Red Robin FY2Q net income, sales up
by Meat&Poultry staff
GREENWOOD VILLAGE, Colo. – Red Robin Gourmet Burgers Inc. reported for the 12 weeks ended July 14 net income was $11.1 million vs. $7.7 million in same period last year. Year to date, net income was $20.6 million compared to $18.3 million for the comparable period in 2012.
Total revenues increased 6.5 percent to $238.3 million; company-owned comparable restaurant revenues increased 4.3 percent compared to the same period a year ago. Year to date through the fiscal second quarter of 2013, comparable restaurant net revenues increased 3.1 percent compared to a year ago and were driven by a 3.7 percent increase in average guest check, partially offset by a 0.6 percent decrease in guest counts.
“Our most recent performance marks 12 consecutive quarters of same-store sales growth and continued expansion of our operating margins,” said Steve Carley, chief executive officer. As of the end of the second quarter of 2013, there were 339 company-owned Red Robin restaurants, five Red Robin’s Burger Works and 133 franchised Red Robin restaurants – a total of 477 locations. In the second quarter of 2013, the company opened two new Red Robin restaurants.