Luby’s CEO on lackluster earnings: ‘These results are not acceptable’

Houston-based restaurant company Luby’s Inc. (NYSE: LUB) posted lackluster earnings for the first quarter of fiscal year 2020 as the firm continues its turnaround efforts.

Luby’s recorded revenue of $95.15 million during the quarter ended Dec. 18, 2019, down 7.5 percent from the firm’s total sales of $102.92 million during the same time period a year prior. The company’s net loss was $8.34 million, or 28 cents per share, compared to a net loss of nearly $7.49 million, or 25 cents per share, a year…