Red Robin Gourmet Burgers Inc.
) has recently announced that it will unveil a restaurant in Long
Island, NY on Jul 28, 2014. Located at West Babylon, NY on West
Montauk Highway, the restaurant will offer signature food items
like Royal Red Robin Burger and Bottomless Steak Fries, apart from
signature Freckled Lemonade.
During the grand opening week, from Jul 28 to Aug 3, 2014, the
company will contribute the sales from its signature Freckled
Lemonade to the non-profit entity - Alex's Lemonade Stand
Red Robin's unit expansion remains unruffled amid an uncertain
economy. With the resurgence of consumer confidence, management
accelerated unit openings. Currently, the company operates 500
restaurants across the United States and Canada.
Over the past three years, the company has opened a total of 48
restaurants, relocated three units while closing two. Moreover, the
company is exploring new development opportunities in untapped
markets of Florida, New York, New Jersey, Chicago and Texas to
further enhance its domestic presence.
Overall, we are encouraged with the company's initiatives including
menu innovation, effective marketing strategy, unit expansion and
remodeling programs to reinvigorate its brands. We believe the
company is well poised to sustain its growth momentum driven by
improved guest traffic and innovative offerings. The company has
been posting positive comps over the past three years, in sharp
contrast to peers who have been struggling amid a sluggish economic
Red Robin Gourmet Burgers sports a Zacks Rank #1 (Strong Buy).
Other players in the restaurant industry, which look attractive at
current levels, include
BJ's Restaurants, Inc.
Bloomin' Brands, Inc.
Chipotle Mexican Grill, Inc.
). All these stocks carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
RED ROBIN GOURM (RRGB): Free Stock Analysis
BLOOMIN BRANDS (BLMN): Free Stock Analysis
CHIPOTLE MEXICN (CMG): Free Stock Analysis
BJ'S RESTAURANT (BJRI): Free Stock Analysis
To read this article on Zacks.com click here.