Ruth’s 4Q profits rise on higher sales, lower costs

Ruth’s 4Q profits rise on higher sales, lower costs

Beef costs ease for steak chain and are expected to fall again in 2016

Higher sales plus lower beef costs equaled a profitable quarter for Ruth’s Hospitality Group Inc. The company said on Friday that its fourth quarter net income increased nearly 19 percent in the period ended Dec. 27.

Ruth’s Hospitality Group said its net income was $9.5 million, or 28 cents per share, up from $8 million, or 23 cents, in the same period a year ago.

Same-store sales at the Winter Park, Fla.-based Ruth’s Chris Steak House chain increased 3.2 percent in th

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