Note D - Discontinued Operations

9 Months Ended

Mar. 04, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE D – DISCONTINUED OPERATIONS

In an effort to focus primarily on the successful sales turnaround of our core Ruby Tuesday concept and secondly, to improve the financial performance of our Lime Fresh concept, we closed all 13 Marlin & Ray’s restaurants, the Company’s one Wok Hay restaurant, and our two Truffles restaurants during fiscal 2013. We have classified the results of operations of our Company-owned Marlin & Ray’s, Wok Hay, and Truffles concepts as discontinued operations for all periods presented. The results of operations of our discontinued operations are as follows (in thousands):

	Thirteen weeks ended						Thirty-nine weeks ended
	March 4, 2014			March 5, 2013			March 4, 2014			March 5, 2013
Restaurant sales and operating revenue	$	–		$	2,421		$	–		$	11,575
Income/(loss) before income taxes	$	77		$	(4,405	)	$	2		$	(23,172	)
Benefit for income taxes		(9	)		(1,885	)		(95	)		(9,313	)
Income/(loss) from discontinued operations	$	86		$	(2,520	)	$	97		$	(13,859	)

We had $2.8 million of assets associated with the closed concept restaurants, which are included in Property and equipment, net in our June 4, 2013 Condensed Consolidated Balance Sheet. There were no assets associated with the closed concept restaurants included within Property and equipment, net in our March 4, 2014 Condensed Consolidated Balance Sheet. Additionally, included within Assets held for sale in our March 4, 2014 and June 4, 2013 Condensed Consolidated Balance Sheets are $0.8 million and $4.2 million, respectively, of assets associated with the closed concept restaurants. See Note I to the Condensed Consolidated Financial Statements for a discussion of closed restaurant lease reserves as of March 4, 2014 and June 4, 2013 associated with the closed concept restaurants.