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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Red Robin Gourmet Burgers Inc | NASDAQ:RRGB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.11 | 1.59% | 7.01 | 6.85 | 7.20 | 7.20 | 6.85 | 6.94 | 317,654 | 01:00:00 |
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ý
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Delaware
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84-1573084
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification No.)
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6312 S. Fiddler’s Green Circle, Suite 200 N
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Greenwood Village, CO
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80111
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(Address of principal executive offices)
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(Zip Code)
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Large accelerated filer
ý
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Accelerated filer
o
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Non-accelerated filer
o
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Smaller reporting company
o
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(Do not check if a smaller reporting company)
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Class
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Outstanding at May 16, 2016
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Common Stock, $0.001 par value per share
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13,647,035
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Page
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||
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||
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||
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(Unaudited)
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||||
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April 17, 2016
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December 27, 2015
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||||
Assets:
|
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||||
Current assets:
|
|
|
|
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||||
Cash and cash equivalents
|
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$
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25,167
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|
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$
|
22,705
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Accounts receivable, net
|
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15,110
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27,760
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||
Inventories
|
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28,679
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28,223
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||
Prepaid expenses and other current assets
|
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14,636
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18,052
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||
Total current assets
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83,592
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96,740
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||
Property and equipment, net
|
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657,536
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603,686
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||
Goodwill
|
|
97,282
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|
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81,957
|
|
||
Intangible assets, net
|
|
44,799
|
|
|
39,573
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|
||
Other assets, net
|
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24,660
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|
|
18,023
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||
Total assets
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$
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907,869
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$
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839,979
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Liabilities and stockholders
’
equity:
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||||
Current liabilities:
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||||
Trade accounts payable
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$
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21,279
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$
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23,392
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Construction related payables
|
|
36,460
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28,692
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|
||
Accrued payroll and payroll-related liabilities
|
|
37,987
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|
47,587
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||
Unearned revenue
|
|
34,636
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48,392
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||
Accrued liabilities and other
|
|
38,515
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|
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29,610
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Total current liabilities
|
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168,877
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177,673
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Deferred rent
|
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68,399
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66,470
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Long-term debt
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254,375
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202,875
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Long-term portion of capital lease obligations
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|
7,257
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|
7,441
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Other non-current liabilities
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16,628
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|
11,209
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Total liabilities
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515,536
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465,668
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Stockholders
’
equity:
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Common stock, $0.001 par value: 45,000 shares authorized; 17,851 and 17,851 shares issued; 13,652 and 13,628 shares outstanding
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18
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18
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Preferred stock, $0.001 par value: 3,000 shares authorized; no shares issued and outstanding
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—
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|
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—
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Treasury stock 4,199 and 4,223 shares, at cost
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(166,371
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)
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(167,339
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)
|
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Paid-in capital
|
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207,344
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|
205,995
|
|
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Accumulated other comprehensive loss, net of tax
|
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(3,899
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)
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(5,379
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)
|
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Retained earnings
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355,241
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341,016
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Total stockholders
’
equity
|
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392,333
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|
|
374,311
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|
||
Total liabilities and stockholders
’
equity
|
|
$
|
907,869
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|
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$
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839,979
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Sixteen Weeks Ended
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||||||
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April 17, 2016
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April 19, 2015
|
||||
Revenues:
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||||
Restaurant revenue
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$
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396,770
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$
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388,509
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Franchise royalties, fees, and other revenues
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5,356
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6,392
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Total revenues
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402,126
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394,901
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Costs and expenses:
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||||
Restaurant operating costs (excluding depreciation and amortization shown separately below):
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Cost of sales
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92,325
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97,950
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Labor
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132,984
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124,356
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Other operating
|
|
49,708
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46,584
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Occupancy
|
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32,498
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|
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30,147
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|
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Depreciation and amortization
|
|
23,951
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|
|
23,003
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|
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Selling, general, and administrative expenses
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47,288
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|
|
48,061
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Pre-opening and acquisition costs
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2,372
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|
|
955
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|
||
Asset impairment
|
|
825
|
|
|
—
|
|
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Total costs and expenses
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381,951
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371,056
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Income from operations
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20,175
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23,845
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|
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Other expense:
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Interest expense, net and other
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1,638
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1,060
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Income before income taxes
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18,537
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22,785
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Provision for income taxes
|
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4,312
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|
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6,220
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Net income
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$
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14,225
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|
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$
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16,565
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Earnings per share:
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Basic
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$
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1.04
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$
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1.18
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Diluted
|
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$
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1.03
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|
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$
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1.16
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Weighted average shares outstanding:
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||||
Basic
|
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13,635
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|
|
14,077
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Diluted
|
|
13,783
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|
|
14,275
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Sixteen Weeks Ended
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||||||
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|
April 17, 2016
|
|
April 19, 2015
|
||||
Net income
|
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$
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14,225
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|
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$
|
16,565
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Changes in derivative instrument:
|
|
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|
|
||||
Net change in fair value of interest rate swap
|
|
—
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|
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(3
|
)
|
||
Net loss reclassified into interest expense
|
|
—
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|
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23
|
|
||
Tax expense
|
|
—
|
|
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(8
|
)
|
||
Net change in derivative instrument
|
|
$
|
—
|
|
|
$
|
12
|
|
Foreign currency translation adjustment
|
|
$
|
1,480
|
|
|
(1,117
|
)
|
|
Other comprehensive income (loss), net of tax
|
|
$
|
1,480
|
|
|
$
|
(1,105
|
)
|
Total comprehensive income
|
|
$
|
15,705
|
|
|
$
|
15,460
|
|
|
|
Sixteen Weeks Ended
|
||||||
|
|
April 17, 2016
|
|
April 19, 2015
|
||||
Cash flows from operating activities:
|
|
|
|
|
||||
Net income
|
|
$
|
14,225
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|
|
$
|
16,565
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
||||
Depreciation and amortization
|
|
23,951
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|
|
23,003
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|
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Asset impairment
|
|
825
|
|
|
—
|
|
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Stock-based compensation expense
|
|
2,090
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|
|
1,446
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|
||
Other, net
|
|
(1,201
|
)
|
|
(2,238
|
)
|
||
Changes in operating assets and liabilities, net of business acquisition:
|
|
|
|
|
||||
Accounts receivable and other current assets
|
|
14,286
|
|
|
11,522
|
|
||
Trade accounts payable and accrued liabilities
|
|
174
|
|
|
(9,045
|
)
|
||
Unearned revenue
|
|
(12,702
|
)
|
|
(10,211
|
)
|
||
Other operating assets and liabilities, net
|
|
852
|
|
|
4,949
|
|
||
Net cash provided by operating activities
|
|
42,500
|
|
|
35,991
|
|
||
Cash flows from investing activities:
|
|
|
|
|
||||
Purchases of property, equipment, and intangible assets
|
|
(52,149
|
)
|
|
(31,580
|
)
|
||
Deposit on equipment purchase
|
|
—
|
|
|
(5,479
|
)
|
||
Acquisition of franchise restaurants, net of cash acquired
|
|
(39,984
|
)
|
|
—
|
|
||
Other investing activities
|
|
—
|
|
|
(207
|
)
|
||
Net cash used in investing activities
|
|
(92,133
|
)
|
|
(37,266
|
)
|
||
Cash flows from financing activities:
|
|
|
|
|
||||
Borrowings of long-term debt
|
|
137,000
|
|
|
95,500
|
|
||
Payments of long-term debt and capital leases
|
|
(85,671
|
)
|
|
(99,199
|
)
|
||
Tax benefit from exercise of stock options
|
|
94
|
|
|
1,193
|
|
||
Proceeds from exercise of stock options and employee stock purchase plan
|
|
592
|
|
|
2,947
|
|
||
Net cash provided by financing activities
|
|
52,015
|
|
|
441
|
|
||
Effect of exchange rate changes on cash
|
|
80
|
|
|
(127
|
)
|
||
Net change in cash and cash equivalents
|
|
2,462
|
|
|
(961
|
)
|
||
Cash and cash equivalents, beginning of period
|
|
22,705
|
|
|
22,408
|
|
||
Cash and cash equivalents, end of period
|
|
$
|
25,167
|
|
|
$
|
21,447
|
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow information
|
|
|
|
|
||||
Income taxes paid
|
|
$
|
1,046
|
|
|
$
|
1,076
|
|
Interest paid, net of amounts capitalized
|
|
$
|
1,484
|
|
|
$
|
1,486
|
|
Change in construction related payables
|
|
$
|
7,768
|
|
|
$
|
1,162
|
|
Balance, December 27, 2015
|
|
$
|
81,957
|
|
Acquisition
|
|
14,285
|
|
|
Translation adjustment
|
|
$
|
1,040
|
|
Balance, April 17, 2016
|
|
$
|
97,282
|
|
|
|
April 17, 2016
|
|
December 27, 2015
|
||||||||||||||||||||
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
|
|
Net
Carrying
Amount
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
|
|
Net
Carrying
Amount
|
||||||||||||
Intangible assets subject to amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Franchise rights
|
|
$
|
56,521
|
|
|
$
|
(25,039
|
)
|
|
$
|
31,482
|
|
|
$
|
50,878
|
|
|
$
|
(23,904
|
)
|
|
$
|
26,974
|
|
Favorable leases
|
|
13,931
|
|
|
(6,885
|
)
|
|
7,046
|
|
|
12,991
|
|
|
(6,643
|
)
|
|
6,348
|
|
||||||
Liquor licenses
|
|
10,193
|
|
|
(9,787
|
)
|
|
406
|
|
|
10,168
|
|
|
(9,751
|
)
|
|
417
|
|
||||||
|
|
$
|
80,645
|
|
|
$
|
(41,711
|
)
|
|
$
|
38,934
|
|
|
$
|
74,037
|
|
|
$
|
(40,298
|
)
|
|
$
|
33,739
|
|
Indefinite-lived intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Liquor licenses and other
|
|
$
|
5,865
|
|
|
$
|
—
|
|
|
$
|
5,865
|
|
|
$
|
5,834
|
|
|
$
|
—
|
|
|
$
|
5,834
|
|
Intangible assets, net
|
|
$
|
86,510
|
|
|
$
|
(41,711
|
)
|
|
$
|
44,799
|
|
|
$
|
79,871
|
|
|
$
|
(40,298
|
)
|
|
$
|
39,573
|
|
Remainder of 2016
|
|
$
|
3,276
|
|
2017
|
|
4,768
|
|
|
2018
|
|
4,554
|
|
|
2019
|
|
4,473
|
|
|
2020
|
|
3,945
|
|
|
Thereafter
|
|
17,918
|
|
|
|
|
$
|
38,934
|
|
|
Sixteen Weeks Ended
|
||||||
|
April 17, 2016
|
|
April 19, 2015
|
||||
Risk-free interest rate
|
1.2
|
%
|
|
1.4
|
%
|
||
Expected years until exercise
|
4.7
|
|
|
4.8
|
|
||
Expected stock volatility
|
39.3
|
%
|
|
40.6
|
%
|
||
Dividend yield
|
—
|
%
|
|
—
|
%
|
||
Weighted average Black-Scholes fair value per share at date of grant
|
$
|
21.93
|
|
|
$
|
29.69
|
|
|
Stock Options
|
|
Restricted Stock Units
|
||
Outstanding, December 27, 2015
|
395
|
|
|
75
|
|
Granted
|
125
|
|
|
33
|
|
Forfeited/expired
|
(4
|
)
|
|
(1
|
)
|
Exercised/vested
|
(7
|
)
|
|
(17
|
)
|
Outstanding, April 17, 2016
|
509
|
|
|
90
|
|
|
Sixteen Weeks Ended
|
||||||
|
April 17, 2016
|
|
April 19, 2015
|
||||
Net income
|
$
|
14,225
|
|
|
$
|
16,565
|
|
|
|
|
|
||||
Basic weighted average shares outstanding
|
13,635
|
|
|
14,077
|
|
||
Dilutive effect of stock options and awards
|
148
|
|
|
198
|
|
||
Diluted weighted average shares outstanding
|
13,783
|
|
|
14,275
|
|
||
|
|
|
|
||||
Earnings per share:
|
|
|
|
||||
Basic
|
$
|
1.04
|
|
|
$
|
1.18
|
|
Diluted
|
$
|
1.03
|
|
|
$
|
1.16
|
|
|
|
Fair Value at Acquisition Date
|
|
Property and equipment
|
|
18,831
|
|
Intangible assets
|
|
6,540
|
|
Deferred tax assets
|
|
2,935
|
|
Deferred tax liabilities
|
|
(2,791
|
)
|
Goodwill
|
|
14,285
|
|
Other assets and liabilities, net
|
|
220
|
|
Total purchase price
|
|
40,020
|
|
|
|
April 17, 2016
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Investments in rabbi trust
|
|
$
|
8,555
|
|
|
$
|
8,555
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Total assets measured at fair value
|
|
$
|
8,555
|
|
|
$
|
8,555
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
December 27, 2015
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Investments in rabbi trust
|
|
$
|
6,863
|
|
|
$
|
6,863
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Total assets measured at fair value
|
|
$
|
6,863
|
|
|
$
|
6,863
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
April 17, 2016
|
|
December 27, 2015
|
||||||||||||
|
|
Carrying Value
|
|
Estimated Fair Value
|
|
Carrying Value
|
|
Estimated Fair Value
|
||||||||
Credit facility
|
|
$
|
253,500
|
|
|
$
|
253,275
|
|
|
$
|
202,000
|
|
|
$
|
201,829
|
|
Capital lease obligations
|
|
7,800
|
|
|
8,865
|
|
|
7,972
|
|
|
9,177
|
|
||||
Total
|
|
$
|
261,300
|
|
|
$
|
262,140
|
|
|
$
|
209,972
|
|
|
$
|
211,006
|
|
•
|
Financial performance.
|
◦
|
Restaurant revenues increased
$8.3 million
or
2.1%
to
$396.8 million
for the sixteen weeks ended
April 17, 2016
, as compared to the sixteen weeks ended
April 19, 2015
, primarily due to a
$19.6 million
increase in revenue from newly opened and acquired restaurants, offset by a
$9.8 million
or
2.6%
decrease in comparable restaurant revenue, a
$1.2 million
unfavorable foreign exchange impact related to our Canadian restaurants, and
$0.4 million
from closed restaurants. We expect total revenues to grow around 8.0% in 2016, comprised of flat to slightly negative comparable revenue growth, and the remainder due to increased operating weeks associated with locations opened in 2015 and 2016 and acquired restaurants.
|
◦
|
Restaurant operating costs, as a percentage of restaurant revenue, increased
50
basis points to
77.5%
for the sixteen weeks ended
April 17, 2016
, as compared to
77.0%
for the sixteen weeks ended
April 19, 2015
. The increases were primarily due to increases in labor costs including benefits, other restaurant operating costs, and occupancy, as a percentage of restaurant revenues, and were partially offset by a reduction in food and beverage costs.
|
◦
|
Net income decreased
14.1%
to
$14.2 million
for the sixteen weeks ended
April 17, 2016
from
$16.6 million
for the sixteen weeks ended
April 19, 2015
. Diluted earnings per share decreased
11.2%
to
$1.03
for the sixteen weeks ended
April 17, 2016
, as compared to
$1.16
for the sixteen weeks ended
April 19, 2015
. Excluding the impact of
$0.20
per diluted share related to litigation contingencies, and a charge of
$0.04
per diluted share for asset impairment charges related to the relocation of one restaurant, net income per diluted share for the sixteen weeks ended
April 17, 2016
was $1.27. Excluding the impact of $0.06 per diluted share related to the change in accounting estimate for gift card breakage, net income per diluted share for the sixteen weeks ended April 19, 2015 was $1.10.
|
•
|
Marketing.
Our Red Robin Royalty™ loyalty program operates in all of our U.S. and Canadian Company-owned Red Robin restaurants and has been rolled out to most of our franchised restaurants. We engage our guests through Red Robin Royalty with offers designed to increase frequency of visits as a key part of our overall marketing strategy. We also inform enrolled guests early about new menu items to generate awareness and trial of these offerings. Our media buying approach is designed to achieve maximum on-air continuity. In addition, we use digital, social, and earned media to target and more effectively reach specific segments of our guest base. We plan to continue promoting new items and value menus during the remainder of 2016.
|
•
|
Brand Transformation Initiative.
In 2012, we began investing in our brand transformation program to enhance our service, food presentation, atmosphere, and other guest experiences. Key elements of the restaurant remodel associated with our brand transformation include greater separation of the bar and family dining area and refreshed exteriors including signage. We completed
32
restaurant remodels during the sixteen weeks ended
April 17, 2016
towards our goal of completing
70
remodels in 2016. We expect to substantially complete our brand transformation initiative for Company-owned restaurants by the end of 2016.
|
•
|
Restaurant Development.
During the sixteen weeks ended
April 17, 2016
, we opened
two
Red Robin restaurants and acquired
13
franchised restaurants. We plan to open at least 20 Red Robin restaurants during the remainder of 2016, including one Red Robin restaurant in Canada. We also opened
one
and relocated
one
Red Robin Burger Works during the sixteen weeks ended
April 17, 2016
, both located in Chicago, IL, bringing us to eleven total Burger Works. For the remainder of 2016, we plan to open at least one additional Red Robin Burger Works.
|
|
|
Sixteen Weeks Ended
|
||||
|
|
April 17, 2016
|
|
April 19, 2015
|
||
Company-owned:
|
|
|
|
|
||
Beginning of period
|
|
439
|
|
|
415
|
|
Opened during the period
|
|
3
|
|
|
4
|
|
Acquired from franchisees
|
|
13
|
|
|
—
|
|
Closed during the period
|
|
(1
|
)
|
|
(1
|
)
|
End of period
|
|
454
|
|
|
418
|
|
Franchised:
|
|
|
|
|
||
Beginning of period
|
|
99
|
|
|
99
|
|
Opened during the period
|
|
—
|
|
|
—
|
|
Sold or closed during the period
|
|
(13
|
)
|
|
—
|
|
End of period
|
|
86
|
|
|
99
|
|
Total number of restaurants
|
|
540
|
|
|
517
|
|
|
|
Sixteen Weeks Ended
|
||||
|
|
April 17, 2016
|
|
April 19, 2015
|
||
Revenues:
|
|
|
|
|
||
Restaurant revenue
|
|
98.7
|
%
|
|
98.4
|
%
|
Franchise royalties, fees, and other revenues
|
|
1.3
|
|
|
1.6
|
|
Total revenues
|
|
100.0
|
|
|
100.0
|
|
|
|
|
|
|
||
Costs and expenses:
|
|
|
|
|
||
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
|
|
|
|
|
||
Cost of sales
|
|
23.3
|
|
|
25.2
|
|
Labor
|
|
33.5
|
|
|
32.0
|
|
Other operating
|
|
12.5
|
|
|
12.0
|
|
Occupancy
|
|
8.2
|
|
|
7.8
|
|
Total restaurant operating costs
|
|
77.5
|
|
|
77.0
|
|
Depreciation and amortization
|
|
6.0
|
|
|
5.8
|
|
Selling, general, and administrative
|
|
11.7
|
|
|
12.2
|
|
Pre-opening and acquisition costs
|
|
0.6
|
|
|
0.2
|
|
Asset impairment
|
|
0.2
|
|
|
—
|
|
Income from operations
|
|
5.0
|
|
|
6.0
|
|
|
|
|
|
|
||
Interest expense, net and other
|
|
0.4
|
|
|
0.3
|
|
Income before income taxes
|
|
4.6
|
|
|
5.7
|
|
Provision for income taxes
|
|
1.1
|
|
|
1.5
|
|
Net income
|
|
3.5
|
%
|
|
4.2
|
%
|
|
|
Sixteen Weeks Ended
|
|||||||||
(Revenues in thousands)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Restaurant revenue
|
|
$
|
396,770
|
|
|
$
|
388,509
|
|
|
2.1
|
%
|
Franchise royalties, fees, and other revenue
|
|
5,356
|
|
|
6,392
|
|
|
(16.2
|
)%
|
||
Total revenues
|
|
$
|
402,126
|
|
|
$
|
394,901
|
|
|
1.8
|
%
|
Average weekly sales volumes in Company-owned restaurants
(1)(2)
|
|
$
|
56,950
|
|
|
$
|
59,032
|
|
|
(3.5
|
)%
|
Total operating weeks
|
|
7,088
|
|
|
6,660
|
|
|
6.4
|
%
|
||
Restaurant revenue per square foot
|
|
$
|
143
|
|
|
$
|
148
|
|
|
(3.4
|
)%
|
(1)
|
Excludes Red Robin Burger Works.
|
(2)
|
Calculated using constant currency rates. Using historical currency rates, the average weekly sales per unit in for sixteen weeks ended
April 19, 2015
for Company-owned restaurants was $59,211.
|
|
|
Sixteen Weeks Ended
|
|||||||||
(In thousands, except percentages)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Cost of sales
|
|
$
|
92,325
|
|
|
$
|
97,950
|
|
|
(5.7
|
)%
|
As a percent of restaurant revenue
|
|
23.3
|
%
|
|
25.2
|
%
|
|
(1.9
|
)%
|
|
|
Sixteen Weeks Ended
|
|||||||||
(In thousands, except percentages)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Labor
|
|
$
|
132,984
|
|
|
$
|
124,356
|
|
|
6.9
|
%
|
As a percent of restaurant revenue
|
|
33.5
|
%
|
|
32.0
|
%
|
|
1.5
|
%
|
|
|
Sixteen Weeks Ended
|
|||||||||
(In thousands, except percentages)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Other operating
|
|
$
|
49,708
|
|
|
$
|
46,584
|
|
|
6.7
|
%
|
As a percent of restaurant revenue
|
|
12.5
|
%
|
|
12.0
|
%
|
|
0.5
|
%
|
|
|
Sixteen Weeks Ended
|
|||||||||
(In thousands, except percentages)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Occupancy
|
|
$
|
32,498
|
|
|
$
|
30,147
|
|
|
7.8
|
%
|
As a percent of restaurant revenue
|
|
8.2
|
%
|
|
7.8
|
%
|
|
0.4
|
%
|
|
|
Sixteen Weeks Ended
|
|||||||||
(In thousands, except percentages)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Depreciation and amortization
|
|
$
|
23,951
|
|
|
$
|
23,003
|
|
|
4.1
|
%
|
As a percent of total revenues
|
|
6.0
|
%
|
|
5.8
|
%
|
|
0.2
|
%
|
|
|
Sixteen Weeks Ended
|
|||||||||
(In thousands, except percentages)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Selling, general, and administrative
|
|
$
|
47,288
|
|
|
$
|
48,061
|
|
|
(1.6
|
)%
|
As a percent of total revenues
|
|
11.7
|
%
|
|
12.2
|
%
|
|
(0.5
|
)%
|
|
|
Sixteen Weeks Ended
|
|||||||||
(In thousands, except percentages)
|
|
April 17, 2016
|
|
April 19, 2015
|
|
Percent Change
|
|||||
Pre-opening and acquisition costs
|
|
$
|
2,372
|
|
|
$
|
955
|
|
|
148.4
|
%
|
As a percent of total revenues
|
|
0.6
|
%
|
|
0.2
|
%
|
|
0.4
|
%
|
|
|
Sixteen Weeks Ended
|
||||||
|
|
April 17, 2016
|
|
April 19, 2015
|
||||
Net cash provided by operating activities
|
|
$
|
42,500
|
|
|
$
|
35,991
|
|
Net cash used in investing activities
|
|
(92,133
|
)
|
|
(37,266
|
)
|
||
Net cash provided by financing activities
|
|
52,015
|
|
|
441
|
|
||
Effect of exchange rate changes on cash
|
|
80
|
|
|
(127
|
)
|
||
Net change in cash and cash equivalents
|
|
$
|
2,462
|
|
|
$
|
(961
|
)
|
|
Sixteen Weeks Ended April 17, 2016
|
||
New restaurants
|
$
|
23,074
|
|
Restaurant remodels
|
21,608
|
|
|
Investment in technology infrastructure and other
|
5,243
|
|
|
Restaurant maintenance capital
|
2,224
|
|
|
Purchase of franchised restaurants
|
39,984
|
|
|
Total capital expenditures
|
$
|
92,133
|
|
Exhibit
Number
|
|
Description
|
31.1
|
|
Rule 13a-14(a) Certification of Chief Executive Officer
|
|
|
|
31.2
|
|
Rule 13a-14(a) Certification of Chief Financial Officer
|
|
|
|
32.1
|
|
Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer
|
|
|
|
10.1
|
|
Employment Agreement by and between Red Robin Gourmet Burgers, Inc. and Jonathan Muhtar, as amended, dated March 31, 2016.
|
|
|
|
10.2
|
|
Second Amendment to Credit Agreement, dated as of March 11, 2016.
|
|
|
|
101
|
|
The following financial information from the Quarterly Report on Form 10-Q of Red Robin Gourmet Burgers, Inc. for the quarter ended April 17, 2016, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Balance Sheets at April 17, 2016 and December 27, 2015; (ii) Condensed Consolidated Statements of Operations for the sixteen weeks ended April 17, 2016 and April 19, 2015; (iii) Condensed Consolidated Statements of Comprehensive Income for the sixteen weeks ended April 17, 2016 and April 17, 2015; (iv) Condensed Consolidated Statements of Cash Flows for the sixteen weeks ended April 17, 2016 and April 19, 2015; and (v) the Notes to Condensed Consolidated Financial Statements, tagged as blocks of text.
|
|
|
RED ROBIN GOURMET BURGERS, INC.
(Registrant)
|
||
May 18, 2016
|
|
By:
|
|
/s/ Stuart B. Brown
|
(Date)
|
|
|
|
Stuart B. Brown
(Chief Financial Officer)
|
1 Year Red Robin Gourmet Burgers Chart |
1 Month Red Robin Gourmet Burgers Chart |
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