Business
Red Robin Gourmet Burgers, Inc. Reports Results for the Fiscal Third Quarter Ended October 3, 2021
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) ("Red Robin" or the "Company"), a full-service restaurant chain
About this update from Red Robin Gourmet Burgers, Inc.
[{"type":"text","content":" GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--\nRed 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 in a family-friendly atmosphere, today reported financial results for the quarter ended October 3, 2021.\n\nKey Highlights\n\n\nRestaurant revenue of $270.2 million and Restaurant Level Operating Profit as a percentage of restaurant revenue (a non-GAAP metric) of 12.5%;\n\n\nThird quarter 2021 comparable restaurant revenue(1) increased 34.3% over the same period in 2020, and increased 0.6% compared to the same period in 2019;\n\n\nImproving comparable restaurant revenue(1) during the Company's third fiscal quarter, and positive 4.0% for the first period of the fourth fiscal quarter(3) compared to 2019, with the improving trajectory driven by strategic growth initiatives, and improvements in staffing levels;\n\n\nOff-premises sales continue to sustain at high levels and comprised $81.0 million, $80.7 million and $35.0 million of comparable restaurant revenue for the third quarters of 2021, 2020 and 2019, respectively;\n\n\nOn track to launch two new mobile apps, iOS and Android, a new website ordering experience, and a new loyalty platform before the end of the year, creating an integrated digital ecosystem which we expect will improve traffic, order completion and average guest check; and\n\n\nRestaurants that have been serving Donatos® pizza prior to 2021 are continuing to benefit from growing incremental sales beyond their first year as operations mature and brand affinity grows, with comparable restaurant revenue up 8.7% in the third quarter compared to 2019 in restaurants without supply chain impacts.\n\n\nComparable Restaurant Revenue for Third Quarter 2021 and First Fiscal Period for Fourth Quarter 2021 Compared to 2020 and 2019\n\nThe following table presents comparable restaurant revenue for the eighth, ninth, and tenth fiscal periods that comprised our third fiscal quarter, as well as the eleventh fiscal period, the first fiscal period of our fourth fiscal quarter:\n\n\n\n2021 Comparable Restaurant Revenue Increase/Decrease, Compared to:\n\n\n\n \n\n\n\nPeriod 8\n\n\n\n \n\n\n\nPeriod 9\n\n\n\n \n\n\n\nPeriod 10\n\n\n\n \n\n\n\nPeriod 11(2)(3)\n\n\n\n\n\n2020\n\n\n\n \n\n\n\n50.5\n\n\n\n \n\n\n\n%\n...