” For information about our restaurants or to purchase gift cards, please visit www.RuthsChris.com. For more information about Ruth’s Hospitality Group, Inc., please visit www.rhgi.com. About Soaring Eagle Casino & Resort: Soaring Eagle Casino & Resort of Mt. Pleasant, Michigan is owned and operated by the Saginaw Chippewa Indian Tribe. The resort offers 516 newly renovated luxurious guest rooms, full service spa & salon, a large indoor pool adorned with a half million Italian glass tiles, along with an all-season outdoor Jacuzzi. The resort caters to numerous corporate event planners with 70,000 sq. ft multi-purpose convention and meeting space. The vast casino floor has more than 3,000 slot machines, just over 70 table games, newly designed poker room, and a high stakes gaming & VIP lounge. Soaring Eagle presents over 45 superstar performances each year in their state of the art indoor entertainment hall and impressive 13,000 seat outdoor amphitheater. Soaring Eagle Casino & Resort currently features five dining options, such as Siniikaung Steak & Chop house, Legends Diner, ASCEND Sports Bar & Lounge, Central Deli & Slice Pizza, and Little Eagle Café. Soaring Eagle is also well known for their family oriented environment allowing young guests an opportunity to enjoy a visit in the Cyber Quest arcade or Kids Quest, which provides a supervised entertainment experience for children six weeks to 12 years old. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of applicable U.S. securities laws that reflect Ruth's Hospitality Group, Inc.’s expectations or beliefs concerning the completion and success of the above referenced transaction that involve risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those addressed in the forward-looking statements including but not limited to obtaining required regulatory approvals, completing construction of the restaurant facility and profitable operation of the restaurant. Readers are cautioned not to place undue reliance on any such forward-looking statements.

businesswire.com