8-K

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): January 23, 2001

RARE HOSPITALITY INTERNATIONAL, INC.

(Exact Name of Registrant as Specified in Charter)

Georgia	0-19924	58-1498312
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

8215 Roswell Rd; Bldg. 600; Atlanta, GA 30350

(Addresses of Principal Executive Offices, including Zip Code)

(770) 399-9595

(Registrant’s Telephone Number, including Area Code)

Item 5. Other Events.

      On January 23, 2001, RARE Hospitality International, Inc. (the “Company”) announced that it expects to report fourth quarter 2000 earnings that exceed analysts’ expectations for such period. A copy of the Company’s press release is filed as an exhibit to this Form 8-K.

Item 7. Financial Statements, Pro Forma Financial Information, and Exhibits.

      (c) Exhibits.

      The following exhibits are filed herewith:

Exhibit No.	Description
99.1	Press Release, dated January 23, 2001.

-2-

SIGNATURE

      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 hereunto duly authorized.

RARE HOSPITALITY INTERNATIONAL, INC.
By:	/s/ W. DOUGLAS BENN
	Name: W. Douglas Benn
	Title: Chief Financial Officer

Date: January 24, 2001

-3-

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press Release, dated January 23, 2001.

  EX-99.1 2 g66557ex99-1.txt PRESS RELEASE 1 EXHIBIT 99.1 Contact: W. Douglas Benn Chief Financial Officer (770) 399-9595 RARE HOSPITALITY INTERNATIONAL EXPECTS FOURTH QUARTER EARNINGS TO EXCEED ANALYST EXPECTATIONS ATLANTA (January 23, 2001) -- Philip J. Hickey, Jr., Chairman and Chief Executive Officer of RARE Hospitality International, Inc. (Nasdaq NM: RARE), today announced that the Company expects to report fourth quarter diluted earnings per share in the range of $0.32 to $0.33, exceeding the consensus analyst estimate of $0.29 per diluted share and an increase of approximately 40% over the $0.23 per diluted share earned in the fourth quarter of 1999. For the 53-week year ended December 31, 2000, the Company expects to report diluted earnings per share in the range of $1.22 to $1.23, before nonrecurring item relating to the settlement of a previously disclosed legal dispute, an increase of approximately 47% over the $0.83 per diluted share earned in 1999 (a 52-week year), before cumulative effect of change in accounting principle. Prior-period results have been adjusted to reflect a three-for-two stock split effected in September 2000. The Company expects to report its final results for the fourth quarter and full year at 7:00 a.m. Eastern time on February 20, 2001. Mr. Hickey remarked, "RARE Hospitality's results reflect strong growth in same store sales, a moderate pace of new restaurant development and continued improvement in operating efficiencies. For the fourth quarter, LongHorn Steakhouse produced a 6.3% increase in same-store sales, which is the 12th consecutive quarterly increase in same store sales. The Capital Grille achieved a 7.6% increase in same-store sales, its 17th consecutive quarterly increase, and the Bugaboo Creek concept reported a 2.7% same store sales increase, its 6th consecutive quarterly gain. "We continued to expand our company-owned restaurant base at a consistent pace in 2000 ending the year with a total of 168 restaurants, up from 149 at the end of 1999. During the year, we opened 17 new LongHorn Steakhouse restaurants bringing the total number of LongHorn Steakhouses in operation at year-end to 135. We added one new The Capital Grille for a total of 12 at year end and one Bugaboo Creek for a total of 19 at year end for that concept. "The outlook for 2001 remains positive. We intend to continue to implement our proven expansion strategies while maintaining our focus on growing guest loyalties through superior execution." Statements contained in this press release concerning future results, performance or expectations are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements in this 2 press release are based upon information available to RARE on the date of this release. All forward-looking statements involve risks and uncertainties that could cause actual results, performance or developments to differ materially from those expressed or implied by those forward-looking statements, such as: RARE's ability to open the anticipated number of new restaurants on time and within budget; RARE's ability to continue to increase same-store sales at anticipated rates; a recession or other negative effect on business dining patterns, or some other negative effect on the economy in general; unexpected increases in cost of sales or other expenses; and the impact of any negative publicity or public attitudes related to the consumption of beef. Other risks and uncertainties include fluctuations in quarterly operating results, seasonality, guest trends, competition and risks associated with the development and management of new restaurant sites. More information about factors that potentially may affect RARE's results, performance or development is included in RARE's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 26, 1999, and RARE's press releases and other communications. RARE Hospitality International, Inc. currently owns, operates and franchises 173 restaurants, including 140 LongHorn Steakhouses located primarily in the southeastern and mid-western United States, 19 Bugaboo Creek restaurants located primarily in the northeastern United States and 12 The Capital Grille restaurants located across the country. -- End -- -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

   1


                                                                    EXHIBIT 99.1


Contact:   W. Douglas Benn
           Chief Financial Officer
           (770) 399-9595

              RARE HOSPITALITY INTERNATIONAL EXPECTS FOURTH QUARTER
                    EARNINGS TO EXCEED ANALYST EXPECTATIONS

ATLANTA (January 23, 2001) -- Philip J. Hickey, Jr., Chairman and Chief
Executive Officer of RARE Hospitality International, Inc. (Nasdaq NM: RARE),
today announced that the Company expects to report fourth quarter diluted
earnings per share in the range of $0.32 to $0.33, exceeding the consensus
analyst estimate of $0.29 per diluted share and an increase of approximately 40%
over the $0.23 per diluted share earned in the fourth quarter of 1999. For the
53-week year ended December 31, 2000, the Company expects to report diluted
earnings per share in the range of $1.22 to $1.23, before nonrecurring item
relating to the settlement of a previously disclosed legal dispute, an increase
of approximately 47% over the $0.83 per diluted share earned in 1999 (a 52-week
year), before cumulative effect of change in accounting principle. Prior-period
results have been adjusted to reflect a three-for-two stock split effected in
September 2000. The Company expects to report its final results for the fourth
quarter and full year at 7:00 a.m. Eastern time on February 20, 2001.

         Mr. Hickey remarked, "RARE Hospitality's results reflect strong growth
in same store sales, a moderate pace of new restaurant development and continued
improvement in operating efficiencies. For the fourth quarter, LongHorn
Steakhouse produced a 6.3% increase in same-store sales, which is the 12th
consecutive quarterly increase in same store sales. The Capital Grille achieved
a 7.6% increase in same-store sales, its 17th consecutive quarterly increase,
and the Bugaboo Creek concept reported a 2.7% same store sales increase, its 6th
consecutive quarterly gain.

         "We continued to expand our company-owned restaurant base at a
consistent pace in 2000 ending the year with a total of 168 restaurants, up from
149 at the end of 1999. During the year, we opened 17 new LongHorn Steakhouse
restaurants bringing the total number of LongHorn Steakhouses in operation at
year-end to 135. We added one new The Capital Grille for a total of 12 at year
end and one Bugaboo Creek for a total of 19 at year end for that concept.

         "The outlook for 2001 remains positive. We intend to continue to
implement our proven expansion strategies while maintaining our focus on growing
guest loyalties through superior execution."

         Statements contained in this press release concerning future results,
performance or expectations are forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. All
forward-looking statements in this


   2

press release are based upon information available to RARE on the date of this
release. All forward-looking statements involve risks and uncertainties that
could cause actual results, performance or developments to differ materially
from those expressed or implied by those forward-looking statements, such as:
RARE's ability to open the anticipated number of new restaurants on time and
within budget; RARE's ability to continue to increase same-store sales at
anticipated rates; a recession or other negative effect on business dining
patterns, or some other negative effect on the economy in general; unexpected
increases in cost of sales or other expenses; and the impact of any negative
publicity or public attitudes related to the consumption of beef. Other risks
and uncertainties include fluctuations in quarterly operating results,
seasonality, guest trends, competition and risks associated with the development
and management of new restaurant sites. More information about factors that
potentially may affect RARE's results, performance or development is included in
RARE's filings with the Securities and Exchange Commission, including its annual
report on Form 10-K for the year ended December 26, 1999, and RARE's press
releases and other communications.

         RARE Hospitality International, Inc. currently owns, operates and
franchises 173 restaurants, including 140 LongHorn Steakhouses located primarily
in the southeastern and mid-western United States, 19 Bugaboo Creek restaurants
located primarily in the northeastern United States and 12 The Capital Grille
restaurants located across the country.

                                    -- End --