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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 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.
Red Robin Gourmet Burgers has appointed Brian Sullivan as Vice President of Culinary & Beverage Innovation. With over 40 years of experience in food and beverage, Sullivan is tasked with enhancing the guest experience and refreshing the menu, aligning with the company's "North Star" turnaround plan. His previous role at California Pizza Kitchen involved significant menu innovation. The company aims to elevate its offerings, emphasizing food quality and creative beverages, as part of its strategic comeback.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) revealed preliminary revenue results for Q4 ended December 25, 2022, reporting approximately
Red Robin Gourmet Burgers announced enhancements to its Royalty® program effective January 1, 2023. Members will now need to dine in and make a minimum purchase of $4.99 to redeem the free birthday burger reward. The program continues to offer other benefits like the 'Every 10th item free' and military rewards. Additionally, a new half-birthday reward will be introduced for members. Red Robin aims to enhance guest experience and celebrate its 11+ million Royalty members with these changes.
Red Robin Gourmet Burgers introduces the OREO® Peppermint Crunch Milkshake, available throughout the holiday season. This limited-time shake combines creamy vanilla soft serve with peppermint bits and OREO crumbs, topped with whipped cream and OREO cookies. Following the success of the Pineapple Upside-Down Cake Milkshake, which became the best-seller, the new shake has already received positive reviews since its late October launch. In addition to shakes, Red Robin offers a variety of desserts, maintaining a commitment to delivering quality experiences for guests this winter.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) announced the grant of an inducement award to Todd Wilson, appointed as Executive Vice President and Chief Financial Officer, effective November 14, 2022. Wilson received 45,395 restricted stock units, vesting in three equal annual installments starting one year from the grant date. The award is aligned with the Company's 2017 Performance Incentive Plan, reflecting Red Robin's commitment to retaining leadership talent in the competitive casual dining industry.
Red Robin Gourmet Burgers reported a net loss of $12.6 million in Q3 2022, an improvement from $15.0 million in 2021. The restaurant revenue rose to $282.4 million, a 4.5% increase year-over-year, with comparable restaurant revenue up 5.3%. The company facilitated significant off-premises sales, exceeding pre-pandemic levels. Despite a drop in Adjusted EBITDA to $4.0 million, there was a noticeable increase in average guest checks. The updated guidance suggests continued challenges with commodity and labor costs.
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) has announced significant executive changes, including the retirement of
Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) will release its fiscal third quarter 2022 financial results on November 2, 2022, after market close. A conference call is scheduled for 5:00 p.m. ET on the same day to discuss these results. Investors can participate via phone or access a replay shortly after the call. The replay will be available until November 9, 2022. Red Robin operates over 520 restaurants in the United States and Canada, offering a variety of gourmet burgers and casual dining options.
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