Red Robin Gourmet Burgers, Inc. Announces Impairment Charges for the Twelve Weeks Ended December 29, 2019; Provides Earnings Guidance for 2020
February 25, 2020 at 04:05 pm EST
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Red Robin Gourmet Burgers, Inc. announced impairment charges for the twelve weeks ended December 29, 2019. For the period, the company announced asset impairment of $1,030,000 against $18,483,000 a year ago.
For 2020, the company currently expects comparable restaurant revenue growth in the low single digits; Incremental restaurant-level operating profit expected to be offset by pre-opening expenses, marketing expenses, and project expenses associated with growth initiatives; and net income of at least $2 million, including a tax benefit of $10 million to $12 million.
Red Robin Gourmet Burgers, Inc., together with its subsidiaries, primarily operates, franchises, and develops casual dining restaurants in North America. The Company's menu features its signature product, a line of Gourmet Burgers with layers of fresh ingredients and fresh ground beef. It also offers burgers made with other proteins including chicken breasts (grilled or fried), turkey patties, as well as a proprietary vegetarian patty and the Impossible plant-based burger patty. The Company offer a selection of buns, including gluten free, sesame, brioche, and lettuce wraps, with a variety of toppings, including house-made sauces, crispy onion straws, sauteed mushrooms, several cheese choices, and a fried egg. It serves an array of other mainstream items, such as Donatos pizza, wings, salads, other entrees, and desserts. The Companyâs beverage categories include alcoholic and non-alcoholic specialty drinks, cocktails, wine, and a variety of national and craft beers.
RED ROBIN GOURMET BURGERS, INC. 
