Ruby Tuesday bets on upscale transition

11/9/2009 |

Casual dining chain Ruby Tuesday embarked on a higher-end makeover just as the economy faltered and consumers began seeking bargains when dining out. Same-store sales are down 8% from last year, after the company spent $100 million to upgrade its menu, wine list and decor in an effort to differentiate itself from the casual dining crowd. Despite skepticism from analysts, founder and CEO Sandy Beall remains optimistic about the strategy.

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