Rubio's Restaurant latest Conference Call.
Affected by subprime crisis, high commodities and gas prices, tortillas...ay caramba!
<blockquote>Starting in the third and fourth weeks of November and continuing through the year-end, we experienced a general softening in our business, the result of a weakened economy being pressured by higher gasoline prices and the subprime problems in housing.
All of our markets experienced downward pressure on sales during this time. However, three markets in particular, Phoenix, Sacramento, and the Inland Empire region of Los Angeles, all on the front end of the subprime loan problems were primarily responsible for our weakening fourth quarter comps.
Worsening economic conditions simply caused consumers to pullback on discretionary spending. In turn, comp sales turned negative in these markets for November and December weighing heavily on our overall results despite continued positive fourth quarter comps in all other markets. In fact, excluding Phoenix, Sacramento, and the Inland Empire, our Q4 comps sales would have been 3% versus 1.7% before adjusting for the impact of the Southern California wildfires.</blockquote>
<a href="http://seekingalpha.com/article/71482-rubios-restaurants-inc-q4-2007-earnings-call-transcript?source=yahoo&page;=-1">Conference Call Transcript</a>