RYAN'S FAMILY STEAK HOUSES, INC. REPORTS
FOURTH QUARTER SALES RESULTS
GREER, SOUTH CAROLINA - - Ryan's Family Steak Houses, Inc.
(NASDAQ:RYAN) today announced that same-store sales for the
14-week period ended January 3, 2001 decreased by 2.2%.
Management noted that the fourth quarter's sales were
adversely impacted by severe winter weather that repeatedly
affected the Company's southern and midwestern regions
during the second half of the quarter. While food costs
have decreased, the Company's other fourth quarter operating
expenses have been unfavorably affected by:
Higher gas prices and the abnormally cold weather
during both November and December, resulting in higher
utility costs;
Higher team member medical costs; and
Greater impact from fixed costs due to the weak sales
environment.
Details regarding the sales results follow:
(Unaudited)
December 4th
2000 Quarter
Total sales (000's) $59,300 $177,394
Increase from prior year +25% +11%
Average unit sales:
Same stores (open at least 18 mos.)-5.2% -2.2%
All stores (all Ryan's units) -5.1% -1.9%
It should be noted that the fourth quarters of 2000 and 1999
consisted of 14 and 13 weeks, respectively.
At January 3, 2001, the Company owned and operated 301
Ryan's restaurants.
Financial results for the fourth quarter 2000 and fiscal
year 2000 are expected to be released on January 31, 2001.
In addition, the Company's next accounting period consists
of 5 weeks, ending on February 7, 2001.
Certain matters discussed in this release are forward-
looking statements within the meaning of the federal
securities laws and are subject to uncertainties and risks,
including, but not limited to, general economic conditions;
competition; weather fluctuations; the Company's ability to
hire and retain management and hourly restaurant personnel;
the Company's ability to locate acceptable sites and open
new restaurants; changes in the prices of food products used
in the Company's operations; and other such risks detailed
from time to time in the Company's filings with the
Securities and Exchange Commission.
