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Colorado-based Red Robin lays out turnaround plan after 'very disappointing' year

Ed Sealover
Colorado-based Red Robin lays out turnaround plan after 'very disappointing' year

After suffering through a “very disappointing” 2018, Red Robin Gourmet Burgers (Nasdaq: RRGB) leaders outlined a five-part plan on Tuesday designed to return the struggling Greenwood Village-based chain to positive revenue growth and to same-store sales growth in 2019. For the full 2018 fiscal year, company officials reported during an earnings call, Red Robin saw revenues fall 3.5 percent to $1.5 billion, leaving the company with a $6.4 million net income loss. Adjusted earnings per share fell 30.5 percent to $1.73, while comparable restaurant sales dropped by 2.6 percent.