Red Robin Gourmet Burgers, Inc. (RRGB - Free Report) reported unimpressive fourth-quarter fiscal 2019 results, with the top and the bottom line missing the Zacks Consensus Estimate. Decline in traffic and soft restaurant revenues have hurt the quarterly results.
The company reported loss per share of 36 cents, wider than the Zacks Consensus Estimate of a loss of 29 cents. In the year-ago quarter, the company had reported adjusted earnings of 43 cents.
Revenues came in at $302.95 million, which missed the Zacks Consensus Estimate of $303 million and fell 1.3% from the prior-year quarter’s tally. The downside was caused by decline in restaurant revenues.
Comparable restaurant revenues inched up 1.3% year over year (on a constant-currency basis), driven by a 4.7% gain in average check and partially offset by a 3.4% decline in guest count. The increase in average guest check can be attributed to a 1.1% rise in menu mix, 1.8% hike in pricing and a 1.8% increase from lower discounting.
Notably, the increase in menu mix was primarily due to its current menu and promotional strategy.
Red Robin Gourmet Burgers, Inc. Price, Consensus and EPS Surprise