Red Robin 2Q operating profit margin, revenue up
Aug. 12, 2011
by Meat&Poultry Staff
GREENWOOD VILLAGE, Colo. – Red Robin Gourmet Burgers Inc. announced for its fiscal second quarter (12 weeks ended July 10) compared to the second quarter in 2010, restaurant-level operating profit margin increased to 20.8 percent from 18.3 percent and restaurant revenue increased 7.1 percent to $212.1 million. Company-owned comparable restaurant sales increased 3.1 percent and restaurant-level operating profit increased 21.6 percent to $44.1 million.
Six new company-owned Red Robin restaurants and one new franchised restaurant opened during the fiscal second quarter 2011. As of the end of the fiscal second quarter 2011, there were 321 company-owned and 137 franchised Red Robin restaurants.
“We’re pleased with our second quarter 2011 performance, which represents our fourth consecutive quarter of higher same store sales and third consecutive quarter of higher earnings,” said Steve Carley, CEO.
Looking ahead, the company expects commodity inflation of 5.0 percent to 5.5 percent for the full fiscal year 2011 mainly due to the continued increase in ground beef costs. Based on the company’s development plans and other infrastructure and maintenance costs, the company expects total fiscal year 2011 capital expenditures to be between $43 million and $45 million.