Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, November 23, 2012

Article Excerpt

RUBY TUESDAY INC., $7.66, symbol RT on New York, has appointed J.J. Buettgen as its new president and CEO. The move comes after Ruby Tuesday’s founder, Sandy Beall, stepped down in June after heading the company for 40 years. Buettgen was formerly the chief marketing officer at Darden Restaurants (symbol DRI on New York). Darden is the world’s largest casual dining operator, with more than 2,000 restaurants in the U.S. and Canada. It owns the Olive Garden, Red Lobster, LongHorn, Capital Grille, Bahama Breeze and Seasons 52 chains. Ruby Tuesday has 712 company-owned restaurants; franchisees operate another 78. Ruby Tuesday should be a good fit for Buettgen. The company has developed a number of new concepts, including Marlin & Ray’s seafood restaurants and Lime Fresh Mexican Grills, so it needs someone with experience promoting multiple brands. As well, Buettgen has worked on turning around Darden’s well-established but underperforming Olive Garden and Red Lobster chains. Ruby Tuesday is a buy for aggressive investors. RUBY TUESDAY…