Red Robin reports Q2 adjusted EPS 26c vs. (38c) last year

Reports Q2 revenue $283.7M, consensus $279.17M. Comparable restaurant revenue decreased 3.2%, including recognition of deferred loyalty revenue. Excluding deferred loyalty revenue, comparable restaurant revenue decreased 1.3%. Dave Pace, Red Robin’s (RRGB) President and Chief Executive Officer said, “We have begun executing on the strategic elements of our First Choice plan and are already seeing encouraging results. Since launching our Big YUMMM Burger Deal in July, we have seen meaningful improvement in traffic compared to our second quarter exit rate. This value-driven offering, combined with our upcoming First Choice marketing launch represents the foundation of our multi-layered approach to sustainable traffic growth.”