{"id":13444,"date":"2023-05-25T02:11:51","date_gmt":"2023-05-25T06:11:51","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/red-robin-rallies-on-more-optimistic-sales-forecast-as-first-quarter-results-beat\/"},"modified":"2023-05-25T02:11:52","modified_gmt":"2023-05-25T06:11:52","slug":"red-robin-rallies-on-more-optimistic-sales-forecast-as-first-quarter-results-beat","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13444","title":{"rendered":"Red Robin rallies on more optimistic sales forecast, as first-quarter results beat"},"content":{"rendered":"
\n

Shares of Red Robin Gourmet Burgers Inc.
\n RRGB,
\n +3.51%<\/bg-quote>
\n were up 5.5% after hours on Wednesday after the restaurant chain offered a more upbeat full-year sales forecast and reported a surprise per-share profit for its first quarter and revenue that came in above expectations. Red Robin said it expected same-store sales gains of between 2% and 4% this year, and total revenue of \u201cat least\u201d $1.3 billion, which was slightly more bullish than a prior forecast for \u201capproximately\u201d $1.3 billion. Analysts polled by FactSet expected full-year sales of $1.29 billion, with a same-store sales increase of 4.2%. Red Robin also bumped its restaurant operating profit to at least 13.5%, up from an earlier outlook for at least 13%, but forecast higher costs and capital expenses. For its first quarter, the chain reported a net loss of $3.1 million, or 19 cents a share, compared with $3.1 million, or 20 cents a share, in the same quarter last year. Revenue rose to $418 million from $395.6 million in the prior-year quarter. Adjusted for items like litigation contingencies, severance and restaurant closure costs, Red Robin earned 25 cents a share. Same-store sales rose 8.6%. Analysts polled by FactSet expected a 57-cent adjusted per-share loss, on revenue of $405.6 million, with an 8.5% same-store sales increase. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Red Robin Gourmet Burgers Inc. RRGB, +3.51% were up 5.5% after hours on Wednesday after the restaurant chain offered a more upbeat full-year sales forecast and reported a surprise per-share profit for its first quarter and revenue that came in above expectations. Red Robin said it expected same-store sales gains of between 2% […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-13444","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRed Robin rallies on more optimistic sales forecast, as first-quarter results beat | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Red Robin Gourmet Burgers Inc. 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