We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Red Robin (RRGB) Set to Open New Outlet in Tennessee
Read MoreHide Full Article
Red Robin Gourmet Burgers, Inc. (RRGB - Free Report) plans to open a new Red Robin Gourmet Burgers and Brew restaurant at Spring Hill, TN on Oct 24, 2016. The outlet will be located at 2032 Crossings Circle across from Kohl’s.
Apart from the signature items like Royal Red Robin Burger, Bottomless Steak Fries, Smoke & Pepper Burger, and the Red's Tavern Double, the menu will also feature Freckled Lemonade. Moreover, the restaurant will serve D.G.B., Black & Bleu burger, The Marco Pollo, the Southern Charm Burger, along with a variety of salads, entrees, soups and wraps.
Currently, there are more than 540 Red Robin restaurants across the U.S. and Canada. Keeping in line with its expansion plans, the company is continuing to explore untapped domestic markets. Recently, it added outlets at Texas, California, Georgia, Idaho, New York, Florida, Oregon, and Indiana, to name a few.
However, Red Robin loses out in terms of international presence. Whereas other restaurateurs like Yum! Brands, Inc. (YUM - Free Report) , McDonalds Corporation (MCD - Free Report) and Papa John’s International, Inc. (PZZA - Free Report) are following aggressive global expansion policies, Red Robin seems to be weak on this front.
Moreover, the company lowered its total revenue growth guidance for 2016 from 8% to 5%. The comps guidance was lowered to a decline of almost 2%, which compared unfavorably with the previous expectation of flat to slightly negative growth. Estimates have also been going down ahead of the company’s third quarter earnings release.
Nonetheless, Red Robin’s efforts to expand its footprint through accelerated unit growth bode well. Moreover, we expect the company’s initiatives such as menu innovation, focus on increasing speed of service, effective marketing strategies and remodeling programs to aid top and bottom-line performance.
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Red Robin (RRGB) Set to Open New Outlet in Tennessee
Red Robin Gourmet Burgers, Inc. (RRGB - Free Report) plans to open a new Red Robin Gourmet Burgers and Brew restaurant at Spring Hill, TN on Oct 24, 2016. The outlet will be located at 2032 Crossings Circle across from Kohl’s.
Apart from the signature items like Royal Red Robin Burger, Bottomless Steak Fries, Smoke & Pepper Burger, and the Red's Tavern Double, the menu will also feature Freckled Lemonade. Moreover, the restaurant will serve D.G.B., Black & Bleu burger, The Marco Pollo, the Southern Charm Burger, along with a variety of salads, entrees, soups and wraps.
Currently, there are more than 540 Red Robin restaurants across the U.S. and Canada. Keeping in line with its expansion plans, the company is continuing to explore untapped domestic markets. Recently, it added outlets at Texas, California, Georgia, Idaho, New York, Florida, Oregon, and Indiana, to name a few.
However, Red Robin loses out in terms of international presence. Whereas other restaurateurs like Yum! Brands, Inc. (YUM - Free Report) , McDonalds Corporation (MCD - Free Report) and Papa John’s International, Inc. (PZZA - Free Report) are following aggressive global expansion policies, Red Robin seems to be weak on this front.
RED ROBIN GOURM Price
RED ROBIN GOURM Price | RED ROBIN GOURM Quote
Moreover, the company lowered its total revenue growth guidance for 2016 from 8% to 5%. The comps guidance was lowered to a decline of almost 2%, which compared unfavorably with the previous expectation of flat to slightly negative growth. Estimates have also been going down ahead of the company’s third quarter earnings release.
Nonetheless, Red Robin’s efforts to expand its footprint through accelerated unit growth bode well. Moreover, we expect the company’s initiatives such as menu innovation, focus on increasing speed of service, effective marketing strategies and remodeling programs to aid top and bottom-line performance.
The company currently holds a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>