Question-and-Answer Session
Operator
(Operator Instructions) The first question comes from the line of Brad Deason – SMH Capital.
Brad Deason – SMH Capital
You all had made the comment that with the stores you are closing there were other stores close by or relatively close. Is there any way you can kind of define generally speaking how far away the other stores might be and kind of how much of the traffic from your old stores you are closing you might think you could recapture?
Scott Gray
I will take the tail end of that question first and I guess that is related to the sales transfer. Typically our has been depending on the location it is a modest amount. We are not really even in our own projections we are not really counting on that. Sometimes you do have some transfer. Typically it has been relatively minor, 5-8% transfer, but that is by no means representation of what it would do for the whole company.
Then I guess with regards to the location a lot of the locations we are closing we do have stores like we said nearby and I will let Chris speak to how our locales look there.
Christopher Pappas
In a couple of major markets there some are as close as three miles and some are as far as five to six miles. In regard to sales transfer it will generally impact one unit generally is what we will see. One or two units. It is not something that is measurable across the board but it will be measurable a lot of times at a single store that is in that 3-5 mile range of the store.
Operator
At this time I am showing no further questions in the queue. I would like to turn the call back over to Mr. Pappas for closing remarks.
Christopher Pappas
Thank you. We appreciate all your attendance today and continuing interest in Luby’s. We look forward to visiting with you on our next quarter conference call.
Operator
Ladies and gentlemen that does conclude our conference for today. If you would like to listen to a replay of today’s conference please dial 303-590-3030 with the access code of 4166310#. We thank you for your participation. At this time you may now disconnect.
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet. (Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com. All other use is prohibited.
- To read the full transcript on Seeking Alpha, click here »
