According to a LendingTree survey, 78% of consumers believe dining out is a luxury. Red Robin Gourmet Burgers (RRGB), a casual dining chain, reported earnings and acknowledged that inflation’s impact on consumers has affected the company’s margins. Red Robin CEO G.J. Hart joins Wealth! to discuss the company’s strategy amid changing consumer behavior.
Hart notes that Red Robin is "in the middle of a comeback," undergoing a strategic plan to enhance operations. While consumers have been trading down, he mentions that they have continued to add on items like desserts and appetizers, saying "it’s given us some confidence" in the consumer’s willingness to spend.
"We think it’s better to be 52 weeks a year in providing value to our guests," Hart told Yahoo Finance, emphasizing that the company is "focusing on fundamentals" to improve customer experiences and offer consistent value throughout the year.
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