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Red Robin Gourmet Burgers -6% after comp sales drop

  • Red Robin Gourmet Burgers (NASDAQ:RRGB) reports comparable restaurant revenue fell 3.4% in Q3 on a 1.9% decrease in traffic.
  • Off-premise sales increased 22.7% during the quarter to account for 10.1% of total food and beverage sales.
  • Cost of sales as a percentage of revenue remained flat at 23.8%.
  • Restaurant labor costs as a percentage of restaurant revenue remained flat at 35.3% of sales.
  • Looking ahead, the restaurant company FY18 EPS of $1.60 to $1.80 vs. $1.89 consensus.
  • Previously: Red Robin Gourmet Burgers beats by $0.05, misses on revenue (Nov. 6)
  • RRGB -6.1% AH.

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Red Robin Gourmet Burgers, Inc.