Ruby Tuesday outlines turnaround plan

Ruby Tuesday outlines turnaround plan

After a steep drop in first-quarter net income, the casual-dining operator updates its growth strategy

Ruby Tuesday Inc. is counting on a conversion strategy and a deal to open Lime Fresh Mexican Grill units to drive sales in fiscal 2012, after reporting a first-quarter drop in net income and same-store sales Thursday.

For the first quarter ended Aug. 31, Ruby Tuesday’s net income dropped 75 percent and same-store sales at company-owned stores fell 4.1 percent.

On Wednesday, the Maryville, Tenn.-based

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