Ruby Tuesday’s profit plummets 48% in 1st Q

MARYVILLE Tenn. A month after acknowledging it had “underestimated the impact” of higher gas prices and general economic factors on consumer spending, Ruby Tuesday Inc. on Wednesday reported a 48.5-percent plunge in first-quarter profit from a year earlier. The results reflected negative same-store sales and the costs of a two-year remodeling initiative.

The operator or franchisor of 935 namesake casual-dining restaurants said it would attempt to firm up sales

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