Red Robin Gourmet Burgers, Inc. ( RRGB Quick Quote RRGB - Free Report) recently entered into a new multi-year contract with an on-premise technology platform — Ziosk. Earlier, the company had associated with Ziosk in 2015 for the rollout of tablets as well as to support initiatives such as pay on demand and integration with the Red Robin Royalty loyalty program. Since then, millions of guests have enrolled in Red Robin Royalty through a Ziosk tablet and signed in to accrue and redeem rewards. Nonetheless, the new contract is likely to facilitate operational efficiency, guest frequency through their loyalty program and secure contactless payment on demand (through Apple Pay and Google Pay). Moreover, the agreement paves path for upgraded field tablets by the third quarter 2021. The tablets featuring EMV and NFC contactless payment on demand will be integrated to the upgraded Red Robin Royalty loyalty platform (scheduled to launch later this year). With respect to the association, Jonathan Muhtar, Red Robin executive vice president and chief concept officer, stated, “We appreciate the long-standing relationship between our two companies and look forward to continuing our partnership to enhance the service experience at Red Robin.” Image Source: Zacks Investment Research Focus on loyalty Program
A key long-term growth driver for the company is its guest loyalty program — Red Robin Royalty — initiated in 2011 with a goal to increase guest count. The company engages guests through this program with offers designed to increase the frequency of visits. The company has more than nine million Royalty members. It also informs its enrolled guests about new menu items to generate awareness and for trials. Also, one of the key benefits the company is realizing with off-premise on its loyalty program is the ability to reach guests on holidays. Nonetheless, the enhancement to the program has enabled the company to drive sales through personalized target offers directly to its royalty members.
So far this year, shares of Red Robin have gained 66.5% compared with the industry’s 9.8% growth. Zacks Rank & Other Key Picks
Red Robin currently carries a Zacks Rank #2 (Buy). You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Some other top-ranked stocks in the same space include Chuy's Holdings, Inc. ( CHUY Quick Quote CHUY - Free Report) , Dine Brands Global, Inc. ( DIN Quick Quote DIN - Free Report) and Texas Roadhouse, Inc. ( TXRH Quick Quote TXRH - Free Report) , each sporting a Zacks Rank #1. Chuy's Holdings has a trailing four-quarter earnings surprise of 127.6%, on average. Dine Brands’ 2021 earnings are expected to surge 269.3%. Texas Roadhouse has a three-five year earnings per share growth rate of 10%. More Stock News: This Is Bigger than the iPhone!
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