Welcome to our dedicated page for Red Robin Gourmet Burgers news (Ticker: RRGB), a resource for investors and traders seeking the latest updates and insights on Red Robin Gourmet Burgers stock.
Red Robin Gourmet Burgers, Inc. reports news as a full-service casual dining restaurant chain operating through Red Robin International, Inc. under the Red Robin Gourmet Burgers and Brews trade name. Updates commonly cover quarterly results, comparable restaurant revenue, restaurant traffic, franchise activity, menu launches, value platforms such as Big YUMMM Deals, and the Red Robin Royalty loyalty program.
Red Robin news also includes capital actions, leadership changes, and execution of the company’s First Choice strategic plan, including pricing, labor efficiency, marketing, guest experience, and balance-sheet initiatives. The company serves burgers, salads, appetizers, entrées, desserts, beverages, and Donatos pizza at select locations, with ordering channels for dine-in, to-go, delivery, and catering.
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.
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