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Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) is a renowned casual dining restaurant chain founded in 1969, specializing in a diverse selection of high-quality gourmet burgers served in a family-friendly environment. Based in Englewood, Colorado, Red Robin operates through its wholly-owned subsidiary, Red Robin International, Inc., and boasts a portfolio that includes brands such as Red Robin Gourmet Burgers and Brews. The company's revenue stems from restaurant operations, gift card sales, franchise royalties, and other miscellaneous sources.
Red Robin's vibrant culture is grounded in its B.U.R.G.E.R. values: Bottomless Fun, Unwavering Integrity, Relentless Focus on Improvement, Genuine Spirit of Service, Extraordinary People, and Recognized Burger Authority. These principles guide every aspect of the company's operations, from creating crave-worthy gourmet burgers to choosing new restaurant locations and fostering a supportive environment for its over 35,000 team members across North America.
Known for its exceptional guest service, Red Robin introduces unique experiences through its 'Burger Stories' program, which showcases personal and heartfelt customer interactions. This commitment to quality service is evident in the company's recent ventures and achievements, such as the opening of its latest restaurant in Rossford, Ohio, operated by the Ansara Restaurant Group. The launch of this new location is celebrated with community events and charitable donations, reinforcing Red Robin's dedication to the communities it serves.
Red Robin continues to innovate and expand its menu, recently introducing The Juicier Collection in partnership with Juicy Couture. This collaboration not only highlights Red Robin's new, more flavorful burgers but also strengthens its brand presence through unique marketing strategies. Guests can enjoy a variety of burgers, bottomless sides, creamy milkshakes, and other menu items, including Donatos® pizza at select locations, with convenient options for to-go, delivery, and catering services.
Financially, Red Robin has shown resilience and strategic growth. In its fiscal first quarter of 2024, the company reported positive comparable restaurant revenue, supported by its North Star Five-Point Plan, which focuses on enhancing guest experience through service and food quality improvements. The company has also undertaken sale-leaseback transactions to optimize its financial standing, repaying significant debt and increasing liquidity.
Looking ahead, Red Robin aims to maintain its brand prominence in the casual dining industry by investing in its staff, menu, and guest experience. The launch of a new loyalty program further underscores its commitment to customer satisfaction and growth, positioning Red Robin for continued success and shareholder value.
Red Robin Gourmet Burgers announces a partnership with Blessings in a Backpack to combat childhood hunger. Guests can donate $1, $5, or $10 at participating locations to support children in need. This initiative aims to fill the food gap for over 87,000 children across 44 states and D.C., particularly during weekends and holidays when they lack access to school lunches. CEO G.J. Hart emphasizes the company's commitment to community support. This partnership follows Red Robin’s prior commitment to donate 10 cents from every kids' meal sold for three years to Make-A-Wish Foundation.
Red Robin Gourmet Burgers is excited to announce the opening of its 19th Arizona location in Glendale on March 8, 2023. The new restaurant will offer dine-in, carryout, and delivery services. To celebrate, the first 50 guests on opening day will receive a $50 gift card and commemorative t-shirt, with one lucky guest winning a $500 surprise. Guests can enjoy signature gourmet burgers, Bottomless Steak Fries, and Donatos® pizza. Red Robin aims to create memorable meals in a casual atmosphere. The restaurant will be open daily at 11 a.m., closing at 10 p.m. on weekdays and 11 p.m. on weekends.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) reported financial results for Q4 and fiscal year 2022, revealing total revenues of $290.1 million, a 2.4% increase year-over-year. The company posted a net loss of $44.2 million, significantly up from a loss of $21.3 million in 2021, primarily due to a $25 million impairment charge. Adjusted EBITDA remained steady at $8.9 million. For fiscal 2023, Red Robin anticipates total revenue of approximately $1.3 billion and a restaurant-level operating profit margin of at least 13%. The company is also exploring a sale-leaseback transaction for up to 35 properties to reduce debt and fund future investments.
Red Robin Gourmet Burgers has launched its limited-time Five Star Flavors menu featuring gourmet items like the Tycoon Burger and Cheesy Bacon Truffle Fries. This new menu, available at participating locations for dine-in, takeout, and delivery, incorporates rich ingredients such as truffle, porcini, and black garlic. The culinary team, led by VP Brian Sullivan, aims to offer guests unique flavor combinations that have been well-received in tests. The menu also includes seasonal desserts and beverages. Customers can enjoy the offerings while learning about the Red Robin Royalty rewards program.
Red Robin Gourmet Burgers (NASDAQ: RRGB) announced the release of its fiscal fourth quarter and full year 2022 financial results on February 28, 2023, after market close. A conference call to discuss these results will be held at 5:00 p.m. ET. Analysts and interested parties can dial 201-689-8560 to access the call, or visit Red Robin's Investor Relations website for a live webcast. A replay of the call will be available approximately two hours after it concludes, lasting until March 7, 2023.
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