Ruby Tuesday, Inc. (NYSE: RI) announced that its franchisee in South Korea, Dong Seoul Corporation, opened the first Ruby Tuesday® restaurant in Ilsan May 4, 2001. Dong Seoul plans to open 4 Ruby Tuesday restaurants in South Korea.
The Company also announced that its franchisee in Puerto Rico, Goodbuy RT, Inc. opened its first restaurant March 6, 2001 in Caguas, Puerto Rico. Goodbuy RT plans to open three to five Ruby Tuesday restaurants in Puerto Rico, with the second location to open later this calendar year.
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There are currently twelve international franchised Ruby Tuesday restaurants open in Hong Kong, Taiwan, Chile, Honduras, Iceland, India, Puerto Rico, and South Korea. John Brisco, President and Partner of International Franchising for Ruby Tuesday, Inc. said, “We are excited about these new ventures and the opportunities they present for Ruby Tuesday.”
Ruby Tuesday, Inc. owns and operates over 350 Ruby Tuesday restaurants located in 26 states. Franchised operations include 157 domestic units and 12 international units. Ruby Tuesday, Inc. is traded on the New York Stock Exchange (Symbol: RI).
Special Note Regarding Forward-Looking Information
The foregoing information contains various “forward-looking statements” which represent the Company’s expectations or beliefs concerning future events, including future financial performance and unit growth (both Company- owned and franchised). The Company cautions that a number of important factors could, individually or in the aggregate, cause actual results to differ materially from those included in the forward-looking statements, including, without limitation, the following: consumer spending trends and habits; increased competition in the casual dining restaurant market; weather conditions in the regions in which Company-owned and franchised restaurants are operated; consumers’ acceptance of the Company’s development concepts; laws and regulations affecting labor and employee benefit costs; costs and availability of food and beverage inventory; the Company’s ability to attract qualified managers and franchisees; changes in the availability of capital; and general economic conditions.
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