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High-end restaurant company Ruth's Hospitality(NASDAQ: RUTH) reported earnings of $0.09 per share in the first quarter, missing by a wide margin the $0.29 per share analysts had been expecting. Revenue fell short too.
The owner of Ruth's Chris Steakhouse said the coronavirus pandemic hit business hard, and though the impact was felt late in the quarter, it still resulted in a significant drop-off in business that is spilling over into the second quarter.