Denny Marie Post has been named president of Red Robin Gourmet Burgers Inc., the company said Friday, after reporting a same-store sales decline of 2 percent for its fourth quarter.
Post was previously executive vice president and chief concept officer, and has been with the company since 2011, when she joined as senior vice president and chief marketing officer.
In addition, Stuart Brown, Red Robin’s former senior vice president and chief financial officer, has been promoted to executive vice president. He remains as chief financial officer, the company said.
For the Dec. 27-ended fourth quarter, net income increased to $11.7 million, or 84 cents per share, from $3.9 million, or 28 cents per share, a year ago.
Company revenue for the quarter rose 1.5 percent, to $286.3 million. Including franchised units, systemwide revenue totaled $352.1 million, compared with $348 million the prior year.
The decline in same-store sales for the quarter was driven by a 4.6-percent decline in customer counts offset by a 2.6-percent increase in average check.
For the year, however, same-store sales increased 2.1 percent, driven by a 2.5-percent increase in average check offset by a 0.4-percent decrease in customer counts, the company said.
Net income for the year grew 46.5 percent, to $47.7 million, or $3.36 per share, compared with $32.6 million, or $2.25 per share a year ago. Systemwide revenue for the year totaled $1.6 billion, compared with $1.5 billion the year prior.
“We believe our outperformance is sustainable going forward due to our intense guest focus along with our RED roadmap we laid out earlier this year,” said Steve Carley, Red Robin CEO.
“In 2016, we expect to complete our brand transformation initiative and have a strong lineup of craveable new food and beverage offerings, both of which are critical in this competitive environment and to setting pace for our success over the next five years.”
The company ended the fiscal year with 429 company-owned Red Robin restaurants, 10 fast-casual Burger Works units, and 99 franchised Red Robin locations.
In its outlook for 2016, the company expects same-store sales in the low single digits. Red Robin plans to open 25 new full-service restaurants and five new Burger Works units.
Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout
