Shareholders want Red Robin put up for sale

NEW YORK (Dow Jones)--Red Robin Gourmet Burgers Inc. (RRGB) is being pressured by shareholders to put itself up for sale.

"We know there's interest in acquiring Red Robin, and that's no surprise given the substantial franchise value," said Gregory Taxin, a co-founder of Spotlight Advisors, which is partnered with Clinton Group to own about 9% of Red Robin.

Red Robin's shares were up 2.2% at $22.25 recently.

Clinton Group and Spotlight Advisors, the third-largest shareholder of Red Robin, said in a letter to the board of directors that "the time has come for the board to proactively solicit proposals for the acquisition of the company," according to an SEC filing summarizing the letter.

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Red Robin Gourmet Burgers Reports Earnings for the Fiscal Second Quarter 2010

Financial and Operational Results

Results for the 12 weeks ended July 11, 2010, compared to the 12 weeks ended July 12, 2009, are as follows:

Restaurant revenue of $198.0 million was unchanged from the prior year.
Company-owned comparable restaurant sales decreased 1.2% and guest counts increased 0.9%. Restaurant-level operating profit decreased 7.0% to $36.2 million.

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Red Robin Forms Committee to Replace CEO

Restaurant chain Red Robin Gourmet Burgers (RRGB: 23.17, 0.98, 4.42%) announced plans Friday to form a committee that will find a new CEO to replace chief executive Dennis Mullen.

The company has seen sales drop by more than 11% in the last year, and said in its filing with the SEC that it will look to find a new CEO by December 31. Mullen’s contract with the company runs through 2012, so it is unclear whether or not he would be replaced before that expiration.

Pattye Moore, chair of Red Robin's board, said the committee has been formed to aid the board of directors in its overall succession planning.

"This has been an ongoing process and Dennis Mullen is under contract through December 2012, so we look forward to a seamless transition when we find a great candidate," Moore said in a company statement.

The search to replace 66-year-old Mullen will involve the appointment of three new board members including Robert Aiken, former CEO of U.S. Foodservice, Lloyd Hill, former CEO of Applebee's and Stuart Oran, former board member at Wendy's

Red Robin Gourmet Burgers Reports Earnings for the Fiscal Fourth Quarter and Year Ended December 27, 2009

GREENWOOD VILLAGE, Colo., Feb 18, 2010 (BUSINESS WIRE) -- Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a casual dining restaurant chain focused on serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the 12 and 52 weeks ended December 27, 2009 and announced several key governance changes impacting the Company.
Financial and Operational Results

Results for the 12 weeks ended December 27, 2009, compared to the 12 weeks ended December 28, 2008, are as follows:

Restaurant revenue decreased 8.2% to $179.6 million.
Company-owned comparable restaurant sales decreased 10.5%.
Restaurant-level operating profit decreased 19.8% to $31.2 million.

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Red Robin Gourmet Burgers Reports Earnings for the Fiscal Second Quarter 2009

Financial and Operational Highlights
Highlights for the 12 weeks ended July 12, 2009, compared to the 12 weeks ended July 13, 2008, are as follows:
-Total revenues decreased 2.6% to $201.1 million.
-Restaurant revenue decreased 2.4% to $198.0 million.
-Company-owned comparable restaurant sales decreased 11.5%.
-Restaurant-level operating profit decreased 6.0% to $35.6 million.
-GAAP diluted earnings per share were $0.41 vs. $0.49 in the same period a year ago, which included a $0.03 charge for reacquired franchise costs and related acquisition integration expenses in the fiscal second quarter of 2008.

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Red Robin Gourmet Burgers (RRGB)

http://finance.yahoo.com/news/Red-Robin-Gourmet-Burgers-zacks-2569626913.html?x=0&.v=1

Red Robin Gourmet Burgers' Marketing Complications

Red Robin profit slashed in 1Q

Red Robin Not Bobbin' Along; Casual Dining Suffers

Red Robin Gourmet Burgers Reports Earnings for the Fiscal First Quarter 2009

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--May. 21, 2009-- Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB), a casual dining restaurant chain focused on serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the 16 weeks ended April 19, 2009.

Financial and Operational Highlights
Highlights for the 16 weeks ended April 19, 2009, compared to the 16 weeks ended April 20, 2008, are as follows:
- Total revenues increased 6.0% to $270.8 million.
- Restaurant revenue increased 6.3% to $266.6 million.
- Company-owned comparable restaurant sales decreased 8.1%.
- Restaurant-level operating profit decreased 1.7% to $47.1 million.
- GAAP diluted earnings per share were $0.25, which included $0.19 per diluted share in compensation expense related to the Company’s tender offer for certain stock options, and $0.03 per diluted share in costs related to the closing of four company-owned restaurants, vs. $0.43 in the fiscal first quarter a year ago.
- A total of nine new Red Robin® restaurants, seven company-owned and two franchised locations, were opened during the fiscal first quarter 2009.

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