Red Robin Gourmet Burgers Inc Stock Price, News & Analysis

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.

Red Robin Gourmet Burgers (NASDAQ: RRGB) announced that G.J. Hart will become its new President and Chief Executive Officer, effective September 6, 2022. Hart has been a Board member since August 2019 and will replace Paul Murphy, who will retire at the end of 2022, remaining as a special advisor until March 31, 2023. Hart brings extensive experience from his leadership roles at Torchy's Tacos and California Pizza Kitchen, aiming to enhance Red Robin's growth and shareholder value.

Red Robin Gourmet Burgers is launching a limited-time $10 Gourmet Meal Deal from now until July 31. This offer helps customers enjoy a gourmet burger, bottomless steak fries, and a bottomless beverage at a reduced price amidst rising inflation. Executive VP Jonathan Muhtar stated that this initiative aims to provide affordable dining options for families during tough economic times. The meal deal includes several burger choices and is available for dine-in only at participating locations across the U.S.

Red Robin Gourmet Burgers (NASDAQ: RRGB) announced that Paul Murphy, President and CEO, plans to retire at the end of 2022 when his contract expires. He will assist the Board in finding a successor and remain as a special advisor until March 31, 2023. Murphy's leadership has seen the company through significant challenges, including the COVID-19 pandemic, while stabilizing operations and improving overall performance. The Board expressed appreciation for his contributions and is optimistic about the company's future.

Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) will host a virtual fireside chat at the Jefferies Consumer Conference starting on June 20, 2022. This discussion will provide insights into the company’s innovative gourmet burger offerings and overall business strategy.

The event will be webcast and later archived on the Company’s Investor Relations website, ensuring accessibility for stakeholders and interested parties.