Ruth's Chris CEO: High End Consumers Sizzling
Ruth's Chris Steak House became Ruth's Chris Steak House--after Ruth Fertal bought Chris Steak House in New Orleans, Louisiana. That was in 1965 and she paid $22,000 for it (she combined the names). Now--the high end eatery has 100 locations around the world. And it seems the steak business is sizzling. The stock was up about 2 percent today.
The company CEO is Craig Miller. Miller told CNBC's Erin Burnett that companies like his that serve high end consumers--aren't effected as much by higher gas prices or a slower economy--at least not yet.
Miller cited a 10 percent growth for Ruth's Chris for the past 2-3 years. Miller says that he expects that to continue in 2007 as well.