HEATHROW, Fla. (Jan. 5, 2009) Ruth’s Hospitality Group Inc. gave investors a glimmer of stabilization late Monday as its fourth-quarter preliminary report indicated a slowing in its same-store sales slide.
The parent of Ruth’s Chris Steak House said same-store sales at corporate units of the signature brand for the Dec. 27-ended quarter fell 11.2 percent, compared with an 18.7 percent decline in the same quarter of 2008. At market close Tuesday, Ruth’s shares were up a penny from the day earlier, or 0.41 percent, to $2.43. A day earlier the stock had spiked after an analyst said business spending may be increasing and help boost fine-dining sales.
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