DENVER BUSINESS JOURNAL — Red Robin Gourmet Burgers Inc. (Nasdaq: RRGB) reported a “disappointing” first quarter of sales Tuesday, even as company leaders noted they are making progress in their stated goal to increase the amount of transactions for customers who are consuming their food off-premises.
Total revenues rose just 0.2 percent to $421.5 million for the quarter for the Greenwood Village-based full-service restaurant chain, while comparable sales at restaurant locations fell 0.9 percent year-over-year for the first three months of 2018. Adjusted earnings per share fell significantly, from 89 cents during the first quarter of 2017 to 69 cents during the same period this year.
However, Red Robin did make strides in attracting more business from the growing crowd of consumers who choose to skip the restaurant experience and order food for pick-up or for delivery from third-party services. CEO Denny Marie Post turned some heads last year when she announced that Red Robin will pause opening any new brick-and-mortar locations after the end of 2018 in order to concentrate on finding ways to pick up off-premises sales in anticipation of more transactions moving in that direction.
Read more at the Denver Business Journal: https://bit.ly/2IDKXHf
