Description of Business

markets.

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during the weeks ended we closed Company - owned restaurants, of which were closed following a comprehensive review of the Company’s property portfolio due to perceived limited upside due to market concentration, challenged trade areas, and other factors. At we owned and operated Ruby Tuesday restaurants concentrated primarily in the Southeast, Northeast, Mid - Atlantic, and Midwest of the United States, which we consider to be our core markets.

to the Condensed Consolidated Financial Statements, we entered into an agreement during fiscal year to sell the assets related to Company - owned Lime Fresh Mexican Grill® (“Lime Fresh”) restaurants. Our last remaining Company - owned Lime Fresh restaurant closed and transferred to the buyer during the quarter of fiscal year

Basis of Presentation

(the “Condensed Consolidated Financial Statements”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. Accordingly, they do notinclude all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. In addition, certain reclassifications were made to prior period amounts to conform to the current period presentation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. Operating results for the and weeks ended are not necessarily indicative of results that be expected for the - week year ending These financial statements should be read in conjunction with the audited consolidated financial statements and footnotes thereto included in RTI’s Annual Report on Form - K for the fiscal year ended

Reclassifications

split our previously reported expenses within Selling, general, and administrative, net into separately reported General and administrative expenses and Marketing expenses, net in the Condensed Consolidated Statements of Operations and Comprehensive Loss for the prior periods to be comparable with the classification for the and weeks ended Additionally, we reclassified an impairment of the Lime Fresh trademark to Closures and impairments, net, in the Condensed Consolidated Statements of Operations and Comprehensive Income for the and weeks ended Amounts presented are in thousands.

 

 

reclassified an impairment of the Lime Fresh trademark to Loss on impairments, including disposition of assets in the Condensed Consolidated Statement of Cash Flows for the weeks ended Amounts presented are in thousands.