RYAN'S FAMILY STEAK HOUSES, INC. REPORTS
DECEMBER AND FOURTH QUARTER SALES RESULTS
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SAME-STORE SALES UP FOR THE EIGHTH CONSECUTIVE QUARTER
GREER, SOUTH CAROLINA - - Ryan's Family Steak Houses, Inc.
(NASDAQ:RYAN) today announced that same-store sales for the
4-week period ended December 29, 1999 ("December") decreased
by 1.2%. Same-store sales for the quarter ended December
29, 1999 increased by 0.1%. Details follow:
(Unaudited)
December 4th Quarter
1999 1999
Total sales (000's) $47,250 $160,152
Increase from prior year +3% +4%
Average unit sales:
Same stores (open at least 18 mos.)-1.2% +0.1%
All stores (all Ryan's units) -0.1% +1.0%
Management noted that December sales were adversely affected
by the timing of Christmas day and Ryan's normal closing
schedule. As is normal practice, all Ryan's restaurants are
closed on both December 24th and 25th. In 1998 these days
fell on Thursday and Friday. In 1999 these days fell on
Friday and Saturday, resulting in a greater loss of 1999
business as weekends are the strongest sales-producing days.
If Christmas week were excluded from both years, all-store
sales would have increased 0.7% and same-store sales would
have decreased 0.4% for the remaining 3-week period.
In spite of the aforementioned sales factors, same-store
sales were up 0.1% for the quarter, representing the eighth
consecutive quarter of same-store sales gains. In fact, the
Company's same-store sales have been positive for 17 out of
the last 21 quarters.
At December 29, 1999, the Company owned and operated 289
Ryan's restaurants.
Financial results for the fourth quarter and fiscal year
1999 are expected to be released on January 26, 2000. In
addition, the Company's next accounting period consists of 5
weeks, ending on February 2, 2000.