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Rubio's to open redesigned restaurant in Anaheim Hills
May 4, 2010
Rubio's Fresh Mexican Grill will open its third location in the California city of Anaheim May 13. The San Diego-based chain is introducing a new, more upscale design at its Anaheim Hills restaurant, featuring exhibition cooking, music and decorative patterns that complement the complex flavors of Rubio's food.
To celebrate the grand opening, Rubio's will host a fundraising event May 12 from 5:30 p.m. to 7:30 p.m., to benefit Kristie's Foundation. The Anaheim based non-profit provides assistance, support, and cherished moments to critically ill children and their families. For a donation of $10 for adults and $5 for children 12 and under, the public can enjoy delicious "Beach Mex" cuisine, and Rubio's will donate 100 percent of the proceeds to the local charity.
"We're excited to introduce this new restaurant design to the City of Anaheim," said founder Ralph Rubio. "We're anxious to see how the community responds to our latest effort to bring together the unforgettable flavors, sights and sounds of the Baja coast for a quick but relaxed dining experience."
Rubio's debuted its new store design in Vista, Calif., in February. In late March, the company reported its financial results for the fourth quarter and fiscal year ended December 27, 2009.
Same-store sales decreased 2.7 percent in the fourth quarter, versus a comps decrease of 0.2 percent reported in the same quarter last year.
For the year, same-store sales declined 0.7 percent versus a decrease of 2.4 percent in 2008. In both the fourth quarter and full year, the impact of decreased transaction volume more than offset an increase in the average check per customer.
Average unit volume was slightly less than $1.0 million in the quarter, virtually unchanged from the same year-ago quarter.
For the quarter, revenues totaled $45.4 million, an increase of 1 percent from $45.0 million reported in the same year-ago quarter. Revenue for the full year totaled a record $188.9 million, up 5 percent from $179.3 million in the same year-ago period.
"Our fourth quarter performance reflected its typical seasonality, which has been traditionally the low water mark for the year. However, Q4 also continued the tradition of surpassing the revenue of the previous year's fourth quarter, making Q4 2009 another record revenue fourth quarter," said Dan Pittard, Rubio's president and CEO. "As the first quarter of 2010 approaches its close, we are seeing the traditional seasonal sales increase following the fourth quarter."
The company experienced a net loss of $852,000 in the fourth quarter of 2009, versus a net loss of $295,000 in the same year-ago quarter. However, for the year, net income was $392,000 compared to a net income of $84,000 reported in the same year-ago period.
Rubio's opened one restaurant in the fourth quarter of 2009, as compared to five in the same period a year-ago, increasing the total to 10 units opened in 2009.
The company also ended fiscal year 2009 with $9.5 million in cash and no debt, said Rubio's CFO Frank Henigman.
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