Red Robin Gourmet Burgers, Inc. RRGB, a casual dinning restaurant company, introduced the new Wedgie Burger right in time for New Year celebrations.
Wedgie Burger boasts as low as 450 calories and will be available only for a limited period. It contains a 6-ounce beef patty inside a lettuce wedge bun, along with bacon, guacamole, tomatoes and red onions. Red Robin Gourmet Burgers is offering customers the option to gift a Wedgie to their friends through a pre-paid e-gift card.
Moreover, Red Robin Gourmet Burgers has partnered with the DUDE. Be Nice Project, a platform which encourages young people to create a positive community through creative and fun way. Under their partnership, Red Robin will give a portion of the proceeds from each gifted burger to the DUDE. Be Nice Project till Feb 7, 2016.
Introduction of the Wedgie Burger is in line with the company’s menu innovation strategy. In Nov 2015, the company introduced limited period items for the season like the Mad Love Burger. Red Robin also added the Gingerbread Milkshake – a combination of gingerbread syrup, creamy vanilla soft serve and graham cracker crumbs – to its menu.
Red Robin Gourmet Burgers has been undertaking several brand revitalization initiatives including menu innovation, improving food presentation and introducing a better customer service platform to drive revenues. The company continues to launch a variety of salads, appetizers, desserts and adult beverages as well as kids’ meals. The company also focuses on promotional offers and limited period offerings. Its marketing strategy involves driving traffic with everyday value advertising of premium burgers, appetizers, beverages and desserts.
Red Robin currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Shake Shack Inc. SHAK, Jack in the Box Inc. JACK and Dave & Buster's Entertainment, Inc. PLAY. All these stocks sport a Zacks Rank #1 (Strong Buy).
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