Casual dining restaurant operator,
Red Robin Gourmet Burgers Inc.
), is set to unveil a new restaurant in Baltimore, MD shortly.
This is the sixth outlet of the company's targeted opening of 20
outlets in 2013 and bears evidence to its strategy of expanding
in the lucrative domestic market.
The restaurant will be located at the famous Waugh Chapel
Shopping Center. Red Robin's value offerings and the contemporary
ambience will drive its sales, going ahead.
As per the National Restaurant Association, Maryland's
restaurant industry contributes considerably to the state's
revenues. According to the research organization, Maryland's
restaurants are expected to record $10.3 billion in sales in
2013. High demand and high spending ability in Maryland are
favorable to the sector's growth.
Maryland's capital, Annapolis, and its largest city,
Baltimore, already boast a host of renowned restaurant operators
The Wendy's Company
Burger King Worldwide, Inc.
Currently, Red Robin operates only 13 units in Maryland, which
makes it a relatively newer market for the company as compared
with California which has as many as 70 Red Robin restaurants.
Hence, the company has decided to further expand in Maryland.
The Colorado-based restaurateur is also exploring development
opportunities in several underpenetrated markets such as Florida,
New York, New Jersey, Chicago and Texas to further strengthen its
presence in the U.S. Recently, the company opened a unit in
Chicago which has strong growth prospects and potential to record
$21.7 billion in sales 2013.
Moreover, this Zacks Rank #3 (Hold) company, which currently
boasts more than 470 restaurants across the United States and
Canada, is keen on establishing the presence of its smaller
prototype restaurants, Red Robin's Burger Works. The company's
smaller format restaurants will likely accelerate its growth in
non-traditional locations and also improve return on invested
capital, going ahead.
BURGER KING WWD (BKW): Free Stock Analysis
MCDONALDS CORP (MCD): Free Stock Analysis
RED ROBIN GOURM (RRGB): Free Stock Analysis
WENDYS CO/THE (WEN): Free Stock Analysis
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