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Rudy Tuesday Down 17 Percent!

Ruby Tuesday, Inc.’s (NYSE:RT) first quarter earnings report is another clear example of the difficulties facing the restaurant industry. Same-store sales in the first quarter dropped 11.4 percent. The first quarter losses were 31 cents above analyst expectations. Franchisors also saw a decline of 8.4 percent in sales.  As we saw with Yum! Brands, Inc.’s (NYSE:YUM) disappointing earnings on Tuesday consumers are not interested in spending the little disposable income they have on dining out. Currently, Ruby Tuesday is down an astonishing 17 percent. Nothing seems to be working for the industry at the moment!