Red Robin Reports Preliminary Revenue Results for the Fiscal Fourth Quarter of 2016
January 10 2017 - 8:30AM
Business Wire
Guest Traffic Trends Continue to Improve,
Outperform Casual Dining Industry
Red Robin Gourmet Burgers, Inc., (NASDAQ:RRGB), a casual dining
restaurant chain focused on serving an innovative selection of
high-quality gourmet burgers in a family-friendly atmosphere, today
announced preliminary, unaudited revenue results for its fiscal
fourth quarter ended December 25, 2016, 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%
- Comparable guest count decrease of
2.9%
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, 2017.
“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,” said
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.”
Presentation at the 19th Annual ICR Conference
The Company will present at the 19th Annual ICR Conference at
the JW Marriott Orlando Grande Lakes in Orlando, Fla., on
Wednesday, January 11, 2017, at 9:00 a.m. ET. Investors and
interested parties may listen to a webcast of this presentation by
visiting the Company’s website at www.redrobin.com under the
Investor Relations section.
Fourth Quarter Release and Conference Call
Final results for the fiscal fourth quarter of 2016 will be
released shortly after 4:00 p.m. ET on Tuesday, February 21, 2017.
The Company will also host an investor conference call to discuss
its fourth quarter 2016 results at 5:00 p.m. ET that same day. The
conference call number is (800) 236-9788, or for international
callers (913) 312-0934. The call will also be webcast live from the
Company’s website at www.redrobin.com under the Investor Relations
section. A replay will be available after the end of the call and
can be accessed by dialing (877) 870-5176, or (858) 384-5517 for
international callers. The conference ID is 6897042. The replay
will be available until Tuesday, February 28, 2017.
About Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB)
Red Robin Gourmet Burgers, Inc. (www.redrobin.com), a casual
dining restaurant chain founded in 1969 that operates through its
wholly-owned subsidiary, Red Robin International, Inc., and
under the trade name Red Robin Gourmet Burgers and Brews, is
the Gourmet Burger Authority™, famous for serving more than two
dozen craveable, high-quality burgers with Bottomless Steak
Fries® in a fun environment welcoming to guests of all
ages. Whether a family dining with kids, adults grabbing a
drink at the bar, or teens enjoying a meal, Red Robin offers an
unparalleled experience for its guests. In addition to its
many burger offerings, Red Robin serves a wide variety of salads,
soups, appetizers, entrees, desserts, and signature
beverages. Red Robin offers a variety of options behind the
bar, including its extensive selection of local and regional beers,
and innovative adult beer shakes and cocktails, earning the
restaurant a VIBE Vista Award for Best Beer Program in a
Multi-Unit Chain Restaurant. There are more than 550 Red Robin
restaurants across the United States and Canada, including
locations operating under franchise agreements. Red Robin… YUMMM®!
Connect with Red Robin on Facebook, Instagram, and Twitter.
Forward-Looking Statements
Forward-looking statements in this press release regarding the
Company's strategic initiatives and anticipated revenues,
comparable restaurant revenues, comparable guest count, market
share, and growth, and all other statements that are not historical
facts, are made under the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
based on assumptions believed by the Company to be reasonable and
speak only as of the date on which such statements are made.
Without limiting the generality of the foregoing, words such as
“expect,” “believe,” “anticipate,” “intend,” “plan,” “project,”
“will” or “estimate,” or the negative or other variations thereof
or comparable terminology are intended to identify forward-looking
statements. The Company undertakes no obligation to update such
statements to reflect events or circumstances arising after such
date, and cautions investors not to place undue reliance on any
such forward-looking statements. Forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those described in the statements based on a number
of factors, including but not limited to the following: the
effectiveness of the Company's business improvement initiatives;
the ability to fulfill planned expansion and restaurant remodeling;
the effectiveness of our marketing strategies and initiatives to
achieve restaurant sales growth; the cost and availability of key
food products, labor, and energy; the ability to achieve
anticipated revenue and cost savings from anticipated new
technology systems and tools in the restaurants and other
initiatives; the ability to increase to-go and other off-premise
offerings; availability of capital or credit facility borrowings;
the adequacy of cash flows or available debt resources to fund
operations and growth opportunities; federal, state, and local
regulation of the Company's business; and other risk factors
described from time to time in the Company’s Form 10-K, Form 10-Q,
and Form 8-K reports (including all amendments to those reports)
filed with the U.S. Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110005679/en/
Investor Relations:ICRRaphael Gross/Dara Dierks,
203-682-8200orMedia Relations:Coyne PRBrian Farley,
973-588-2000
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