Ryans Restaurant (NASDAQ:RYAN)
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GREER, S.C., Sept. 30 /PRNewswire-FirstCall/ -- Ryan's Restaurant Group, Inc. (NASDAQ:RYAN) today reported sales results for the 4-week period ("September") and the three-months ("3rd Quarter") ending September 28, 2005. Same-store sales decreased by 4.2% for the month and by 3.7% for the quarter. Other details follow:
(Unaudited)
September 3rd Quarter
2005 2005
Total sales (000's) $57,700 $202,900
Change from prior year -4% -1%
Average unit sales:
Same stores (open at least 18 mos.) -4.2% -3.7%
All stores (all Ryan's units) -3.0% -2.5%
Management noted that the third quarter's sales levels were impacted by Hurricanes Katrina and Rita, which resulted in closings of one day or more at 26 and 17 restaurants during the third quarter, respectively. A summary of the hurricanes' impact during the quarter follows:
Restaurants closed due 3rd Quarter 2005
to Hurricanes Katrina
and Rita:
For one day only 14
For more than one day 27
Total closed restaurant-days:
August 75
September 168
Total 243
The total closed restaurant-days represents approximately 0.8% and 1.8% of total available restaurant-days during the months of August and September, respectively. At September 28, 2005, there were 5 restaurants that remained closed due to hurricane-related issues.
At September 28, 2005, the Company owned and operated 343 restaurants, including the 5 closed restaurants noted above.
Financial results for the third quarter 2005 are expected to be released on October 19, 2005. In addition, the Company's next accounting period consists of 5 weeks, ending on November 2, 2005.
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 29, 2004.
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/