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Red Robin Gourmet Burgers, Inc. (RRGB) - free report >>
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Red Robin Gourmet Burgers, Inc. (RRGB) - free report >>
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Red Robin (RRGB) Plans to Open New Outlet in Georgia
Red Robin Gourmet Burgers Inc. (RRGB - Free Report) plans to open a Red Robin Gourmet Burgers and Brews restaurant in Buford, GA, on Aug 29. The outlet will be situated at the main entrance of the Mall of Georgia near the Regal IMAX movie theater.
Apart from the company’s signature items like Royal Red Robin Burger and Bottomless Steak Fries as well as the Smoke & Pepper Burger and Royal Red Robin Burger, the restaurant will offer Freckled Lemonade. The menu will also include a variety of salads, entrees, soups and wraps.
Notably, as part of the opening celebrations, the company will donate the proceeds from the sales of Freckled Lemonade at the restaurant during the opening week — Aug 29 to Sep 4 — to a non-profit organization, Alex's Lemonade Stand Foundation.
Expansion
Red Robin’s unit expansion continues despite economic uncertainty in the domestic market. Moreover, Red Robin has been exploring opportunities in untapped markets of Florida, New York, New Jersey, Chicago and Texas to enhance its domestic presence.
Notably, keeping in line with its expansion plans, the company recently launched new Red Robin Gourmet Burgers and Brews restaurants in Idaho, New York, Florida and Indiana.
Bottom Line
We believe that the company’s efforts to expand its footprint through accelerated unit growth will boost revenues.
Moreover, we expect this Zacks Rank #5 (Strong Sell) company’s initiatives such as menu innovation, focus on increasing speed of service, effective marketing strategy and remodeling programs to boost top and bottom-line performance.
RED ROBIN GOURM Price
RED ROBIN GOURM Price | RED ROBIN GOURM Quote
Stocks to Consider
Better-ranked stocks in this sector include Papa John's International Inc. (PZZA - Free Report) , Del Taco Restaurants, Inc. and Restaurant Brands International Inc. (QSR - Free Report) . All the three stocks carry a Zacks Rank #2 (Buy).
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