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Rubio's to discuss FY 2009 earnings, company initiatives
March 22, 2010
Rubio's Restaurants Inc. will hold a conference call March 26 at 1:30 p.m. Eastern time (10:30 a.m. Pacific) to discuss the results of its fourth quarter and fiscal year ended Dec. 27, 2009.
The conference call will be broadcast simultaneously and available for replay via the investor's section of the company's Web site.
Over the last three years, Rubio's has made several changes to its menu that includes the addition of salmon, mahi mahi and grilled gourmet tacos.
"With those additions, we felt we had to bring the ambience up," said Dan Pittard, Rubio's president and CEO.
In early January, the company opened its second location in Vista, Calif., the first to feature an updated interior design.
Digital menu boards have been added to allow for the posting of nutritional content while lighter colors — more reflective of California's Baja Peninsula — have been incorporated into the store's design.
While nearly all of the Rubio's restaurants have been reimaged over the past several years, none reflect updates to the company's Vista location, which also is a better reflection of the company's improved menu, Pittard said.
The new menu items and store design also reflect the company's initiative to increase transactions and bring in more guests. To help with that goal, the company invested in a television ad campaign for a six-week period in the San Diego market.
Executives also are hopeful that California's rising employment rate will positively impact sales.Rubio's ended its third quarter debt free despite a 2.7 percent decline in same-store sales.
Meanwhile, revenue for the quarter increased 3 percent to $48.4 million compared to same period last year.
Rubio's operates, licenses or franchises more than 190 restaurants in California, Arizona, Colorado, Utah and Nevada.
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