Luby’s CEO ‘not pleased’ with Q4 results as sales decrease

Houston-based Luby’s Inc. (NYSE: LUB) is still working on turnaround efforts but reported several declining metrics for its fiscal 2019 full year and fourth quarter.

“We are not pleased with our shareholder value, same-store sales, guest traffic results, or corporate overhead,” Chris Pappas, Luby’s president and CEO, said in a Nov. 26 press release.

For fiscal year 2019, which ended Aug. 28, 2019, total sales were down about 11 percent to $323.5 million, while same-store sales decreased 4.2 percent.…