thank call. you conference for us you joining Steve. thank Everyone today’s and on morning Good
While calls, our of provide the going quarter. is management with that the you I'm on brief a update to the on previous company on we've status initiatives discussed team during conference first focusing
financial Our acceptable. we These results need below are were far results first quarter to not in levels the company. stabilize the
our sales and structure seasonally, and quarter losses lowest represents the debt we further always and typically our fit to cost end quarter smaller rightsize, our must first our the store While reduce losses. the still base
sales have improvement G&A including changes in to all reduction in These and our management refreshment we been and ago, A significant spoke make about needed priorities. a year guest traffic and expenses. leadership, we
board Marketing, directors added, new our XX out the addition retired. VP added level in in new directors changed to of VP of were the three information independent we've positions. months, new restaurant At many three technology, level corporate past and a and then, a Since COO
The of six independent new Chairman, and has value. alternatives board Board a comprised and new of directors committee also this review independent evaluate shareholder the advisors with a strategic formed process. strategic The conducting committee thorough is financial maximize engaged Directors to appointed to assist a evaluation special to
quarter, at to both brands X.X%. first This traffic and up in in led guest Fudds the X% In same-store Luby's increased increase also. sales with traffic growth up
X.X%. increased sales same-store Our
However, guest traffic the and sales, despite at of the offset increases of and growth. traffic level, improving labor and commodity much same-store sales restaurant cost benefit
about and reporting, dramatically in The a cost transitioning commodities labor we're of of outsourcing restaurant leading restaurant food functions we our and accounting, up the SG&A, back have other payroll, increase at operational food of costs sales to In rose regard office have multi-unit costs X.X% firm. of pace years. to gone seen contributing portions to highest
the process slightly expect year. compared savings We cost in March. of realize increased end the to $XXX,XXX, costs, expenses After future complete that and to capabilities Overall to SG&A the expect quarters. by last implementation by quarter in we enhanced
year, XX investment increased in new an increase manner, approximately Thanksgiving increased spend, as effective into to support, reduced our advertising media quarter and efforts were leading an included other this $XXX,XXX compared reach various for advertising advertising first However, reflecting of in guests marketing developed. to digital approaches the our marketing advertising, and efforts last and when were
a year $XXX,XXX de-recognition of were accrual. an last bonus quarter first including Also, approximate
and those and general and of service items, professional about that you strip our by other actually and decreased fees travel benefits administrative the if X out general expenses, and fees salaries So, is occupancy $XXX,XXX. overhead outside core costs
the compared to decreased same expenditures million year. $X.X capital our last quarter, first the quarter $XXX,XXX, in During to
net first quarter debt expect low of levels. XXXX While $XX.X with We approximately we at remain December to profitability, to the CapEx million. working return ended recent XX, to on
compared manage continuing loss from quarter levels operation $X.X continue in the We million the of sales. to first $X.X loss of through asset a reported a quarter year. to debt We first in last our million
business cash $X.X million managed improve flow cash the However, operating used we approximately we a On flow. basis, from activities. to in are cash
that was for changes capital. Of restructuring other in expenses million and amount working approximately $X used
We also $XXX,XXX to expenditures spent for maintain another capital the restaurants.
and quarter, about of cash about a the net in of So had same borrowing magnitude. we flow the $X million
a measure tight this keeping focus is it real while on. It's
focus discounting, last year, at to guest but guess continue delivering proposition that intend initiatives sales. in and Fuddruckers everyday with value on Luby's brand's the each We restaurant less we clarifying on compelling, marketplace, offerings a including focus began drive to traffic both we this value and to
operations Before top to bottom, has call giving the ending the stabilizing organization the company difficult. of outstanding to hard dedication performance entire work and while mention the like of all and from company. that been quality, improve We financial our the today, to recognize I'd their
by team value work. build delivering implement guest are measures saving and brand to They to hard greatest restaurant I hard and one members our At their maintain restaurant applaud likewise, cost employees our managers corporate experiences. working the working tirelessly and consistently of are efficiencies. assets And great level, and are
I X. seeing team plans in to continue Meeting at look that results. Shareholder today be you And of meeting. Annual on improve us I'd believe for joining to February many hosting we we on forward call. to to the our make thank right you to and the progress our like leadership place have We'll on
