Why Ruth's Hospitality Group Fell 13% Today
Shares of Ruth's Hospitality Group (NASDAQ: RUTH) tumbled just over 13% Friday after the owner of the high-end Ruth's Chris Steakhouse reported second-quarter earnings showing revenue missed analyst forecasts, though it managed to beat bottom-line estimates.
Because Ruth's restaurants did not have much, if any, of a takeout or delivery operation in place until late into the pandemic -- an upscale restaurant is best experienced in the restaurant, not in plastic doggie trays -- sales collapsed during the crisis.
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Source Fool.com