1st-Q conditions were unpleasant surprise, Ruby Tuesday says

MARYVILLE Tenn. Acknowledging that it “underestimated the impact” of gas prices, higher interest rates and heightened discounting by other casual-dining chains, Ruby Tuesday Inc. reported a 4.8-percent drop in same-store sales at domestic corporate locations for its fiscal 2008 first quarter ended Sept. 4. Same-store sales at domestic franchised locations fell by 2.9 percent for the quarter, the company also reported.

The negative sales led the company to

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