The economy has caused many Americans to cut back on things such as clothing shopping, going out to the movies and dining out. Many of them experienced lower paychecks, job cuts and even lost their homes. These issues have caused businesses to suffer their annual revenues have decreased but this has not been an issue for popular burger restaurant, Red Robin.
Within the last week, the price of their stock has greatly increased. On February 26, the price per share was $41.74, today on March 4, it is $44.13. The diner is most known for their gourmet burgers. They offer their customers a variety of beef patties along with turkey and garden patties to satisfy their vegetarian consumers. They also provide customers with an endless amount of fries when they order a burger. They also have fresh tossed salads, soups and wraps. They have the typical diner type of desserts like hot fudge sundaes, ice cream shakes and Mudd pie. All of which do not cost a lot.
The restaurant is not as popular as diners such as Denny's however the food is higher quality. They offer reasonable prices which is probably why their stock continues to soar in 2013. They offer consumers the opportunity to join their Red Royalty club which offers them a free burger on their birthday, $20 towards their sixth visit (if they visit a restaurant 5 times within a 5 week period), and every 10th item free along with exclusive offers.
The company was founded in 1969 in Seattle, Washington however their headquarters are currently located in Colorado. It was originally one restaurant called Sams Tavern but eventually it was purchased by a businessman whom decided to expand the brand and rename it Red Robin. As of today there are well over 500 restaurants across America.
In tough economic times, the average American consumer enjoys taking their family out to eat without worrying about it costing a significant amount of money. Red Robin seems to be providing their customers with that. Some finance blogs are predicting their sales will continue to increase throughout 2013.