Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from the line of Will Hamilton with SMH Capital.
Will Hamilton – SMH Capital
Hi. Good afternoon guys.
Christopher Pappas
Good afternoon, Will.
Will Hamilton – SMH Capital
Just a first question on sales trends, you mentioned that some of the smaller and mid markets for you guys have possibly slowed a little bit more, but I was wondering if you could talk about the Texas market as a whole or maybe focus on the larger markets, metropolitan markets and whether there has been any stabilization recently. Certainly there's some of your competitors have made recent comments that after disastrous December and January period, that it appears that some consumers are starting to come back. So I was wondering if you could just give us your thoughts on that. And of course certainly Texas has held up better recently than other markets.
Christopher Pappas
Sure. Will, thanks for that question. The comment related to the smaller markets primarily relates to the lower Rio Grande Valley area that is experiencing some border issues. So I'm just basically thinking that could negatively impact us going forward. Our major markets, from – our reported results for the quarter were down, adjusted same-store sales 5% for the whole company. Our Houston market and our Dallas market are slightly better than that, both of them. So – with Houston better than the Dallas/Fort Worth area. And Houston is where the largest concentration of stores are.
Will Hamilton – SMH Capital
Okay.
Operator
Your next question –
Christopher Pappas
Go ahead Will.
Will Hamilton – SMH Capital
And then you just mentioned that the Bob's seafood opening, is that something that you think could expand to some other locations as sort of a second concept for you? Or is this kind of just a preliminary test on that? And then is that included in the original target of one to two openings and do you anticipate any other openings this year?
Christopher Pappas
I will answer the last one. That will be the only one we get opened this year. And as far as does it represent a test, we do have – and you will recall that we did have two of those and we still have the Huntsville store in operation. We had one at Wachahatchie that was a redo of an existing store and it’s a very small town in Huntsville that we are in. And so we have been comfortable with how that store has done there, and we said, ?Why not do another one of these some place along the way,? and after looking at this store and where it was at in the marketplace, we decided to go ahead and give it as a shot as a Luby's seafood. It has the capability to be converted back into a cafeteria if we choose to, but we said, ?Why not go ahead and open it up as a seafood in a bigger market and see how it does,? So do we do some more of these along the way, we always determine that by the success of – that we experience, so that will be to be determined.
- To read the full transcript on Seeking Alpha, click here »
