Business
Red Robin Gourmet Burgers, Inc. Reports Preliminary Revenue Results for the Fourth Quarter Ended December 29, 2024
Delivers Positive Fourth Quarter Comparable Restaurant Revenue Growth ENGLEWOOD, Colo., Jan. 13, 2025 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ:
About this update from Red Robin Gourmet Burgers, Inc.
[{"type":"text","content":"Delivers Positive Fourth Quarter Comparable Restaurant Revenue Growth\nENGLEWOOD, Colo., Jan. 13, 2025 /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) (\"Red Robin\" or the \"Company\"), a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers and American favorites in a family-friendly atmosphere, today reported preliminary, unaudited revenue results for the fourth quarter ended December 29, 2024. \n\nPreliminary Revenue Results for the Fourth Quarter of Fiscal 2024 as Compared to the Fourth Quarter of Fiscal 2023:\nTotal revenue is expected to be approximately $285.2 million, a decrease of $23.8 million, primarily due to the fourth quarter of fiscal 2024 including 12 operating weeks compared to 13 operating weeks in the fourth quarter of fiscal 2023.Restaurant revenue is expected to be approximately $280.6 million.Franchise royalties, fees and other revenue is expected to be approximately $4.6 million.Comparable restaurant revenue (1) is expected to increase 3.4%, excluding the impact of a change in deferred loyalty revenue. Including this impact, Comparable restaurant revenue (1) is expected to increase 1.8%.G.J. Hart, Red Robin's President and Chief Executive Officer said, \"We expect our fourth quarter comparable restaurant revenue growth will beat our prior expectations as the momentum we saw to start the fourth quarter accelerated through the end of the year. We believe our results were driven by continued traction from our relaunched loyalty program and our 'Appointment Dining' offers which provide selective and highly targeted day-of-the-week promotions to our guests who are searching for it most. These initiatives are driving new and lapsed guests back into Red Robin restaurants to experience the enhancements we have made to both food quality and hospitality.\"\nHart concluded, \"We are pleased the business has continued to deliver strong growth in comparable restaurant revenue in the first two weeks of January. Finally, I'd like to say thank you to our more than 20,000 team members around the country. Their dedication to delivering a great guest experience every day is key to the long-term success of Red Robin.\"\nThe expected financial results are preliminary and unaudited, have not been reviewed by the Company's independent registered public accountants, and rema...