Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) recently announced that it will open two new Red Robin Gourmet Burgers and Brews restaurants – one each in Florida and Arizona on Jul 18. The Florida outlet will be located at Davenport, 8184 Laura Lane in Champions Gate off of Interstate 4 exit number 58. The Arizona outlet will be situated at Queen Creek, 21239 S. Ellsworth Loop Road near Sprouts Farmers Market in the Queen Creek District Shopping Center.
Apart from the signature items like Royal Red Robin Burger, Bottomless Steak Fries, Smoke & Pepper Burger, and the Red's Tavern Double, the menu will also feature Freckled Lemonade. Moreover, the restaurant will serve D.G.B., Black & Bleu burger, The Marco Pollo, the Southern Charm Burger, along with a variety of salads, entrees, soups and wraps.
As part of the opening celebrations, the company will donate the proceeds from the sales of Freckled Lemonade at both the restaurants during the opening week to Alex's Lemonade Stand Foundation, a non-profit organization.
Red Robin has been exploring opportunities in untapped markets of the U.S., including Florida, New York, New Jersey, Chicago and Texas. Further, Red Robin’s initiatives such as menu innovation, in addition to its effective marketing strategy and remodeling programs, should revive its brands.
Red Robin currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the same industry are Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) , Famous Dave's of America Inc. (NASDAQ:DAVE) , and Carrols Restaurant Group, Inc. (NASDAQ:TAST) . All these stocks sport a Zacks Rank #1 (Strong Buy).
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