NEW YORK (TheStreet) -- Ruby Tuesday (RT) stock is retreating by 15.71% to $4.40 in after-hours trading on Thursday, after the company delivered disappointing financial results for the fiscal 2016 third quarter.

The Maryville, TN-based restaurant chain posted earnings of 3 cents per share for the quarter ended March 1, missing estimates of 5 cents per share.

Revenue fell by 5.1% year-over-year to $271.47 million for the latest quarter, while analysts had estimated revenue of $284.14 million.

Same-store sales were down by 3.1% because of a negative impact from store closures due to severe winter weather.

"Our third quarter was a volatile period affected by weather, softness in the casual dining industry, and increased promotional activity by our peers," CEO James Buettgen said in a statement.

Additionally, CFO Jill Golder will leave Ruby Tuesday, effective April 11, for a senior leadership position in another company.

Separately, Ruby Tuesday has a "sell" rating and a letter grade of D+ at TheStreet Ratings because of the company's deteriorating net income, disappointing return on equity, poor profit margins and generally disappointing stock performance.

You can view the full analysis from the report here: RT

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.