Red Robin's Preliminary 4Q Results Show 4.5 Percent Revenue Decrease
Red Robin Gourmet Burgers, Inc., a casual dining restaurant chain focused on serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, announced preliminary, unaudited revenue results for its fiscal fourth quarter ended December 25, in conjunction with management’s scheduled presentation at the 19th Annual ICR Investor Conference at the JW Marriott Orlando Grande Lakes.
The company expects to report the following financial results for the fiscal fourth quarter 2016:
Total revenues of approximately $290.8 million
Comparable restaurant revenue decrease of 4.5 percent
Comparable guest count decrease of 2.9 percent
The above results are preliminary and subject to year-end closing adjustments. The company plans to report fiscal fourth quarter 2016 results on February 21.
“The initiatives we put in place last fall—our new $6.99 every day value items, improved speed to table, and the 'Let's Burger!' ad campaign—are helping us grow market share again,” says Denny Marie Post, Red Robin Gourmet Burgers, Inc.’s chief executive officer. “We outperformed casual dining industry traffic trends by 243 basis points in Q4 and saw further improvement in guest service ratings. Continuing this momentum and layering in off-premise initiatives later this year will help us grow in 2017 and beyond.”