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Ruth's Chris Steak House Openings to Move Forward as Planned; Steak House Leader Continues Development Schedule in 2005
ORLANDO, Fla.--(BUSINESS WIRE)--Sept. 23, 2005--Ruth's Chris Steak House, Inc. (Nasdaq: RUTH) today announced that its scheduled opening of new restaurants for the remainder of 2005 will proceed as scheduled. The fine-dining restaurant group will open company-owned locations in Sacramento, CA and Boston, MA, as well as one franchise-owned location in Charlotte, NC by the end of the year.
"Recognizing the unique character and strong demographics of each of these great markets, we are thrilled that they will be home to the newest members of the Ruth's Chris Steak House family," said Craig Miller, Ruth's Chris Steak House CEO.
The Sacramento Ruth's Chris Steak House, scheduled to open in November in the Pavilion on Fair Oaks Boulevard, will be the second location to open in the Sacramento area this year. Ruth's Chris Steak House Roseville opened on September 5, 2005.
Boston's historic Old Boston City Hall at 45 School Street will be home to a Ruth's Chris Steak House set to open in mid-October, only blocks from the Massachusetts State House and Boston financial district.
Charlotte, North Carolina will welcome a new Ruth's Chris franchised location, scheduled to open in October at 6000 Fairview Road in the South Park area.
Miller concluded, "Despite the devastation of Hurricane Katrina, we have quickly relocated and kept pace with our development schedule for 2005. All of our restaurants, with the exception of two in New Orleans, have been fully functional throughout this period and we're happy to report that our system suffered minimal disruption. Looking to 2006, we maintain our goal of opening six to eight new company-owned locations and five to seven franchised restaurants in key markets. As we execute this plan, we are confident that we will deliver for shareholders over the long run."
The restaurant group recently completed initial real estate signings for an Anaheim, CA, location, with the specific opening timeframe and other details to be announced.
About Ruth's Chris Steak House
Founded in New Orleans, Ruth's Chris Steak House, Inc. is one of the largest upscale steak house companies in the U.S., as measured by the total number of company-owned and franchise-owned restaurants, with 88 locations worldwide (two of which are currently closed as a result of Hurricane Katrina). Founded in 1965 by Ruth Fertel, Ruth's Chris specializes in USDA Prime grade steaks served in Ruth's Chris signature fashion - "sizzling." Information about Ruth's Chris is available at www.ruthschris.com.
Forward looking statements
Some of the statements in this release that are not historical facts, including, without limitation, those relating to our anticipated financial performance and expected store openings for 2005 and 2006, are forward-looking statements that involve risks and uncertainties. These statements are based upon our current beliefs and expectations. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, our ability to open restaurants at new locations, the sales at these and our other company-owned and franchised locations, our ability to successfully operate in new markets, the cost of beef, the success of our marketing initiatives, our ability to control other restaurant operating costs and other factors disclosed from time to time in our filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). Investors should take these risks into account when making investment decisions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update any forward-looking statements.
CONTACT: Deveney Communication Kara Kortman, 504-722-4144 email@example.com or Ruth's Chris Steak House Lanette Jarvis, 407-772-1425 firstname.lastname@example.org or ICR, Investor Relations Tom Ryan, 203-682-8200 email@example.com SOURCE: Ruth's Chris Steak House, Inc.