In order to expand in the lucrative domestic market, Greenwood
Village, Colo.-based casual dining restaurateur,
Red Robin Gourmet Burgers Inc.
) will shortly unveil a restaurant in the Greater Orlando area.
Currently, the company operates 495 restaurants across the United
States and Canada.
The company also announced that it will contribute the sales
from its signature Freckled Lemonade during the grand opening
week, which will start from Mar 3 to Mar 9, to the non-profit
entity - Alex's Lemonade Stand Foundation. Positioned on the
Rinehart Road, the spacious unit offering signature food items
like Royal Red Robin Burger and Bottomless Steak Fries will add
to the company's sales.
In order to avoid market saturation, Red Robin is now
venturing into several under-served locations with solid
potential, especially Florida where the restaurateur currently
operates only 16 restaurants.
The restaurant industry in Florida is considered to be one of
the largest in the U.S. High demand and high spending ability of
one of the most populous and wealthiest states in the U.S. are
favorable to the sector's growth. According to the National
Restaurant Association, the state's restaurants are expected to
record sales growth of 4.5% in 2014. We consider this opening
favorable for Red Robin's further expansion plans in the
Red Robin's unit expansion remains unruffled amid an uncertain
economy. With the resurgence of consumer confidence, management
has accelerated its unit openings and planned to open 20 Red
Robin units in 2014.
Red Robin has a Zacks Rank #3 (Hold). Some better-ranked
stocks in the restaurant industry include
Fiesta Restaurant Group, Inc.
Brinker International, Inc.
Buffalo Wild Wings Inc.
). While Fiesta Restaurant sports a Zacks Rank #1 (Strong Buy),
Brinker and Buffalo Wild Wings carry a Zacks Rank #2 (Buy).
BUFFALO WLD WNG (BWLD): Free Stock Analysis
BRINKER INTL (EAT): Free Stock Analysis
FIESTA RESTRNT (FRGI): Free Stock Analysis
RED ROBIN GOURM (RRGB): Free Stock Analysis
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