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, Inc. (NASDAQ: RRGB) reported financial results for Q4 and fiscal year 2022, revealing total revenues of $290.1 million, a 2.4% increase year-over-year. The company posted a net loss of $44.2 million, significantly up from a loss of $21.3 million in 2021, primarily due to a $25 million impairment charge. Adjusted EBITDA remained steady at $8.9 million. For fiscal 2023, Red Robin anticipates total revenue of approximately $1.3 billion and a restaurant-level operating profit margin of at least 13%. The company is also exploring a sale-leaseback transaction for up to 35 properties to reduce debt and fund future investments.
Red Robin Gourmet Burgers has launched its limited-time Five Star Flavors menu featuring gourmet items like the Tycoon Burger and Cheesy Bacon Truffle Fries. This new menu, available at participating locations for dine-in, takeout, and delivery, incorporates rich ingredients such as truffle, porcini, and black garlic. The culinary team, led by VP Brian Sullivan, aims to offer guests unique flavor combinations that have been well-received in tests. The menu also includes seasonal desserts and beverages. Customers can enjoy the offerings while learning about the Red Robin Royalty rewards program.
Red Robin Gourmet Burgers (NASDAQ: RRGB) announced the release of its fiscal fourth quarter and full year 2022 financial results on February 28, 2023, after market close. A conference call to discuss these results will be held at 5:00 p.m. ET. Analysts and interested parties can dial 201-689-8560 to access the call, or visit Red Robin's Investor Relations website for a live webcast. A replay of the call will be available approximately two hours after it concludes, lasting until March 7, 2023.
Red Robin Gourmet Burgers has appointed Brian Sullivan as Vice President of Culinary & Beverage Innovation. With over 40 years of experience in food and beverage, Sullivan is tasked with enhancing the guest experience and refreshing the menu, aligning with the company's "North Star" turnaround plan. His previous role at California Pizza Kitchen involved significant menu innovation. The company aims to elevate its offerings, emphasizing food quality and creative beverages, as part of its strategic comeback.
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.