News Release
Luby's, Inc.
2211 Northeast Loop 410
P.O. Box 33069
San Antonio, Texas 78265-3069
210/654-9000
www.lubys.com
For additional information contact: Adam Carter, Communications Director, 832-435-3084
FOR IMMEDIATE RELEASE
Luby's Releases Store Locations
SAN ANTONIO, TX - March 31, 2003 - Luby's, Inc. (NYSE: LUB) earlier today announced the implementation of a two-year business plan designed to return the Company to profitability by closing underperforming stores and returning to a primary focus on the Company's Texas markets. Following is a list of locations that will be closed as part of the first phase of the plan. The last day of operation at the affected Texas locations is March 31, 2003, and the last day of operation for the non-Texas locations is April 3, 2003.
City and State | Address |
Dallas, TX | 2377 Stemmons Trail |
Dallas, TX | 12230 Forestgate Drive |
Greenville, TX | 7600 Wesley Street |
Sherman, TX | 3113 Highway 75 North |
San Antonio, TX | 4300 Thousand Oaks Drive |
Grand Prairie, TX | 980 West Pioneer Parkway |
McKinney, TX | 920 North Central Expressway |
Irving, TX | 2250 Walnut Hill Lane |
Tyler, TX | 2829 West Northwest Loop 323 |
Mesquite, TX | 24315 L.B.J. Freeway |
Garland, TX | 3255 Broadway Boulevard |
Arlington, TX | 701 North Watson Street |
Orange, TX | 4040 IH-10 West |
Houston, TX | 6704 Highway 6 South |
Lewisville, TX | 2401 South Stemmons Freeway |
Fort Smith, AR | 6201-A Rogers Avenue |
Phoenix, AZ | 601 West Bell Road |
Tucson, AZ | 7140 East Rosewood Street |
Mesa, AZ | 1404 South Longmore Street |
Glendale, AZ | 5285 West Bell Road |
Oklahoma City, OK | 3800 North MacArthur Boulevard |
Tulsa, OK | 115 East 15th Street South |
Tulsa, OK | 3140 South Garnett Road |
Memphis, TN | 5240 Summer Avenue |
Memphis, TN | 6705 Winchester Road |
The following locations have already closed:
Amarillo, TX (closed first week of March) | 2101 South Coulter Drive |
El Paso, TX (closed first week of March) | 7825 North Mesa Street |
Fort Worth, TX (closed March 24) | 7624 Grapevine Trail |
Albuquerque, NM (closed first week of March) | 4710 Montgomery Boulevard |
Nashville, TN (closed first week of March) | 1501 Gallatin Pike North |
Luby's provides its customers with delicious, home-style food, value pricing, and outstanding customer service. After the restructuring, the Company will operate approximately 140 restaurants in Austin, Dallas, Houston, the Rio Grande Valley, San Antonio, and other Texas and out-of-state locations. This press release, the Company's most recent periodic filings, store directions and locations, Company historical information, procedures for ordering dining cards, and other information can be found on the Company's website, www.lubys.com.
The Company wishes to caution 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 the Company. Except for historical information, matters discussed in such oral and written communications are forward-looking statements that involve risks and uncertainties, including but not limited to general business conditions; the impact of competition; the success of operating initiatives, changes in the cost and supply of food, labor, and other operating expenses; the seasonality of the Company's business, taxes, inflation, and governmental regulations; the cooperation of the Company's lenders and the availability of credit; as well as other risks and uncertainties disclo sed in periodic reports on Form 10-K and Form 10-Q.
####
