Q4 2019 Luby's Inc Earnings Call

Luby's, Inc. (NYSE: LUB) ("Luby's") today announced unaudited financial results for its sixteen-week first quarter fiscal 2020 referred to as "first quarter." Comparisons in this earnings release are for the first quarter compared to the sixteen-week first quarter fiscal 2019.

BOSTON/NEW YORK, Jan 22 (Reuters) - Proxy solicitor Morrow Sodali this week hired Paul Schulman from rival MacKenzie Partners, a prominent shakeup in the tight-knit world of vote-counting for corporate battles. Schulman will be co-head of Mergers & Acquisitions, Activism and Contested Situations along with Michael Verrechia, a Morrow veteran, according to his LinkedIn profile and two sources who could not speak publicly about the personnel matter. A spokeswoman for Morrow, which worked with Newell Brands during its fight with activist investor Starboard and dining chain Luby's when it was targeted by Bandera Partners, was not immediately available for comment.

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Luby's, Inc. (NYSE: LUB) ("The Company") announced today that, as a result of the rapidly evolving COVID-19 pandemic, the Company is taking additional proactive steps to mitigate negative financial and operational impacts. Accordingly, it has temporarily suspended all operations at 29 additional Luby's Cafeterias and 5 additional Fuddruckers locations as well as our only Cheeseburger in Paradise location. We currently continue to operate 34 Luby's Cafeterias and 3 Fuddruckers restaurants to serve our guests during these times. It is our honor to serve our guests and our communities at our open locations, and we eagerly await the opportunity to reopen our temporarily suspended locations as soon as conditions improve.

The company has been working on turnaround efforts long before the Covid-19 coronavirus pandemic hit.

Luby's Inc. said Tuesday that it will furlough half of its corporate office general and administrative staff due to the coronavirus outbreak. All other salaried workers, including senior management, will see their pay halved. These actions will be in place until further notice. Advertising will also be reduced as a cost-saving measure. Luby's still operates 34 Luby's Cafeterias and 3 Fuddruckers restaurants as carry-out, drive-thru and delivery businesses. The company has 78 Luby's Cafeterias, 40 Fuddruckers and one Cheeseburger in Paradise location as well as nearly 100 franchised restaurants and a foodservice business. Luby's stock sank nearly 10% in Tuesday premarket trading, and is down 66% over the past year. The S&P 500 index has tumbled 20.1% for the last 12 months.

Whitestone REIT (WSR) (“Whitestone” or the “Company”)  announced today the expansion of its legal team with the hiring of Peter Tropoli as General Counsel. At Whitestone, Peter will be responsible for leading the Legal Department and will be part of the Strategic Management Team reporting to CEO Jim Mastandrea. Mr. Tropoli has an extensive background in corporate law, real estate, and executive management, most recently as Senior Counsel at a Chamberlain, Hrdlicka, Whites, Williams and Aughtry Law Firm.

Luby's, Inc. (NYSE: LUB) announced today that it will release its first quarter fiscal 2020 financial results on Monday, February 3, 2020 before the market opens. In conjunction with the release, Luby's has scheduled a conference call, which will be broadcast live over the Internet the same day at 10:00 a.m. Central time.

Luby's, Inc. (NYSE: LUB) ("Luby's") the multi-branded food service company based in Houston, today announced a partnership with DoorDash, the nation's leading on-demand food platform, to offer delivery from more than 100 Luby's and Fuddruckers restaurants.

Activist investment firm JCP Investment Partnership is urging Dine Brands Global Inc to spin off its IHOP pancake house restaurant chain at a time restaurants have largely been ordered to shut in order to help slow the spread of the coronavirus. The Houston-based investment firm told the Glendale, California-based company that its two chains - IHOP and Applebee's Grill & Bar - do not fit together and IHOP should be turned into a standalone company. JCP made a shareholder proposal which was made public in a regulatory filing by Dine late on Wednesday.

However, CEO Chris Pappas noted that as turnaround efforts continue and a special committee works on a strategic review, Luby's is making some improvements.

NEW YORK, NY / ACCESSWIRE / February 3, 2020 / Luby's, Inc. (NYSE:LUB) will be discussing their earnings results in their 2020 First Quarter Earnings to be held on February 3, 2020 at 11:00 AM Eastern ...

HOUSTON , Nov. 8, 2019 /PRNewswire/ -- Luby's, Inc. (NYSE: LUB) announced today that it will release its fourth quarter and fiscal 2019 financial results on Tuesday, November 26, 2019 before the market ...

Luby's, Inc. (NYSE: LUB) ("Luby's" or the "Company") today announced that its Board of Directors has unanimously determined to amend its existing shareholder Rights Agreement (the "Rights Agreement"), adopted on February 15, 2018, in order to extend its expiration date from February 15, 2020 to February 15, 2021. The Board anticipates adopting the amendment on or about February 14, 2020 and intends to seek stockholder approval of the amendment as soon as practicable thereafter.

The news came just a couple weeks after the struggling restaurant company's CFO left to pursue other opportunities.

Luby's has been working to turn around its operation and financial performance for more than a year.

Q1 2020 Luby's Inc Earnings Call

Luby's, Inc. (NYSE: LUB) ("The Company") announced today that, as a result of the COVID-19 outbreak, it has temporarily suspended all operations at 25 Fuddruckers restaurants and 14 Luby's Cafeterias to comply with applicable governmental requirements and due to operating realities. The Company will continue to monitor requirements related to COVID-19, and it will periodically re-evaluate and determine when its restaurants will reopen. The State of Texas has issued an executive order closing in-restaurant dining throughout the State, effective midnight Friday, March 20th through midnight April 3rd. Dallas and Houston had previously issued similar orders.