Rubio’s Doing Well in New Location

The economic down turn has been difficult for everyone. Arguments of a recession or a coming depression make no difference to people who are worried about paying their bills today.  We’ve seen many area businesses close their doors. Smaller, privately owned companies are feeling the pinch as consumers are spending less and less and the cost of keeping the doors open is steadily increasing.

All is not lost though. The chain restaurant that specializes in “fast casual” dining is making the best of what could be an awful period in time for restaurants. Rubio’s has recently opened another restaurant in Capital Village and has been met with impressive success. Is it the Fish Taco Tuesdays? Perhaps, but some of the success is due to the failures of other companies. “We have definitely experienced some pain” says Dan Pittard, Rubio’s president. During the first quarter of 2007, Rubio’s comparative sales were growing at an annual rate of 8 percent or more.  Last spring, the growth stopped, then declined.  But since mid-July, the company’s fortune is improving steadily.

Other restaraunts, especially of the fancier and more expensive kind, have been tightening the belt and closing the doors as more restaurant go-ers are opting for cheaper eats and homecooked meals to help keep to a strict budget. This is creating a whole new market group of potential Rubio’s customers.  Rubio’s has also added many new menu items to broaden the selection to appeal to a larger group of people.

Recently, Rubio’s has been opening restaurants in metropolitan areas that were hard hit by the mortgage crisis. “One of Rubio’s best-performing new restaurants is in Rancho Cordova, a well-to-do Sacramento suburb that has so far avoided being dragged down by the wave of foreclosures and unemployment” says Union Tribune writer, Dean Calbreath.

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Posted by Michelle Ventress on Sep 29 2008. Filed under Viewpoints. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.