Red Robin Gourmet Burgers Inc Stock Price, News & Analysis

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.

Red Robin Gourmet Burgers (NASDAQ: RRGB) reported its fiscal second quarter results ending July 10, 2022, showing a 6.1% increase in restaurant revenue, totaling $288.7 million. Comparable restaurant revenue grew by 6.7% year-over-year. However, the company faced a net loss of $17.9 million, worsening from $5.0 million in 2021. Adjusted EBITDA fell to $11.9 million, down $7.1 million from the previous year. Challenges included inflation and rising operational costs, prompting updated guidance with mid-double digit commodity inflation and reduced EBITDA expectations.

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) will release its fiscal second quarter 2022 financial results on August 10, 2022, after market close, followed by a conference call at 4:30 p.m. ET. Investors can access the call by calling 201-689-8560, with a replay option available until August 17, 2022. The call will also be webcast live via the Company’s Investor Relations website. Founded in 1969, Red Robin operates over 520 restaurants across the U.S. and Canada, serving a variety of gourmet burgers and casual dining options.

Red Robin Gourmet Burgers has launched its limited-time Steakhouse Summer menu, featuring the Savory Steakhouse Burger and Loaded Baked Potato Fries. This new menu is part of the brand's strategy to innovate and attract customers. Executive Vice President Jonathan Muhtar emphasized the brand's recent success with new promotions, which surpassed all-time sales records for limited-time offers. The menu is available for dine-in, takeout, and delivery at restaurants nationwide.