Red Robin Gourmet Burgers Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>Red Robin Gourmet Burgers Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

RED ROBIN GOURMET BURGERS INC (RRGB) filed a Annual Report (10-K) with the SEC on February 28, 2024. Red Robin Gourmet Burgers Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company's principal business address is 10000 East Geddes Avenue, Suite 500, Englewood, CO 80112. The filing covers the fiscal year 2023, with a fiscal year end of December 31. The SIC code for Red Robin Gourmet Burgers Inc. is 5812 (Retail-Eating Places). The filing was submitted on February 28, 2024.

Why It Matters

For investors and stakeholders tracking RED ROBIN GOURMET BURGERS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Red Robin's financial performance, operational strategies, and risk factors for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, competitive position, and future outlook in the casual dining sector.

Risk Assessment

Risk Level: medium — RED ROBIN GOURMET BURGERS INC shows moderate risk based on this filing. The company operates in the highly competitive casual dining industry, which is subject to changing consumer preferences and economic conditions, as indicated by its SIC code 5812 (Retail-Eating Places).

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Red Robin's performance and strategic direction for the upcoming fiscal year.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240228 — Filing Date (Filed as of date)
• 001-34851 — SEC File Number (SEC file number)
• 24696676 — Film Number (Film number)

Key Players & Entities

• RED ROBIN GOURMET BURGERS INC (company) — Filer name
• 10000 EAST GEDDES AVENUE (address) — Business and mailing address
• ENGLEWOOD (location) — City for business and mailing address
• CO (location) — State for business and mailing address
• 80112 (postal_code) — ZIP code for business and mailing address
• 5812 (sic_code) — Standard Industrial Classification code

FAQ

Industry Context

Red Robin Gourmet Burgers Inc. operates within the highly competitive casual dining sector, characterized by evolving consumer tastes and economic sensitivity.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (10-K) detailing financial and operational performance.

What Investors Should Do

1. Analyze the company's revenue streams and growth trends across different segments.
2. Evaluate the company's debt levels and cash position.
3. Assess the identified risk factors and management's mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-28: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 2023 10-K. Comparative data from the previous filing (2022) would be needed for a direct comparison.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value RRGB Nasdaq (Global Select M
• $17.08 — 3, we had an average check per Guest of $17.08. Average check per Guest increased 6.8%
• $8.6 million — all Red Robin restaurants. We invested $8.6 million and $6.1 million in the Donatos expansi
• $6.1 million — staurants. We invested $8.6 million and $6.1 million in the Donatos expansion in fiscal 2023

Filing Documents

• rrgb-20231231.htm (10-K) — 2008KB
• exhibit105formofredrobingo.htm (EX-10.5) — 23KB
• rrgb-20231231xex1037.htm (EX-10.37) — 107KB
• rrgb-20221225xex211.htm (EX-21.1) — 10KB
• rrgb-20221225xex231.htm (EX-23.1) — 2KB
• rrgb-20221225xex311.htm (EX-31.1) — 10KB
• rrgb-20221225xex312.htm (EX-31.2) — 10KB
• rrgb-20221225xex321.htm (EX-32.1) — 8KB
• rrgb-2023x1231xex971xclawb.htm (EX-97.1) — 30KB
• rrgb-20231231_g1.jpg (GRAPHIC) — 122KB
• 0001171759-24-000011.txt (&nbsp;) — 11339KB
• rrgb-20231231.xsd (EX-101.SCH) — 70KB
• rrgb-20231231_cal.xml (EX-101.CAL) — 128KB
• rrgb-20231231_def.xml (EX-101.DEF) — 376KB
• rrgb-20231231_lab.xml (EX-101.LAB) — 1003KB
• rrgb-20231231_pre.xml (EX-101.PRE) — 684KB
• rrgb-20231231_htm.xml (XML) — 1580KB

Business

Business 1 ITEM 1A.

Risk Factors

Risk Factors 10 ITEM 1B. Unresolved Staff Comments 21 ITEM 1C. Cybersecurity 21 ITEM 2.

Properties

Properties 22 ITEM 3.

Legal Proceedings

Legal Proceedings 23 ITEM 4. Mine Safety Disclosures 23 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 ITEM 6. Reserved 25 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 42 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 72 ITEM 9A.

Controls and Procedures

Controls and Procedures 72 ITEM 9B. Other Information 74 ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 74 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 74 ITEM 11.

Executive Compensation

Executive Compensation 74 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 74 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 74 ITEM 14. Principal Accounting Fees and Services 74 PART IV ITEM 15. Exhibits, Financial Statement Schedules 75 ITEM 16. Form 10-K Summary 75

Signatures

Signatures 78 i Table of Contents PART I

Business

ITEM 1. Business Overview Red Robin Gourmet Burgers, Inc., together with its subsidiaries, primarily operates, franchises, and develops casual dining restaurants in North America famous for serving more than two dozen craveable, high-quality burgers with Bottomless Steak Fries and sides in a fun environment welcoming to Guests of all ages. We opened the first Red Robin restaurant in Seattle, Washington in September 1969. In 1979, the first franchised Red Robin restaurant was opened in Yakima, Washington. In 2001, we formed Red Robin Gourmet Burgers, Inc., a Delaware corporation, and consummated a reorganization of the Company. Since that time, Red Robin Gourmet Burgers, Inc. has owned, either directly or indirectly, all of the outstanding capital stock or membership interests, respectively, of Red Robin International, Inc. and our other operating subsidiaries through which we operate our Company-owned restaurants. Unless otherwise provided in this Annual Report on Form 10-K, references to "Red Robin," "we," "us," "our", or the "Company" refer to Red Robin Gourmet Burgers, Inc. and our consolidated subsidiaries. As of the end of our fiscal year on December 31, 2023, there were 506 Red Robin restaurants, of which 415 were Company-owned and 91 were operated by franchisees. Our franchisees are independent organizations to whom we provide certain support. See "Restaurant Franchise and Licensing Arrangements" for additional information about our franchise program. As of December 31, 2023, there were Red Robin restaurants in 39 states and one Canadian province. The Company operates its business as one operating and one reportable segment. Financial information for our operating segment is included in the Notes to the Consolidated Financial Statements in Part II, Item 8 of this Annual Report on Form 10-K. The Company's fiscal year is 52 or 53 weeks ending the last Sunday of the calendar year. We refer to our fiscal years as 2023, 2022, and 2021 throughout this Annual

View Full Filing

View this 10-K filing on SEC EDGAR