Six new company-owned Red Robin restaurants and one new franchised restaurant opened during the fiscal second quarter 2011. As of the end of the fiscal second quarter 2011, there were 321 company-owned and 137 franchised Red Robin restaurants.
“We’re pleased with our second quarter 2011 performance, which represents our fourth consecutive quarter of higher same store sales and third consecutive quarter of higher earnings,” said Steve Carley, CEO.
Looking ahead, the company expects commodity inflation of 5.0 percent to 5.5 percent for the full fiscal year 2011 mainly due to the continued increase in ground beef costs. Based on the company’s development plans and other infrastructure and maintenance costs, the company expects total fiscal year 2011 capital expenditures to be between $43 million and $45 million.