Greenwood Village / CO. (rrgb) Red Robin Gourmet Burgers Inc., a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the fiscal first quarter ended April 17, 2022.
Results for the first quarter versus Q1-2021
- Restaurant revenue of USD 380.6 million increased 19.4 percent compared to 2021;
- Eighth consecutive quarter of sustained off-premises sales dollars of more than double pre-pandemic levels;
- Comparable restaurant revenue increased 19.7 percent compared to 2021;
- Approximately 200 restaurants were serving Donatos® pizza prior to 2022, with comparable restaurant revenue growth of Donatos® locations outperforming non-Donatos® locations by more than 5 percent compared to 2019;
- Net loss of USD 3.1 million improved USD 5.6 million compared to 2021;
- Restaurant level operating profit margin decreased by 170 basis points driven primarily by commodity and labor cost inflation, partially offset by sales leverage;
- Adjusted Ebitda(1) (a non-GAAP metric) of USD 28.0 million improved USD 0.6 million compared to 2021;
- Launched a new redrobin.com website in March offering an improved online ordering experience that we expect will drive increased frequency of guest visits and higher order conversion; and,
- Completed a new USD 225 million, five-year credit agreement that provides us with long-term flexibility to strategically invest in our business and create value for our shareholders.
For additional information please read the Company’s PDF file below (113 KB):20220528-RED-ROBIN-Q1-2022