Ruth's Chris Steak House
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| Type | Public (NASDAQ: RUTH) |
|---|---|
| Industry | Restaurants |
| Founded | In 1965 at Broad Street in New Orleans, Louisiana |
| Headquarters | Winter Park, Florida, USA |
| Number of locations | 121+ steakhouses[1] |
| Key people | Mike O'Donnell, Chairman & CEO Ruth Fertel, Founder |
| Products | Food service |
| Revenue |  $405.8 million USD (2008)[2] |
| Employees | 6,102 (2008)[2] |
| Website | ruthschris.com |
Ruth's Chris Steak House (NASDAQ: RUTH) is a chain of more than 121 steakhouses[1] across the United States and in several international locations. The restaurant is regarded as an upscale fine dining establishment, marking a gradual elevation in its status since its founding in the 1960s.[3] Ruth's Chris is currently the largest luxury steak company, larger than other restaurants such as The Palm and Morton's chains in number of locations, operating income, and overall profit.[4] On March 22, 2008 the company announced it would be seeking stockholder approval to change its name to Ruth's Hospitality Group to better represent the business after the acquisition of Mitchell's Fish Market.[5] The group has its headquarters in Winter Park, Florida.[6][7]
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[edit] History
The chain was founded by Ruth Fertel, a single mother of two, in 1965, after she bought the existing Chris Steak House in New Orleans. In buying the restaurant, Fertel had to agree that the restaurant keep the "Chris" name for a specified period of time. After the original location sustained a kitchen fire, she relocated the restaurant about one-half mile (0.9 km) to the west on Broad Street and renamed the rebuilt establishment "Ruth's Chris." Under the purchase agreement, the name "Chris Steak House" could not be used at any other location, and she did not want to lose customers already familiar with the Chris name.[8] Fertel started to franchise the restaurant in the 1970s to locations throughout the United States and the world.[9]
Advertising efforts are primarily focused in the talk radio market and its male demographic. The chain has cultivated paid endorsements from several radio celebrities, including Rush Limbaugh and Sean Hannity, with the latter proclaiming Ruth's to be his favorite restaurant.[4] Ruth's won the 2006–2007 Golden Icon Award for "Best Steak House Chain"; the Golden Icon Awards are presented annually by Travolta Family Entertainment.
In 2005 Hurricane Katrina devastated Greater New Orleans (see: Effect of Hurricane Katrina on New Orleans), and the chain moved its corporate headquarters to Heathrow, Florida. Like most businesses in the city, two of the chain's locations in the New Orleans area were forced to close because of the storm.[10] The Metairie location has since reopened. Amid much criticism by local officials and media, and on the heels of the announcement by Morton's that it would reopen its own New Orleans branch,[11] the corporate offices announced that, due to extensive damage, the old flagship location on Broad Street would be permanently closed and donated to charity.[12] In May 2008, Ruth's Chris reopened in New Orleans and is centrally located downtown in the Harrah's hotel at 525 Fulton Street.
[edit] Fare
The restaurant's signature is serving USDA prime steaks that are seared at 1800° Fahrenheit[13] (982.2 °C) and served on ceramic plates heated to 500° Fahrenheit (260.0 °C). Half an ounce (1 Tbsp) of butter is added just before the plates leave the kitchen in order to create the signature 'sizzle'. In addition to steaks, the restaurant also serves entrees of chicken, lamb, fish and shellfish.[14]
Portions generally are large enough to serve two or more diners. Family style side dishes include au gratin potatoes, topped with a bechamel sauce and Cheddar cheese. Also available are dessert selections, with the restaurant's signature creme brulee being a staple item throughout the chain.[14]
All locations offer smaller, separate rooms for private dining[15] as well as a gift card program.[16] The dress code is usually a range from business/dressy to business casual.[17]
In early 2010 Ruth's Chris introduced their "Ruth's Classics" menu of prix fixe meals where guests choose from 3 set categories; starter, entree and side.
[edit] References
- ^ a b Press Release, Ruthschris.com, 02-26-07.
- ^ a b by '+authorShort+' (2010-10-21). "Ruth's Hospitality Group, Inc. | Company profile from Hoover's | 407-333-7440". Hoovers.com. http://hoovers.com/company/Ruths_Hospitality_Group_Inc/cthsif-1.html. Retrieved 2012-01-25.
- ^ "Ruth's Chris Steak House". Funding Universe. http://www.fundinguniverse.com/company-histories/Ruths-Chris-Steak-House-Company-History.html. Retrieved 2007-04-22.
- ^ a b Farkis, David (2005-12-01). "Raising the Stakes". Chain Leader Magazine. http://www.chainleader.com/archives/2005/12/craig-miller.asp. Retrieved 2007-04-22.
- ^ Ruth's Chris vying to change name, First of Columbus, March 27, 2008
- ^ "Heathrow CDP, Florida." U.S. Census Bureau. Retrieved on February 26, 2010.
- ^ "Home Office." Ruth's Hospitality Group. Retrieved on February 26, 2010.
- ^ McDowell, Bill, "Ruth's Chris Steak House," Restaurants & Institutions, August 1, 1994, 54.
- ^ "Never Give Up: Ruth's Chris Steak House," Entrepreneur Magazine, September 1997, 81.
- ^ Dash, Craig (2005-09-05). "Ruth Built the Steakhouse. Katrina Intervened". New York Times. http://www.nytimes.com/2005/09/09/business/09ruth.html?ex=1283918400&en=eed85083a22295e3&ei=5090&partner=rssuserland&emc=rss. Retrieved 2007-04-22.
- ^ Fitzmorris, Tim (2006-02-27). "Morton’s beefs up city’s diminished steak offerings". New Orleans City Business. http://www.neworleanscitybusiness.com/viewStory.cfm?recID=14865. Retrieved 2007-04-22.
- ^ Press Release, Ruth's Chris Steakhouse, Inc., November 18, 2005.
- ^ Savor Perfection with a Steak from Ruth's Chris Steak House, Ruth's Chris Steak House, accessed July 2, 2007.
- ^ a b Sample menu, ruthschris.com, accessed April 22, 2007.
- ^ Private dining, ruthschris.com, accessed April 22, 2007.
- ^ Gift card program, ruthschris.com, accessed April 22, 2007.
- ^ Reservation center, ruthschris.com, accessed April 22, 2007. </ref Gift card program], ruthschris.com, accessed April 22, 2007.
