Ruby Tuesday Inc (RT) announced recently that it is expanding in Hawaii through franchised restaurants. Franchisee RT Hawaii Restaurants Inc. is planning to open three new restaurants in Hawaii, within the next three years with the first one expected to open in June 2011. The possible locations remain undisclosed.
Ted Davenport and Rick Nakashima, the two principal investors in the company, who will also invest in this venture, currently own and operate 4 Ruby Tuesday restaurants in Honolulu, Mililani and Kaneohe and with the opening of three additional restaurants in Hawaii, the total number of their owned restaurants will increase to 7.
Ruby Tuesday’s primary competitors in casual dining restaurant market include Buffalo Wild WingsInc. (BWLD) and Biglari Holdings Inc (BH). For both the stocks, we have a Zacks Rank of #1 (short-term Strong Buy recommendation). Buffalo Wild Wings also announced recently that it is planning to expand in Canada in the next 5 years.
Based in Maryville, Tennessee, Ruby Tuesday has company-owned and franchised restaurants in 46 states, the District of Columbia, Guam, and 14 foreign countries. The company is led by its founder Sandy Beall.
BIGLARI HOLDING (BH): Free Stock Analysis Report
BUFFALO WLD WNG (BWLD): Free Stock Analysis Report
RUBY TUESDAY (RT): Free Stock Analysis Report
Zacks Investment Research
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.