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SUBSEQUENT EVENTS
3 Months Ended
Sep. 04, 2012
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS
NOTE P – SUBSEQUENT EVENTS

Sale-leaseback transactions
Subsequent to September 4, 2012, we completed sale-leaseback transactions of the land and building for three Company-owned Ruby Tuesday concept restaurants for gross cash proceeds of $7.5 million, exclusive of transaction costs of approximately $0.4 million.  Equipment was not included.  The carrying value of the properties sold was $5.6 million.  The leases have been classified as operating leases and have an initial term of 15 years, with renewal options of up to 20 years.  We realized gains on these transactions totaling $1.5 million, which have been deferred and are being recognized on a straight-line basis over the initial terms of the leases.

Share repurchases
Subsequent to September 4, 2012, we spent $1.2 million to repurchase 0.2 million shares of RTI common stock.

Repurchases of Senior Notes
On September 7, 2012, we repurchased $1.5 million of the Senior Notes for $1.4 million plus a negligible amount of accrued interest.  We realized a negligible gain on this transaction.