Red Robin Gourmet Burgers Inc. (RRGB Quick QuoteRRGB - Free Report) recently announced that it will open a new Red Robin Gourmet Burgers and Brews restaurant in Indiana on Jul 25. The outlet will be located at the chief entrance of College Mall near Dicks Sporting Goods.

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.

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 to Alex's Lemonade Stand Foundation, a non-profit organization.

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Red Robin has been exploring opportunities in untapped markets of the U.S., including Florida, New York, New Jersey, Chicago and Texas to further enhance its domestic presence.Keeping in line with its expansion plans, the company opened two new Red Robin Gourmet Burgers and Brews restaurants – one each in Florida and Arizona on Jul 18.

Meanwhile, initiatives such as menu innovation, in addition to its effective marketing strategy and remodeling programs should aid in reviving its brands.

Zacks Rank & Stocks to Consider

Red Robin currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the same industry are Dave & Buster's Entertainment, Inc. (PLAY Quick QuotePLAY - Free Report) , Famous Dave's of America Inc. (DAVE Quick QuoteDAVE - Free Report) , and Carrols Restaurant Group, Inc. (TAST Quick QuoteTAST - Free Report) . All these stocks sport a Zacks Rank #1 (Strong Buy).

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