Red Robin Reevaluates Strategy For Company’s Fast Casual Platform
October 05 2016 - 8:30AM
Business Wire
Company Closes Nine “Burger Works” Units,
Rebranding Others As “Red Robin Express”
Red Robin Gourmet Burgers, Inc., (NASDAQ:RRGB), a casual dining
restaurant chain serving an innovative selection of high-quality
gourmet burgers in a family-friendly atmosphere, announced the
closing of some of its Red Robin Burger Works locations and
rebranding of others as Red Robin Express as part of a strategic
reevaluation of the Company’s alternative fast casual platform.
Red Robin closed nine of the existing 12 Red Robin Burger Works
locations on September 30 including five units in Chicago, two in
Washington D.C., one in Ft. Collins, Colo., and one in Boulder,
Colo. Two of the locations in Denver and one in Clakamas, Ore.,
will remain open and be renamed Red Robin Express. The Denver Red
Robin Express locations will also be remodeled as part of the
rebranding effort.
“The restaurant industry remains intensely competitive both in
casual dining, where Red Robin has become the burger authority over
a span of more than 50 years, and in the fast casual burger
segment, which we entered more recently,” said Denny Marie Post,
Red Robin Gourmet Burgers, Inc. chief executive officer. “We’ve
gained considerable knowledge since opening the first of our
smaller, fast casual locations in 2011. We are now conducting a
strategic review of how this alternative platform can better
support our brand as a whole and best serve our Guests.”
The rebranding of the Company’s alternative platform as Red
Robin Express is intended to further differentiate the smaller,
limited-service locations from full-service Red Robin casual dining
restaurants. The reevaluation of the platform is part of the
Company’s comprehensive effort to strengthen business performance,
regain momentum and take market share. The Company will continue to
explore smaller units that meet the growing demand for carry out
and delivery.
The renaming of the three remaining locations with new Red Robin
Express signage and remodeling of the two Denver Red Robin Express
restaurants is expected to be completed in late 2016 or early
2017.
About Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB)
Red Robin Gourmet Burgers, Inc. (www.redrobin.com), a casual dining restaurant
chain founded in 1969 that operates through its wholly-owned
subsidiary, Red Robin International, Inc., and under the trade
name Red Robin Gourmet Burgers and Brews, is the Gourmet
Burger Authority™, famous for serving more than two dozen
craveable, high-quality burgers with Bottomless Steak
Fries® in a fun environment welcoming to guests of all
ages. Whether a family dining with kids, adults grabbing a
drink at the bar, or teens enjoying a meal, Red Robin offers an
unparalleled experience for its guests. In addition to its
many burger offerings, Red Robin serves a wide variety of salads,
soups, appetizers, entrees, desserts, and signature
beverages. Red Robin offers a variety of options behind the
bar, including its extensive selection of local and regional beers,
and innovative adult beer shakes and cocktails, earning the
restaurant a VIBE Vista Award for Best Beer Program in a
Multi-Unit Chain Restaurant. There are more than 540 Red Robin
restaurants across the United States and Canada, including
those operating under franchise agreements. Red Robin… YUMMM®!
Connect with Red Robin on Facebook, Instagram, and Twitter.
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For media relations:Coyne PRJoanna DiNizio,
973-588-2000orFor investor relations:Terry Harryman,
303-846-6000Chief Financial Officer
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