Plus   Neg

Red Robin Gourmet Burgers Q4 Loss Narrows

Red Robin Gourmet Burgers Inc. (RRGB) reported that its net loss for the fourth-quarter narrowed to $7.7 million or $0.60 per share from $10.6 million or $0.82 per share for the same period a year ago.

Adjusted net loss was $4.7 million for the fourth quarter of 2019 compared to adjusted net income of $5.4 million for the same period a year ago.

Total revenues, which primarily include Company-owned restaurant revenue and franchise royalties, decreased 1.2% to $302.9 million in the fourth quarter of 2019, from $306.8 million in the fourth quarter of 2018.

Restaurant revenue decreased $4.1 million due to a $7.8 million decrease from restaurant closures, partially offset by a $3.7 million, or 1.3%, increase in comparable restaurant revenue.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.16 per share and revenues of $302.79 million. Analysts' estimates typically exclude special items.

For 2020, the company expects net income of at least $2 million, including a tax benefit of $10 million to $12 million; comparable restaurant revenue growth in the low single digits.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT