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Luby’s sees flat Q4 comps

Luby’s said comps rose at its Luby’s Cafeteria, Fuddruckers and Cheeseburger in Paradise brands during the fourth quarter; however, gains at two of those brands were tempered by declining traffic.

Consolidated comps at Luby’s rose 0.7 percent year over year during the quarter ended Aug. 26. 

Same-store sales at Luby’s Cafeteria locations were flat year over year, rising 0.2 percent for the quarter as a result of increased checks. Comps at the fast-casual Fuddrucker’s chain grew 1.7 percent, also rising on higher check averages.

Luby’s noted that higher checks at those two brands were offset by declining customer traffic.

Same-store sales at Cheeseburger in Paradise grew 2.8 percent, the casual-dining chain’s first positive sales quarter since 2012, Luby’s said; however, total sales at the chain fell by $3.2 million, due to a reduction in restaurant locations by nearly half since the year-ago quarter.

“We were pleased with the increased profitability during the quarter, accomplished through improved store level profit margin and better expense management, both of which led to improved financial results in the fourth quarter,” Luby’s CEO Chris Pappas said in a statement. “While revenues were relatively flat year over year, our team grew profitability, increased same-store sales and reduced expenses.

Luby’s reported a net loss of $49,000 for the quarter. 

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