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

Key people Mike O'Donnell, Chairman&CEO

Ruth Fertel, Founder

Products Food service

Revenue $405.8 million USD (2008)

Employees 6,102 (2008)

Website ruthschris.com

 

Ruth's Chris Steak House (NASDAQ: RUTH) is a chain of 135 steakhouses  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. Ruth's Chris is currently the largest luxury steak company in number of locations, operating income, and overall profit., larger than The Palm and Morton's (but not larger than Outback, which is not regarded as belonging in the same category). On March 22, 2008, the company announced it would change its name to "Ruth's Hospitality Group" to better represent the business after its acquisition of Mitchell's Fish Market.  The group has its headquarters in Winter Park, Florida.

 

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.Fertel started to franchise the restaurant in the 1970s to locations throughout the United States and the world.

 

Advertising efforts are primarily focused in the talk radio market and its maledemographic. 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. 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. 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, the corporate offices announced that, due to extensive damage, the old flagship location on Broad Street would be permanently closed and donated to charity. In May 2008, Ruth's Chris reopened in New Orleans and is centrally located downtown in the Harrah's hotel at 525 Fulton Street.