Red Robin Gourmet Burgers Inc Stock Price, News & Analysis

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) has appointed Darla Morse as Executive Vice President and Chief Information Officer, effective April 12, 2021. Morse brings over 25 years of experience in IT, serving roles at notable companies like Walt Disney World and CKE Restaurants Holdings. Her responsibilities will encompass leading the technology strategy at Red Robin, focusing on digital platforms and data management. CEO Paul J.B. Murphy III expressed confidence in Morse's ability to accelerate the company’s transformation strategy and drive sustainable growth.

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) has appointed Anddria Varnado as an independent Director to its Board, effective immediately. Varnado is currently GM at Kohler Company, overseeing significant consumer channels. Her previous roles include Vice President at Macy’s and Williams-Sonoma and experience at Citigroup. This marks the addition of the 6th independent Director since 2019, aligning with Red Robin's transformation strategy aimed at long-term growth. Additionally, Glenn Kaufman will retire from the Board at the end of 2021, facilitating a smooth transition.

Red Robin Gourmet Burgers has announced the launch of three new delivery-only brands: The Wing Dept, Fresh Set, and Chicken Sammy's. These brands expand the company's off-premise dining options and include unique menu items not found at traditional Red Robin locations. Following a successful testing phase, these brands aim to enhance customer engagement and will be rolled out to 120 additional locations in 2021. The company continues to invest in its virtual brand strategy to meet growing delivery demand.

Red Robin Gourmet Burgers is enhancing its menu with new limited-time cauliflower-based offerings, including cauliflower wings and a cauliflower crust pizza. Designed to appeal to veggie enthusiasts, these items are available for dine-in, takeout, and delivery. A survey reveals that 75% of Americans who are reformed veggie lovers have increased their vegetable consumption, with cauliflower ranking high among preferred vegetables. The offerings aim to provide versatile and shareable dining experiences.

Red Robin Gourmet Burgers (NASDAQ: RRGB) reported a 33.6% revenue decline to $201.1 million for Q4 2020, mainly due to COVID-19 restrictions. Comparable restaurant revenue dropped by 29.0%, while off-premise sales surged by 131.8%. The net loss widened to $39.3 million, with GAAP loss per diluted share at $2.53. Adjusted EBITDA was a loss of $6.4 million. However, the company anticipates growth in 2021 with plans for the Donatos® rollout, expected to generate over $60 million in annual sales by 2023.

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) announced the release of its fiscal Q4 and full-year 2020 financial results on March 3, 2021, after market close, followed by a conference call at 5:00 p.m. ET. CEO Paul J.B. Murphy III expressed optimism about customer return driven by declining COVID-19 cases and vaccinations, indicating expectations for sustained recovery and growth. The company will also participate in investor conferences on March 11 and 12, 2021, providing opportunities for investor engagement.

Red Robin Gourmet Burgers, Inc. (RRGB) provides an update on its fourth quarter revenue amidst ongoing pandemic challenges. CEO Paul Murphy noted a temporary halt in revenue growth due to restrictions in key states. Despite a 28.9% decline in net comparable restaurant revenue year-over-year, off-premise sales surged 132%. Significant operational improvements included a reduction in the menu by over one-third, yielding annual savings of $2 million. The company reports $128 million in liquidity but faced a $1.5 million weekly cash burn rate during the quarter.

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) will announce its third-quarter financial results for the period ending October 4, 2020, on November 5, 2020, after market close. Following the announcement, an investor conference call will take place at 5:00 PM ET, accessible via phone at (212) 231-2904. A replay will be available shortly after the call, accessible until November 12, 2020. The call will also be available as a live webcast on Red Robin's website in the investor relations section.