Luby's Reports Second Quarter Fiscal 2019 Results
Luby's, Inc. (LUB)
US:NYSE Investor Relations:
lubysinc.com/investors
Company Research
Source: PR Newswire
HOUSTON, April 22, 2019 /PRNewswire/ -- Luby's, Inc. (NYSE: LUB) ("Luby's") today announced unaudited financial results for its twelve-week second quarter fiscal 2019 referred to as "second quarter." Comparisons in this earnings release are for the second quarter compared to second quarter fiscal 2018.Second Quarter Key MetricsSame-store sales decreased 3.3% Culinary Contract Services sales increased by 28% to $7.5 million, up from $5.9 million Income from continuing operations of $6.6 million (including $12.7 million in gains on sales of property) compared to loss of $11.5 million in the second quarter fiscal 2018 Store level profit was 10.7%, up from 7.7% -- a 300 basis points improvement (see non-GAAP reconciliation below) Adjusted EBITDA increased $2.9 million (see non-GAAP reconciliation below)Chris Pappas, President and CEO, commented, "We continue to make positive progress through our turn-around efforts to reduce costs while repositioning our brands for improved sales and inc
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