FISCAL Q1 2014 INVESTOR SUPPLEMENTAL …...2013/12/19 · FISCAL Q1 2014 INVESTOR SUPPLEMENTAL MATERIAL December 19, 2013 1 2014 Investor Presentation December 19, 2013 SAFE HARBOR

FISCAL Q1 2014 INVESTOR FISCAL Q1 2014 INVESTOR SUPPLEMENTAL MATERIALSUPPLEMENTAL MATERIAL

December 19, 2013December 19, 2013

December 19, 20132014 Investor Presentation1

SAFE HARBOR STATEMENTSAFE HARBOR STATEMENTStatements made in this presentation and on the conference call, including statements made during the question-and-answer session, regarding Lucy’s future financial and operating results, as well as plans for expansion of the Company's business, including the expected financial performance of the Company's prototype restaurants and future openings, are forward-looking statements. These statements include risks and uncertainties, including but not limited to, general business conditions, the impact of competition, success of operating initiatives, changes in the constant cost and supply of food and labor and seasonality of the Company's business, taxes, inflation, governmental regulations, and availability of credit, as well as other risks and uncertainties disclosed in the Company's periodic reports on Forms 10-K and Forms 10-Q.

2014 Investor Presentation2 December 19, 2013

NON GAAP MEASURESNON GAAP MEASURES


OUTLINEOUTLINE

• EBITDA

• Capital Expenditures

• Current Pipeline

• FY14 Q1 Financial Highlights


9.7 10.0

20.9

28.6 24.1 22.8

25.4

3.2

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 LTM FY14Q1

($M

M))

EBITDA

1.3

EBITDAEBITDA

2014 Investor Presentation5

EBITDA = Income from Continuing Operations + Income Taxes + Depreciation + Interest Expense + Net Loss/(Gain) on Dispositions + Asset Impairments + Non‐cash compensation expense ‐ Other Income

25.9

AddbackCIP Loss

CIP: Cheeseburger in Paradise

December 19, 2013

FY2014 Q1 CAPITAL BY BRANDFY2014 Q1 CAPITAL BY BRAND


($MM) FY2013 FY14Q1Luby's Cafeterias 20.6$ 6.5$ Fuddruckers 9.3 1.9 Cheeseburger in Pardise 0.7 0.3 Corporate/Other 0.7 0.4 Total 31.3$ 9.2$

December 19, 2013

FY2014 Q1 CAPITAL INVESTMENTSFY2014 Q1 CAPITAL INVESTMENTS


FY13 FY14($MM) Total Q1Land 4.8$ 1.3$ New Construction 14.7 4.2 Remodels 5.4 1.5 Recurring 6.4 2.2 Total 31.3$ 9.2$

December 19, 2013

ANNUAL CAPITAL INVESTMENTANNUAL CAPITAL INVESTMENT


5.4 2.9 5.2 5.7 6.5 6.5

6.9

0.7

5.8

16.8

24.8

33.5

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

FY 2009 FY 2010 FY 2011 FY 2012E FY2013 FY2014Projected

($M

Ms)

Annual Capital Investment(Exluding Acquisiton CAPEX)

Maintenance CAPEX Growth CAPEX

12.3

3.6

11.0

22.5

31.3

40.0

12.3

3.6

11.0

22.5

31.3

40.0

12.3

3.6

11.0

22.5

31.3

40.0

12.3

3.6

11.0

22.5

31.3

40.0

12.3

3.6

11.0

22.5

31.3

40.0

12.3

3.6

11.0

22.5

31.3

40.0

12.3

3.6

11.0

22.5

31.3

40.0

12.3

3.6

11.0

22.5

31.3

40.0CAPEXRange

December 19, 2013

PIPELINEPIPELINEFuture GrowthFuture Growth


16 NEW UNIT PIPELINE16 NEW UNIT PIPELINE(AS OF DECEMBER 19, 2013)(AS OF DECEMBER 19, 2013)

• 5 Luby’s Cafeteria & Fuddruckers Hamburgers Combo = 10 Restaurants

Austin, TX – Slaughter Lane (Under construction) Katy, TX - Cinco Ranch Blvd. (Under Construction) Dallas, TX – Rockwall (Under Construction) Houston ,TX – I-45 South – Webster Jackson, MS

• 1 Additional Dual Restaurant Location (2 Restaurants) Dallas, TX (The Colony) – Configuration to be determined

• 4 Fuddruckers Hamburgers Houston, TX – MacGregor (Herman Park / Medical center) (Under

Construction) Bee Cave, TX (Austin) (Under Construction) Maryland – Brandywine San Antonio, TX – Blanco & Hwy 1604


FINANCIAL HIGHLIGHTSFINANCIAL HIGHLIGHTS


FY14Q1 RESTAURANT SALES YOYFY14Q1 RESTAURANT SALES YOY


CIP = Cheeseburger in ParadiseCore Stores = All stores open prior to FY2012 (including relocated stores);Core Stores average age = 23 years

$74.0

$81.4$8.8 $0.4

($1.5) ($0.1)

$60

$65

$70

$75

$80

$85

FY13 Q1Sales

CIPSales

New Stores Sales

Closed Stores Sales

LegacyStores

FY14Q1 Sales

Restaurant Sales Change ($MM)FY2013 Q1 to FY2014 Q1

December 19, 2013

FY2013 RESTAURANT SALES YOYFY2013 RESTAURANT SALES YOY


$324.5

$366.2

$35.7

$11.3

($5.6)

$0.2

$300

$310

$320

$330

$340

$350

$360

$370

$380

$390

$400

FY12 Q4Sales

CIPSales

New Stores Sales

Closed Stores Sales

CoreStores

FY13Q4 Sales

Restaurant Sales Change ($MM)FY2012 to FY2013

CIP = Cheeseburger in ParadiseCore Stores = All stores open prior to FY2012 (including relocated stores); Core Stores average age = 23 years

December 19, 2013

TOTAL COMPANYTOTAL COMPANYHISTORICAL SAME STORE SALESHISTORICAL SAME STORE SALES


Q1 Q2 Q3 Q4 Year

FY2011 5.5% 2.7% 3.5% (0.6%) 2.5%

FY2012 3.5% 2.2% 1.1% 2.4% 2.2%

FY2013 0.2% (0.6%) (0.1%) 0.5% 0.0%

FY2014* (1.3%)

*FY2014 Q1 Calendar Shifted for Timing of Thanksgiving: Same Store Sales = 1.1%

December 19, 2013

Q1 HISTORICAL SAME STORE Q1 HISTORICAL SAME STORE SALESSALES


(13.3%)

5.5%

3.5%

0.2%

(1.3%)

(15.0%)

(10.0%)

(5.0%)

0.0%

5.0%

10.0%

2010 2011 2012 2013 2014

December 19, 2013

LUBYLUBY’’S CAFETERIAS CAFETERIAHISTORICAL SAME STORE SALESHISTORICAL SAME STORE SALES


Quarter Sales Traffic PPAQ1 (late November)

2012 3.4% (5.2%) 9.1%2013 (1.0%) (1.9%) 2.2%2014* 2.4% 1.6% 0.7%

3‐Year Comp 4.9% (5.5%) 12.3%

Q2 (Mid February)2011 2.7% 8.4% (5.0%)2012 2.2% (0.7%) 2.9%2013 (0.6%) (2.0%) 1.4%

3‐Year Comp 4.3% 5.5% (0.9%)

Q3 (Early May)2011 3.5% 4.6% (1.0%)2012 0.1% (3.0%) 3.2%2013 (0.1%) (1.1%) 0.9%

3‐Year Comp 3.5% 0.3% 3.1%

Q4 (Last Wednesday in August)2011 (1.1%) (1.9%) 1.6%2012 2.6% (2.9%) 5.7%2013 1.0% 0.5% 0.4%

3‐Year Comp 2.5% (4.3%) 7.8%

*2014 Q1 Calendar Shifted for Timing of Thanksgiving

December 19, 2013

FUDDRUCKERS BRAND FUDDRUCKERS BRAND HISTORICAL SAME STORE SALESHISTORICAL SAME STORE SALES


Quarter Sales Traffic PPAQ1 (late November)

2012 4.5% 1.6% 2.8%2013 0.9% (1.4%) 2.3%2014 (2.3%) (4.8%) 2.7%

3‐Year Comp 3.0% (4.6%) 8.0%

Q2 (Mid February)2011 1.7% 3.0% (1.2%)2012 6.8% 2.3% 4.3%2013 (0.1%) (2.5%) 2.3%

3‐Year Comp 8.5% 2.7% 5.4%

Q3 (Early May)2011 3.2% 1.9% (1.2%)2012 4.6% 0.6% 3.9%2013 0.5% (2.1%) 2.7%

3‐Year Comp 8.5% 0.4% 5.4%

Q4 (Last Wednesday in August)2011 4.0% 1.2% 2.7%2012 3.3% 0.5% 2.8%2013 (0.4%) (2.9%) 2.2%

3‐Year Comp 7.0% (1.2%) 7.9%

December 19, 2013

Q1 STORE LEVEL PROFIT YOYQ1 STORE LEVEL PROFIT YOY


CIP = Cheeseburger in Paradise; SLP = Store Level ProfitLegacy Stores = All stores open prior to FY2012 (including relocated stores);Core stores average age = 23 years

$9.8

$8.7

($1.4)

$0.1

($0.1)

$0.4

$6

$7

$8

$9

$10

$11

$12

FY13 Q1SLP

CIPSLP

New Stores SLP

Closed Stores SLP

LegacyStores

FY14Q1 SLP

Restaurant Store Level Profit Change ($MM)FY2013 Q1 to FY2014 Q1

December 19, 2013

2013 STORE LEVEL PROFIT YOY2013 STORE LEVEL PROFIT YOY


$50.0

$47.0

$0.0

$1.4

($1.2)

($3.1)

$45

$46

$47

$48

$49

$50

$51

$52

FY12SLP

CIPSLP

New Stores SLP

Closed Stores SLP

CoreStores

FY13SLP

Restaurant Store Level Profit Change ($MM)FY2012 to FY2013

CIP = Cheeseburger in ParadiseCore Stores = All stores open prior to FY2012 (including relocated stores);Core Stores average age = 23 years

December 19, 2013

STORE LEVEL PROFIT Q1 YOYSTORE LEVEL PROFIT Q1 YOY


CIP = Cheeseburger in Paradise

Quarter EndedWith Cheeseburger Cheeseburger Excluding CIP

November 20, November 20, November 20, November 21,($000s) 2013 2013 2013 2012

(12 weeks) (12 weeks)

Restaurant Sales 93.2% 93.1%Culinary Contract Services 4.9% 4.8%Franchise Revenue 1.7% 1.9%Vending Revenue 0.1% 0.2%Total Sales 100.0% 100.0%

Costs and Expenses:(As a percentage of restaurant sales)Cost of Food 28.7% 33.9% 28.1% 28.2%Payroll and Related costs 35.4% 44.6% 34.2% 35.1%Other Operating expenses 19.1% 26.5% 18.2% 18.1%Occupancy 6.1% 10.5% 5.6% 5.5%Store Level Profit 10.7% (15.4%) 13.9% 13.2%

December 19, 2013

STORE LEVEL PROFIT FY2013 STORE LEVEL PROFIT FY2013 YOYYOY


CIP = Cheeseburger in Paradise

Year With Cheeseburger Cheeseburger Excluding CIP

August 28 August 28 August 28 August 29($000s) 2013 2013 2013 2012

(52 weeks) (52 weeks)

Restaurant Sales 93.8% 92.7%Culinary Contract Services 4.3% 5.1%Franchise Revenue 1.8% 2.1%Vending Revenue 0.1% 0.2%Total Sales 100.0% 100.0%

Costs and Expenses:(As a percentage of restaurant sales)Cost of Food 28.7% 31.8% 28.3% 27.9%Payroll and Related costs 34.4% 37.8% 34.0% 34.5%Other Operating expenses 18.2% 22.8% 17.7% 16.7%Occupancy 5.9% 7.8% 5.7% 5.5%Store Level Profit 12.8% (0.1%) 14.2% 15.4%

December 19, 2013

APPENDIXAPPENDIXDecember 19, 2013December 19, 2013


RECONCILIATION OF STORE LEVEL PROFIT TORECONCILIATION OF STORE LEVEL PROFIT TOINCOME FROM CONTINUING OPERATIONSINCOME FROM CONTINUING OPERATIONS


Quarter EndedNovember 20 November 21

($000s) 2013 2012(12 weeks) (12 weeks)

Store level profit 8,716 9,755

Plus:Sales from vending revenue 112 122 Sales from culinary contract services 4,270 3,841 Sales from franchise revenue 1,514 1,522

Less:Opening Costs 350 206 Cost of culinary contract services 3,672 3,466 Depreciation and amortization 4,413 4,118 General and administrative expenses 8,029 7,378 Provision for asset impairments, net 430 90 Net loss on disposition of property and equipment Interest 51 (242) Interest Income (2) (2) Interest Expense 253 175 Other Income, net (296) (243) Provision for income taxes (907) 78 Income (loss) from continuing operations (1,382) 217

December 19, 2013

GAAP RECONCILATION ($000)GAAP RECONCILATION ($000)


LTMFY 2009 FY 2010 FY 2011 FY2012 FY2013 FY2014 Q1

Income from Continuing Operations (14,032) (503) 2,618 7,558 4,221 2,767 Add: Income Taxes 462 (3,190) 509 1,706 1,839 853 Add: Depreciation 16,021 15,217 17,204 17,972 18,533 18,783 Add: Interest Expense, net 189 601 2,439 934 912 991 Add: Net Loss/(Gain) on Dispositions (916) (924) (1,427) 278 (1,723) (1,430) Add: Asset Impairments 6,740 282 84 451 615 956 Add: Impairment/(Reversal) FMV of Investment 997 (1,636) - - Add: Non-Cash Compensation Expense 1,338 1,044 782 795 770 934 Less: Other Income (1,069) (844) (1,276) (1,081) (1,043) (1,096) EBITDA 9,730 10,046 20,932 28,613 24,123 22,758

December 19, 2013

Documents

FISCAL Q1 2014 INVESTOR SUPPLEMENTAL …...2013/12/19 · FISCAL Q1 2014 INVESTOR SUPPLEMENTAL MATERIAL December 19, 2013 1 2014 Investor Presentation December 19, 2013 SAFE HARBOR