Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) Q1 2015 Earnings Conference Call - Final Transcript

May 19, 2015 • 10:00 am ET


Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) Q1 2015 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the Red Robin Gourmet Burgers, Incorporated First Quarter 2015 Earnings Call. Today's call is being recorded.

(Forward-Looking Cautionary Statements)

Participants on the call today should refer to the Company's Form 10-K and other filings with the SEC for a more detailed discussion of risks and uncertainties and other factors that could impact the company's future operating results and financial condition. The Company has posted its fiscal first quarter 2015 press release and supplemental financial information related to the quarter's results on its website at in the Investors section.

Now, I'd like to turn the call over to Mr. Steve Carley, Chief Executive Officer of Red Robin. Please go ahead, sir.

Steve Carley

Thank you, Eric, and hello, everyone. Thanks for joining us this morning. I'm here with Stuart Brown, our Chief Financial Officer, and we'll kick off by each sharing commentary on the business, and then we'll open it up for questions. Denny is not able to join us today, but I want to publicly congratulate her on her well-deserved promotion to Executive Vice President, and to a newly created role here at Red Robin, the Chief Concept Officer. She'll oversee franchise operations, marketing, menu innovation and implementation, and is also serving as the President for our Canadian operations.

Let me begin with an update on our strategic priorities, which we've organized under the headings of engagement, efficiency, and expansion. As you know, these provide us with the roadmap through which we are strengthening a brand, gaining market share, and enhancing shareholder value.

Related to engagement, we continue to provide our front-line team members with the training and tools necessary, so that they can efficiently engage with our guests and deliver what we term Triple R service, which is recognizing each guest individually, recommending something they're proud of, and then reassuring the guests that they made a great choice.

Having a great Red Robin experience begins with our team members because when they deliver, they have the ability to build frequency and expand upon the number of distinct occasions that our guests can now associate with Red Robin, everything from a great family dining experience to adult occasions, including date night, coming in with your buddies after softball practice, guys or girls night out, et cetera.

Of course, critical to guest engagement is the breadth and quality of our food and beverage offerings, as well as our ability to bring innovation and creativity to the market on an ongoing basis. Some recent examples of that include our Cure Burger that launched as a secret menu item January 1 and was positioned as the perfect remedy for guests that needed some post-holiday relief. Of course, The Wild Pacific Crab Cake Burger was the first premium seafood offering to join our finest lineup, and at $14.29 continues to build trial and deliver strong repeat. We have a few other great things coming up this summer, which we'll review with you in our Q2 call.

In addition,