Red Robin Gourmet Burgers Inc. reported higher profit and improved sales for the April 18-ended first quarter, but lowered its outlook for the full year. Shares in the casual-dining company sank more than 14 percent Friday on news of the downgraded outlook, closing at $20.22. Red Robin’s chief executive, Dennis Mullen, said Thursday that the company was “encouraged by the strengthening of our comparable-restaurant sales,” despite lingering macroeconomic challenges. Red ...

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