Friday, May 31, 2019

Red Robin to close restaurants as part of turnaround plan

Yahoo Finance
Red Robin Gourmet Burgers (Nasdaq: RRGB), after suffering through another disappointing quarter to begin 2019, will close 10 under-performing stores today — just one step the chain will take in the near future to attempt to return to sustainable, profitable growth after recording its fifth straight quarter of declining same-store sales. 

Chief Financial Officer Lynn Schweinfurth did not specify which of the full-service restaurant chain's locations will shutter but noted that seven of them are based within enclosed malls — a segment of the company's business that is hurting even more than other locations.. . . more