Ruby Tuesday's Times Square, Manhattan location. Photo: Mary Altaffer / AP
NRD Capital is buying the 600-restaurant chain Ruby Tuesday for $146 million, AP reports. Ruby Tuesday's shares jumped nearly 20% from $1.99 to $2.37 on the news.
The big picture: Ruby Tuesday, a sit-down establishment, has been losing business to cheaper, fast-casual joints, and has not reported a quarterly profit in two years. NRD will take the company private.
Illustration: Annelise Capossela/Axios
Drive-in movie theaters, the symbol of a bygone era before cellphones and constant distraction, are suddenly reemerging as a popular form of entertainment during the coronavirus crisis.
Why it matters: Indoor movie theaters are closed, but people still crave entertainment and a chance to get out of their houses. Watching a movie from the safety of a car is the next best thing.
Illustration: Aïda Amer/Axios
Photo: Mandel Ngan/AFP/Getty Images
Kimberly Guilfoyle, Donald Trump Jr.'s partner and a top fundraising official for the Trump campaign, tested positive for the coronavirus on Friday, The New York Times reports.
Why it matters: Guilfoyle is the third person in President Trump’s circle known to have contracted the coronavirus. Vice President Mike Pence's press secretary tested positive, as did a personal valet who served Trump food.