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Red Robin (RRGB) to Open Outlets in Idaho & Washington

Zacks Equity Research

Red Robin Gourmet Burgers Inc. RRGB announced that it will open two new Red Robin Gourmet Burgers and Brews restaurants in Idaho and Washington on Jun 13. The Idaho outlet will be located at Chubbuck at 4021 Pole Line Rd. at the Pole Line and Yellow Stone junction on the South end of Pine Ridge Mall. The Washington outlet will be situated in the Battle Ground region at 1112 S.W. Scotton Way in the Walmart Shopping Center.

Apart from the signature items like Royal Red Robin Burger, Bottomless Steak Fries, Smoke & Pepper Burger, and the Red's Tavern Double, the menu will also feature Freckled Lemonade. Moreover, the restaurant will serve D.G.B., Black & Bleu burger, The Marco Pollo, the Southern Charm Burger, along with a variety of salads, entrees, soups and wraps.

As part of the opening celebrations, the company will donate the proceeds from the sales of Freckled Lemonade at both the restaurants during the opening week to Alex's Lemonade Stand Foundation, a non-profit organization.

Red Robin has been exploring opportunities in untapped markets of the U.S., including Florida, New York, New Jersey, Chicago and Texas. We believe that the company’s plan to accelerate unit growth should boost long-term revenues. Further, Red Robin’s initiatives such as menu innovation, in addition to its effective marketing strategy and remodeling programs, should revive its brands.

Red Robin currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the same industry are Restaurant Brands International Inc. QSR, Famous Dave's of America Inc. DAVE, Carrols Restaurant Group, Inc. TAST. All these stocks sport a Zacks Rank #1 (Strong Buy).

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