Current Report Filing (8-k)
June 23 2020 - 8:01AM
Edgar (US Regulatory)
false
Ruths Hospitality Group, Inc.
0001324272
0001324272
2020-06-23
2020-06-23
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 23, 2020
RUTH’S HOSPITALITY GROUP, INC.
(Exact name of Registrant as Specified in Its Charter)
|
Delaware
|
000-51485
|
72-1060618
|
|
(State or Other Jurisdiction
of Incorporation)
|
(Commission File Number)
|
(IRS Employer
Identification No.)
|
|
|
|
|
|
1030 W. Canton Avenue, Ste. 100
Winter Park, FL
|
|
32789
|
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Registrant’s Telephone Number, Including Area Code: (407) 333-7440
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
|
|
|
|
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
Common Stock, par value $0.01 per share
|
RUTH
|
Nasdaq
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure
Ruth’s Hospitality Group, Inc. will meet with investors at the Jefferies Virtual Consumer Conference on June 23, 2020. During these meetings, the Company plans to share the following information with investors and analysts.
|
|
•
|
During April 2020, the operating status of the restaurants was as follows:
|
|
|
o
|
Company-owned and managed restaurants - 56 operating take-out and delivery and 30 were closed;
|
|
|
o
|
Franchisee-owned restaurants - 14 dining rooms open, 28 operating take-out and delivery and 31were closed.
|
|
|
•
|
As of June 5, 2020, the operating status of the restaurants was as follows:
|
|
|
o
|
Company-owned and managed restaurants - 35 dining rooms open, 29 operating take-out and delivery only, and 22 were closed;
|
|
|
o
|
Franchisee-owned restaurants - 48 dining rooms open, 7 operating take-out and delivery only and 17 were closed.
|
|
|
•
|
As of June 21, 2020, the operating status of the restaurants was as follows:
|
|
|
o
|
Company-owned and managed restaurants - 50 dining rooms open, 18 operating take-out and delivery only, and 18 closed with plans to open an additional 10 – 15 dining rooms by the end of June;
|
|
|
o
|
Franchisee-owned restaurants - 62 dining rooms open, 3 operating take-out and delivery only and 7 closed.
|
|
|
•
|
The average weekly sales for Company-owned restaurants that were open in April 2020 was $19.3 thousand. In May 2020, the average weekly sales for Company-owned restaurants that were open was $30.6 thousand. Through June 21, 2020, the average weekly sales for Company-owned restaurants that were open during June was $59.3 thousand and includes the benefit of Father’s Day.
|
|
|
•
|
As of June 19, 2020, the Company had a cash balance of $96.7 million, a debt balance under its senior credit facility of $135.2 million and outstanding letters of credit of $4.6 million.
|
The information in this Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. The information in this Item 7.01 of this Current Report on Form 8-K shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
|
|
RUTH’S HOSPITALITY GROUP, INC.
|
|
|
|
|
|
|
Date: June 23, 2020
|
|
By:
|
/s/ Arne G. Haak
|
|
|
|
|
Arne G. Haak
|
|
|
|
|
Executive Vice President and Chief Financial Officer
|
Ruths Hospitality (NASDAQ:RUTH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ruths Hospitality (NASDAQ:RUTH)
Historical Stock Chart
From Apr 2023 to Apr 2024
