Ryans Restaurant (NASDAQ:RYAN)
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GREER, S.C., Aug. 7 /PRNewswire-FirstCall/ -- Ryan's Restaurant Group, Inc. (NASDAQ:RYAN) today reported sales results for the 5-week period ended August 2, 2006 ("July"). Average weekly sales decreased by 3.4% in July, and same-store sales decreased by 4.2% for the same period. Other details and comments follow:
(Unaudited)
July
2006
Total sales (000's) $77,500
Change from prior year -7%
Average weekly sales (all Ryan's units) -3.4%
Same-store sales (open at least 18 mos.) -4.2%
Management believes that July's sales results were affected by the adverse impact of higher gasoline prices on the discretionary spending of its customer base.
At August 2, 2006, the Company owned and operated 333 restaurants.
The Company's next accounting period consists of 4 weeks, ending on August 30, 2006.
Forward-Looking Information: In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company cautions that the statements in this press release that are forward- looking involve risks and uncertainties that may impact the Company's actual results of operations. For a more thorough discussion of these risks, uncertainties and other factors, please refer to the Company's Annual Report on Form 10-K for the fiscal year ended December 28, 2005.
DATASOURCE: Ryan's Restaurant Group, Inc.
CONTACT: Fred T. Grant, Jr., Senior Vice President - Finance of Ryan's
Restaurant Group, Inc., +1-864-879-1000
Web site: http://www.ryansrg.com/