Red Robin CFO Resigns, Interim Named
June 14 2016 - 05:40PM
Dow Jones News
Red Robin Gourmet Burgers Inc. said Tuesday it has named an
interim chief financial officer to take over for the outgoing
Stuart Brown, who is slated to resign July 15.
The restaurant chain said Terry Harryman, currently Red Robin's
chief accounting officer and controller, will take over for Mr.
Brown after his departure. Red Robin said Mr. Brown was leaving to
pursue an unspecified "opportunity outside the restaurant
industry." Mr. Brown joined Red Robin in 2011.
Last month, the chain reported that sales for its latest quarter
slipped with fewer visitors to its namesake casual-dining
restaurants. Red Robin then cut its revenue outlook for the year to
8% growth down from a previous estimate of 8.5% to 9.5% growth.
Competition among burger chains has been intensifying recently
with the entry of fast-casual chains such as Shake Shack Inc. and
others. More traditional burger chains have tried to upgrade their
offerings amid the growing popularity of the newer chains.
Red Robin has been renovating and rebranding many of its stores,
remodeling more than 150 restaurants in 2015, with plans to
renovate 70 in the current year. The company said it closed the
latest quarter with 443 company-owned Red Robin restaurants.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
June 14, 2016 17:25 ET (21:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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