More work to be done on transforming brand, company says
Red Robin Gourmet Burgers Inc. recorded a 7-percent increase in profit for its fourth quarter ended Dec. 29, saying it is making progress in transforming the brand, but that there is more work to be done. Guest counts declined 1.4 percent for the quarter, offsetting a 5.1-percent increase in average check.
The Greenwood Village, Colo.-based casual-dining chain ended fiscal 2013 with 495 restaurants, including 355 company-owned locations, 134 franchised units and six fast-casual Red Robin’s Burger Works outlets.
4Q NET INCOME
Result: $7 million, or 48 cents per share
% Increase: 7% (from $6.5 million, or 45 cents per share)
Result: $241.9 million
% Increase: 0.5% (from $240.7million)
4Q SAME-STORE SALES
% Increase at company-owned restaurants: 3.7%
FULL YEAR NET INCOME
Result: $32.2 million, or $2.22 per share
% Increase: 14% (from $28.3 million, or $1.93 per share)
FULL YEAR REVENUE
Result: $1 billion
% Increase: 4% (from $977.1 million)
FULL YEAR SAME-STORE SALES
% Increase at company-owned restaurants: 4%
• Red Robin 3Q net income jumps 34%
• Red Robins 2Q net income rises 44%
• More restaurant industry finance news
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