Red Robin announced in March that it plans to close dozens of underperforming locations over the next several years.
ENGLEWOOD, Colo. — National burger chain Red Robin has closed seven restaurants so far this year and at least eight more are set to close by the end of the year, the company announced in its Q1 earnings call Thursday, even as revenue is up.
The chain announced in March that it plans to close dozens of underperforming locations over the next several years, primarily when their leases expire. Specifics on locations haven’t been announced yet.
In the first quarter of 2025, Red Robin shuttered six company-owned locations and one franchise location, according to its first quarter earnings report.
There are now 401 company-owned locations and 90 franchise restaurants still open.
Todd Wilson, Red Robin’s chief financial officer, said on the call the company expects to operate 393 company-owned restaurants by the end of the year. He did not comment on which locations are set to close, or any more planned closures of franchise locations.
The chain did not open any new locations in the first quarter of 2025 or 2024, according to the earnings report.
The company also surprised investors by reporting a first-quarter profit of $1.2 million, compared to a net loss of $9.5 million last year. Revenue was up 1% year-over-year, with the increase attributed to a 6.8% menu price increase that offset declining guest traffic.
There are no more menu price increases expected for 2025, Wilson said.
“We anticipate absorbing the current expected impact of tariffs as we prioritize maintaining value for our guests,” he said.
Red Robin named a new president and CEO, David A. Pace, in late April.
“We are far from claiming victory and there is still more work to be done as we continue the comeback journey of Red Robin,” Pace said.