Note M - Segment Reporting

9 Months Ended

Mar. 04, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE M – SEGMENT REPORTING

Our President and Chief Executive Officer, who is our chief operating decision maker, with the assistance of our senior management, reviews discrete financial information for both the Ruby Tuesday and Lime Fresh restaurant concepts to assess performance and allocate resources. We consider the Ruby Tuesday and Lime Fresh concepts to be our reportable segments as we do not believe they have similar economic and other characteristics to be aggregated into a single reportable segment. Financial results by reportable segment for the 13 and 39 weeks ended March 4, 2014 and March 5, 2013 are as follows (in thousands):

	Thirteen weeks ended					Thirty-nine weeks ended
	March 4, 2014		March 5, 2013			March 4, 2014			March 5, 2013
Revenues:
Ruby Tuesday concept	$	290,752	$	303,662		$	845,514		$	923,586
Lime Fresh concept		4,800		3,721			15,921			11,797
Total revenues	$	295,552	$	307,383		$	861,435		$	935,383
Segment profit/(loss):
Ruby Tuesday concept	$	24,139	$	31,305		$	34,860		$	77,878
Lime Fresh concept		1		(1,441	)		(4,236	)		(3,792	)
Total segment profit	$	24,140	$	29,864		$	30,624		$	74,086
Depreciation and amortization:
Ruby Tuesday concept	$	12,840	$	14,314		$	40,088		$	43,455
Lime Fresh concept		473		576			1,517			1,671
Support center and other		599		585			1,779			1,728
Total depreciation and amortization	$	13,912	$	15,475		$	43,384		$	46,854
Capital expenditures:
Ruby Tuesday concept						$	18,744		$	18,271
Lime Fresh concept							2,793			5,548
Support center and other							1,020			3,914
Total capital expenditures						$	22,557		$	27,733

Total assets by reportable segment as of December 3, 2013 and June 4, 2013 are as follows (in thousands):

	March 4, 2014		June 4, 2013
Total assets:
Ruby Tuesday concept	$	836,575	$	893,750
Lime Fresh concept		17,725		18,943
Support center and other		115,088		130,490
Total assets	$	969,388	$	1,043,183

The following is a reconciliation of segment profit to (loss)/income from continuing operations before taxes for the 13 and 39 weeks ended March 4, 2014 and March 5, 2013 (in thousands):

	Thirteen weeks ended						Thirty-nine weeks ended
	March 4, 2014			March 5, 2013			March 4, 2014			March 5, 2013
Segment profit	$	24,140		$	29,864		$	30,624		$	74,086
Less:
Depreciation and amortization		(13,912	)		(15,475	)		(43,384	)		(46,854	)
Unallocated selling, general and administrative expenses		(11,551	)		(4,440	)		(37,208	)		(12,691	)
Preopening expenses	–				(237	)		(395	)		(636	)
Trademark impairment		(855	)	–				(855	)	–
Interest expense, net		(5,967	)		(6,591	)		(19,340	)		(20,146	)
Other expense, net		(55	)		(420	)		(1,341	)		(807	)
(Loss)/income from continuing operations before income taxes	$	(8,200	)	$	2,701		$	(71,899	)	$	(7,048	)