Red Robin Gourmet Burgers Inc Stock Price, News & Analysis

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) revealed preliminary revenue results for Q4 ended December 25, 2022, reporting approximately $290.2 million, a 2.4% increase year-over-year. The company also announced a strategic 'North Star' plan to enhance long-term shareholder value, focusing on operational efficiency and guest experience. Additionally, Red Robin is considering a Sale-Leaseback transaction for up to 35 properties, aiming to repay debt and fund growth. The company will participate in the ICR Conference today and Jefferies Summit later this month.

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 Lynn Schweinfurth as Chief Financial Officer. Todd Wilson will take over this role starting November 7th, bringing extensive experience from previous positions at Hopdoddy Burger Bar and Jamba Juice. Sarah Mussetter will also rejoin as Chief Legal Officer on December 5th. Interim leadership will be provided by Jeff Hoban and existing department heads until new CIO and CMO appointments are made, as Red Robin aims to enhance long-term shareholder value.

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.

Red Robin Gourmet Burgers is launching its **Cheese Lovers Remix** menu, featuring the **Pretzel Bacon Beer-Cheese Burger** and the return of the popular **Cheesy Bacon Fondue Burger**. Guests can enjoy these offerings, which come with unique cheese fondue for an enhanced dining experience. The menu is available for a limited time, with additional holiday beverages and desserts such as the **Classic Mule** and **OREO Peppermint Crunch Milkshake** set to debut later this month. The promotion aims to replicate the success of last year’s cheese-themed offerings.

Red Robin Gourmet Burgers, Inc. (Nasdaq: RRGB) announced the grant of inducement awards to G.J. Hart, effective September 13, 2022, as part of his appointment as President and CEO. Mr. Hart received 123,762 performance stock units, which will vest based on the company's total stockholder return relative to peers over a three-year period, alongside 123,762 restricted stock units that will vest in three equal installments starting one year post-grant. These awards align with the terms of the Company’s 2017 Performance Incentive Plan.