Luby’s losses deepen to $9.1M for Q4

The company posted a decline in comps on a drop in traffic for all three of its restaurant brands and announced an outsourcing of several headquarters functions.


Luby’s starts looking for a buyer

The multiconcept operator has begun the process of evaluating “strategic alternatives.”

Comps slipped by an average of 4% across its three restaurant brands.

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The restaurant company, which has closed 27 units in the past year, saw same-store sales decline 3.3% in the recent quarter.

Executives, who say they’re in the midst of a turnaround, plan to focus on marketing to reverse a 5.5% drop in same-store sales for Q1.

Bandera Partners lost its bid to remake the struggling chain’s board at the annual shareholder meeting.

Facing a proxy fight, the struggling casual-dining chain is adding two new board members and modifying its governance rules.

With a shareholders’ meeting looming, Luby’s says it’s in the midst of turning its troubled casual-dining company around.

The “Carol for Luby’s Shareholders” stokes the brewing proxy fight over the embattled chain.

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