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Red Robin Gourmet Burgers Q1 revenues increased 4.1%

Staff Writer | May 17, 2017
Red Robin Gourmet Burgers reported financial results for the fitst quarter ended April 16, 2017.
Red Robin
Red Robin Gourmet Burgers   Restaurant revenue increased $24.8 million
Total revenues, which primarily include company-owned restaurant revenue and franchise royalties, increased 4.1% to $418.6 million in the first quarter of 2017 from $402.1 million in the first quarter of 2016.

Restaurant revenue increased $24.8 million primarily due to new restaurant openings and acquired restaurants, partially offset by decreases of $4.6 million, or 1.2%, in comparable restaurant revenue and $3.8 million from closed restaurants.

Franchise and other revenue decreased $0.3 million, primarily driven by the loss of royalties from 13 franchised restaurants acquired during the first quarter of 2016.

System-wide restaurant revenue (which includes franchised units) for the first quarter of 2017 totaled $498.8 million, compared to $493.0 million for the first quarter of 2016.

Comparable restaurant revenue decreased 1.2% in the first quarter of 2017 compared to the same period a year ago, driven by a 1.7% decrease in guest counts, partially offset by a 0.5% increase in average guest check.

The increase in average guest check comprised a 1.6% increase in pricing and a 1.1% decrease in menu mix.

Restaurant-level operating profit margin (a non-GAAP financial measure) was 20.7% in the first quarter of 2017 compared to 22.5% in the same period a year ago.

The 180 basis point margin decrease in the first quarter of 2017 resulted from a 170 basis point increase in labor costs and a 70 basis point increase in other restaurant operating expenses, partially offset by a 40 basis point decrease in cost of sales and a 20 basis point decrease in occupancy costs.


 

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