Ruth's Chris Steak House

Ruth's Chris Steak House, Inc.

Type	Public (NASDAQ: RUTH)
Founded	In 1965 at Broad Street in New Orleans, Louisiana
Headquarters	Heathrow, Florida, USA
Key people	Craig S. Miller, Chairman & CEO Ruth Fertel, Founder
Industry	Restaurants
Products	Food service
Revenue	▲ $74.75 million USD (2006)
Website	ruthschris.com

Ruth's Chris Steak House (NASDAQ: RUTH) is a chain of over 120 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.^[2] 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.^[3] 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^[4].

History

The chain was founded by the late 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.^[5] Fertel started to franchise the restaurant in the 1970s to locations throughout the United States and throughout the world.^[6]

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.^[7] 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 Greater New Orleans area were forced to close because of the storm.^[8] The Metairie, Louisiana location has since reopened. Amid much criticism of local officials and media, and on the heels of Morton's steakhouse announcement it would reopen its own New Orleans branch,^[9] the corporate offices announced that, due to extensive damage, the old flagship Ruth's Chris on Broad Street would be permanently closed and donated to charity.^[10] In May 2008, Ruth's Chris re-opened in New Orleans and is centrally located downtown in the Harrah's hotel at 525 Fulton Street.

Fare

The restaurant's signature is serving USDA prime steaks that are seared at 1800°Fahrenheit^[11] (982.2°C) and served on plates heated to 500°Fahrenheit (260°C). Half an ounce (1 Tbsp) of butter is added just before the plates leave the kitchen in order to cause the meat to sizzle. In addition to steaks, the restaurant also serves entrees of chicken, lamb, fish and shellfish.^[12]

Portions are generally large enough to serve two or more diners. Side dishes include au gratin potatoes, topped with a bechamel sauce and cheddar cheese. Also available are dessert selections, with the restaurant's signature pecan pie being a staple item throughout the chain.^[12]

All locations offer smaller, separate rooms for private dining^[13] as well as a gift card program.^[14] Reservations are recommended and the dress code is usually a range from business/dressy to business casual.^[15]

See also

• Morton's

References

External links

• Ruth's Chris Official Site
• Updated financials from Yahoo! Finance