Note D - Discontinued Operations

6 Months Ended

Dec. 03, 2013

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE D – DISCONTINUED OPERATIONS

In an effort to focus primarily on the successful sales turnaround of our core Ruby Tuesday concept and secondly, to improve the financial performance of our Lime Fresh concept, we closed all 13 Marlin & Ray’s restaurants, the Company’s one Wok Hay restaurant, and our two Truffles restaurants during fiscal 2013. We have classified the results of operations of our Company-owned Marlin & Ray’s, Wok Hay, and Truffles concepts as discontinued operations for all periods presented. The results of operations of our discontinued operations are as follows (in thousands):

	Thirteen weeks ended					Twenty-six weeks ended
	December 3, 2013		December 4, 2012			December 3, 2013			December 4, 2012
Restaurant sales and operating revenue	$	–	$	4,156		$	–		$	9,154
Gain/(loss) before income taxes	$	453	$	(17,919	)	$	(75	)	$	(18,767	)
Provision/(benefit) for income taxes		99		(7,055	)		(86	)		(7,428	)
Gain/(loss) from discontinued operations	$	354	$	(10,864	)	$	11		$	(11,339	)

As of December 3, 2013 and June 4, 2013, we had $0.8 million and $2.8 million, respectively, of assets associated with the closed concept restaurants, which are included in Property and equipment, net in our Condensed Consolidated Balance Sheets. Additionally, included within Assets held for sale in our December 3, 2013 and June 4, 2013 Condensed Consolidated Balance Sheet are $1.3 million and $4.2 million, respectively, of assets associated with the closed concept restaurants. See Note I to the Condensed Consolidated Financial Statements for a discussion of closed restaurant lease reserves as of December 3, 2013 and June 4, 2013 associated with the closed concept restaurants.