SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event report): January 3, 2000
RYAN'S FAMILY STEAK HOUSES, INC.
(Exact name of registrant as specified in its charter)
South Carolina 0-10943 57-0657895
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
405 Lancaster Avenue (29650)
Post Office Box 100
Greer, SC 29652
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (864) 879-1000
(No change)
(Former name or former address, if changed since last report)
Item 5. Other Events.
On January 3, 2000 Ryan's Family Steak Houses, Inc. (the
"Company") released to both sell-side and buy-side analysts on
the Company's internal facsimile list information on restaurant
sales results for the 4-week period ended December 29, 1999
(referred to therein as the month of December), which information
is incorporated herein by reference.
Item 7.Financial Statements and Exhibits.
(c) Exhibits
20.1 December sales information issued January 3, 2000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
RYAN'S FAMILY STEAK HOUSES, INC.
(Registrant)
By: /s/Fred T. Grant, Jr.
Name: Fred T. Grant, Jr.
Title: Vice President-Finance
Date: January 3, 2000
RYAN'S FAMILY STEAK HOUSES, INC. REPORTS
DECEMBER AND FOURTH QUARTER SALES RESULTS
-----------------
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.
