HOUSTON, March 17, 2020 /PRNewswire/ -- Luby's, Inc.
(NYSE: LUB) ("The Company") announced today that, as a result of
the COVID-19 outbreak, it has temporarily suspended on-premise
dining at certain Luby's Cafeterias and Fuddruckers restaurants,
including those located in the Houston,
Texas and Dallas, Texas
markets to comply with applicable local requirements. In addition,
certain Fuddruckers restaurants have temporarily suspended
on-premise dining and others will suspend on-premise dining in
markets where required. In Illinois, two company-owned Fuddruckers
restaurants have suspended all operations in accordance with local
requirements. The Company will continue to monitor requirements
related to COVID-19, and it will periodically re-evaluate and
determine when its dining rooms and restaurants will reopen.
The safety, health and well-being of our guests and employees
are our highest priority, and we are working diligently throughout
our organization to ensure precautionary health measures for
everyone and we have taken important steps to elevate our focus
beyond our customary high standards of sanitation, cleaning and
employee hygiene. The Company is closely reviewing guidance from
the Centers for Disease and Control Prevention (CDC), as well as
local health authorities, to ensure that we are doing everything
possible to keep people safe.
Where permitted, both Luby's Cafeterias and certain Fuddruckers
restaurants will remain open for carry-out and drive-through
orders, as well as delivery via third-party services:
DoorDash.com / FavorDelivery.com / GrubHub /
UberEats.com and Waitr.
We are working closely with suppliers on contingency planning
for continuous supply and inventory management.
At this time, neither the duration nor scope of the disruption
can be predicted, therefore, the negative financial impact to our
results cannot be reasonably estimated. We will provide an update
during our Q2 FY2020 earnings announcement.
The United States federal
government and several state and local governments have declared a
State of Emergency and/or closed or partially closed all
restaurants. The situation is constantly changing, and we continue
to work with our local teams on the operational and business
impact.
Please visit our websites for updated information and
recommended guidelines as we continue to assess the situation over
the coming weeks and months: Lubys.com / Fuddruckers.com /
Lubysinc.com
About Luby's
Luby's, Inc. (NYSE: LUB) operates 119 restaurants nationally as
of December 18, 2019: 78 Luby's Cafeterias, 40 Fuddruckers,
one Cheeseburger in Paradise restaurants. Luby's is the franchisor
for 97 Fuddruckers franchise locations across the United States (including Puerto Rico), Canada, Mexico, Colombia, and Panama. Luby's Culinary Contract Services
provides food service management to 33 sites consisting of
healthcare, corporate dining locations, sports stadiums, and sales
through retail grocery stores.
This press release contains statements that are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements
contained in this press release, other than statements of
historical fact, are "forward-looking statements" for purposes of
these provisions, including the statements under the caption
"Outlook" and any other statements regarding scheduled openings of
units, scheduled closures of units, sales of assets, expected
proceeds from the sale of assets, expected levels of capital
expenditures, effects of food commodity costs, anticipated
financial results in future periods and expectations of industry
conditions.
Luby's cautions readers that various factors could cause its
actual financial and operational results to differ materially from
those indicated by forward-looking statements made from
time-to-time in news releases, reports, proxy statements,
registration statements, and other written communications, as well
as oral statements made from time to time by representatives of
Luby's. The following factors, as well as any other cautionary
language included in this press release, provide examples of risks,
uncertainties and events that may cause Luby's actual results to
differ materially from the expectations Luby's describes in such
forward-looking statements: general business and economic
conditions; the impact of competition; our operating initiatives;
fluctuations in the costs of commodities, including beef, poultry,
seafood, dairy, cheese and produce; increases in utility costs,
including the costs of natural gas and other energy supplies;
changes in the availability and cost of labor; the seasonality of
Luby's business; changes in governmental regulations, including
changes in minimum wages; the effects of inflation; the
availability of credit; unfavorable publicity relating to
operations, including publicity concerning food quality, illness or
other health concerns or labor relations; the continued service of
key management personnel; and other risks and uncertainties
disclosed in Luby's annual reports on Form 10-K and quarterly
reports on Form 10-Q.
For additional information contact:
Dennard Lascar Investor
Relations
Rick Black / Ken Dennard
Investor Relations
713-529-6600
View original
content:http://www.prnewswire.com/news-releases/lubys-provides-covid-19-update-301025732.html
SOURCE Luby's, Inc.