Shares of Ruby Tuesday Inc. fell late Thursday after the restaurant chain reported a net loss and falling revenue in the fiscal third quarter. Ruby Tuesday said it lost $19.8 million, or 33 cents a share, compared with a loss of $3.1 million, or 5 cents a share, in the third quarter of fiscal 2016. Total revenue fell 16.8% to $225.7 million, which included a net reduction of 105 company-owned restaurants compared with the third quarter of the prior fiscal year. Ruby Tuesday closed 95 restaurants in connection with its reorganization last year. Same-restaurant sales fell 4%, compared with a 3.1% decline in the prior-year quarter. Adjusted for one-time items, the company lost $3.8 million, or 6 cents a share, in the quarter. Ruby Tuesday also said it named James F. Hyatt II its chief executive, effectively immediately. Shares of Ruby Tuesday fell 1.8% late Thursday after ending the regular trading day up 6.9%.
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