'Underperforming' Ruby Tuesday location in ArkLaTex closes its doors
SHREVEPORT, LA (KSLA) - Ruby Tuesday in Bossier City closed its doors Monday morning, one week after the company announced plans to shutter 95 restaurants across the country.
On Monday morning, a sign on the front door read, "This Location Has Closed. Please visit us @ our Texarkana location...We look forward to seeing you there!"
Employees were reportedly informed of the restaurant's closure at an emergency meeting at 9 a.m. Monday.
The company announced on Aug. 11 that 95 store locations will close in September due to low performance.
The Texarkana location is the only other Ruby Tuesday in the ArkLaTex.
"Our fourth quarter was impacted by softness in the casual dining industry and increased promotional activity by our peers. Given that we expect the macro environment to remain challenging for some time, we are taking the necessary steps to change the trajectory of our business," said JJ Buettgen, chairman of the board, president, and chief executive officer.
Total revenue declined 5.9 percent to $279.3 million in the fourth quarter, and total revenue for fiscal 2016 declined 3.1% to $1.1 billion, the news release stated.
The company will offer current employees affected by the closures jobs at nearby restaurants where they are available.
There are 724 Ruby Tuesday locations in 44 U.S. states and Guam.
The restaurant's closures come in a week of retailers also announcing closures. Macy's also announced on Aug. 11 that is was closing 100 of its big-box stores by early 2017.
You can read the full fourth quarter report released by Ruby Tuesday by clicking here.
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