Red Robin Gourmet Burgers expansion plan includes Donatos Pizza at more than 200 stores by year end
Category: Red Robin Gourmet Burgers (RRGB)
Date: 1 July 2021 Stock price of RRGB : $33.11 Market Capital Of Red Robin Gourmet Burgers: $519.2 million We cover the latest press release from Red Robin Gourmet Burgers (RRGB) in which the group announced that they will add Donatos Pizza to an additional 120 locations taking the total number of Donatos Pizza added to their stores to over 200 by the end of 2021 as the group starts focusing more on off premise consumption
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Our continued market rollout featuring Donatos pizza as yet another family-friendly menu offering has been well-received by Guests," said Jonathan Muhtar, Red Robin Executive Vice President & Chief Concept Officer "
More About Red Robin Gourmet Burgers
Red Robin Gourmet Burgers, Inc. (www.redrobin.com), is a casual dining restaurant chain founded in 1969 that operates through its wholly-owned subsidiary, Red Robin International, Inc., and under the trade name, Red Robin Gourmet Burgers and Brews. We believe nothing brings people together like burgers and fun around our table, and no one makes moments of connection over craveable food more memorable than Red Robin. We serve a variety of burgers and mainstream favorites to Guests of all ages in a casual, playful atmosphere. In addition to our many burger offerings, Red Robin serves a wide array of salads, appetizers, entrees, desserts, signature beverages and Donatos® pizza at select locations. It's now easy to enjoy Red Robin anywhere with online ordering available for to-go, delivery and catering. There are more than 540 Red Robin restaurants across the United States and Canada, including those operating under franchise agreements. Red Robin… YUMMM®!
More About Donatos Pizza
Donatos Pizza is a pizza delivery restaurant franchisor headquartered in Gahanna, Ohio, United States. It has nearly 200 locations in ten states, with the majority of locations in Ohio. Donatos is also served at several venue outlets including Ohio Stadium and the Smithsonian National Air and Space Museum
Red Robin to focus on off premise business by adding more than 200 Donatos by year end
Red Robin plans to add Donatos pizza to approximately 120 additional restaurants by the end of 2021, resulting in more than 200 locations. In Q2 of 2021, 41 Red Robin locations rolled out Donatos, including restaurants in six new states: Idaho, New Mexico, Utah, Nevada, Oregon and Washington. Donatos pizza was also added to Red Robin locations in Arizona, as well as its founding market, Seattle. The partnership will expand to several East Coast Red Robin restaurants in Maryland and Virginia in Q3, followed by a California expansion through the back half of the year.
As a result of the market expansion, more Red Robin Guests will now be able to enjoy freshly prepared premium pizzas with edge-to-edge toppings as well as gourmet burgers, brews and shakes under the same roof. Donatos pizza will be available in restaurants for dine in and for pickup or delivery through the Red Robin website.
Donatos continues to be a hit with Red Robin anticipating annual pizza sales of more than $60MM and profitability of more than $25MM by 2023. The introduction of a limited-time Donatos cauliflower crust menu option in Q1 was so well-received it became a permanent menu item.
"Our continued market rollout featuring Donatos pizza as yet another family-friendly menu offering has been well-received by Guests," said Jonathan Muhtar, Red Robin Executive Vice President & Chief Concept Officer. "Our Donatos locations consistently out-perform our non-pizza restaurants and we continue to be pleased with sales in our newest markets."
"Our partnership with Red Robin has allowed us to open our distribution line across the entire country," said Tom Krouse, President and CEO of Donatos Pizza. "What better way to expand than with a likeminded, family-friendly partner that can help bring Donatos to the rest of the pie-loving nation beyond the Midwest?"
As a result of the market expansion, more Red Robin Guests will now be able to enjoy freshly prepared premium pizzas with edge-to-edge toppings as well as gourmet burgers, brews and shakes under the same roof. Donatos pizza will be available in restaurants for dine in and for pickup or delivery through the Red Robin website.
Donatos continues to be a hit with Red Robin anticipating annual pizza sales of more than $60MM and profitability of more than $25MM by 2023. The introduction of a limited-time Donatos cauliflower crust menu option in Q1 was so well-received it became a permanent menu item.
"Our continued market rollout featuring Donatos pizza as yet another family-friendly menu offering has been well-received by Guests," said Jonathan Muhtar, Red Robin Executive Vice President & Chief Concept Officer. "Our Donatos locations consistently out-perform our non-pizza restaurants and we continue to be pleased with sales in our newest markets."
"Our partnership with Red Robin has allowed us to open our distribution line across the entire country," said Tom Krouse, President and CEO of Donatos Pizza. "What better way to expand than with a likeminded, family-friendly partner that can help bring Donatos to the rest of the pie-loving nation beyond the Midwest?"
Red Robin Gourmet Burgers (RRGB) stock price chart over the last 5 years
The image below shows the stock price history of Red Robin Gourmet Burgers (RRGB) over the last 5 years. And its not been good time for RRGB stockholders, with the stock decreasing by -31.2% over the last 5 years. No investor would want to see those type of returns
The stock of Red Robin Gourmet Burgers is trading at a lot closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of Red Robin Gourmet Burgers stock is positive at this point in time
The stock of Red Robin Gourmet Burgers is trading at a lot closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of Red Robin Gourmet Burgers stock is positive at this point in time
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