Red Robin Reevaluates Strategy For Company’s Fast Casual Platform
Company Closes Nine “Burger Works” Units, Rebranding Others As “Red Robin Express”
GREENWOOD VILLAGE, Colo. - (BUSINESS WIRE) - October 5, 2016 - 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 inWashington 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 Robinoffers 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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