Can Ruth’s Chris Steak House Age With Grace?

Orlando Sentinel (Fla.):

Dinner at Ruth’s Chris Steak House is a big deal, featuring thick steaks and fine wine in a luxurious setting.

But tough times and shifting consumer habits have the Lake Mary-based chain thinking a little smaller these days.

As its parent company, Ruth’s Hospitality Group, struggles with plunging sales and heavy debt, it’s offering less-expensive food and may build scaled-back restaurants once the company can begin growing again.

Even so, company leaders know that they can’t lose too much of the elegance that has made Ruth’s one of fine dining’s most recognizable names.

Chief Executive Officer Michael O’Donnell talked about that delicate balancing act in an earnings conference call with analysts July31. It had been a rough quarter: Revenues fell 17.9percent to $88.4million, and profit dropped 15.6percent to $2.3million, compared with a year ago. Read more.

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