Ryans Restaurant (NASDAQ:RYAN)
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Ryan's Restaurant Group, Inc. Reports Sales Results for March and
First Quarter 2005
GREER, S.C., April 4 /PRNewswire-FirstCall/ -- Ryan's Restaurant Group, Inc.
(NASDAQ:RYAN) today reported sales results for the 4-week period ("March") and
the three months ("1st Quarter") ending March 30, 2005. Same- store sales
decreased by 2.9% for the month and by 3.1% for the quarter. Other details
follow:
(Unaudited)
March 1st Quarter
2005 2005
Total sales (000's) $67,950 $209,650
Change from prior year 0% -1%
Average unit sales:
Same stores (open at least 18 mos.) -2.9% -3.1%
All stores (all Ryan's units) -2.8% -2.9%
Management noted that the financial results for the first quarter will be
adversely affected by not only the same-store sales results, but also by higher
cost of sales. In addition to the de-leveraging effect that negative
same-store sales has had on margins, cost of sales has been impacted by
significantly higher food, labor, medical, utility and maintenance costs and is
estimated to increase by approximately 3.0% to 3.5% of sales for the quarter.
At March 30, 2005, the Company owned and operated 344 restaurants.
Financial results for the first quarter 2005 are expected to be released on
April 20, 2005. In addition, the Company's next accounting period consists of
5 weeks, ending on May 4, 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
CONTACT: Fred T. Grant, Jr., Senior Vice President - Finance, of Ryan's
Restaurant Group, +1-864-879-1000
Web site: http://www.ryansrg.com/