Red Robin is a casual dining restaurant chain built around gourmet burgers. Burgers account for roughly 54% of food sales, served with the brand's signature Bottomless Steak Fries and other unlimited-refill sides. Beyond burgers, Red Robin offers chicken sandwiches, wings, salads, pizza (via a Donatos partnership at roughly 260 locations), desserts, and a full bar. The average check is roughly $18.76 per guest. Red Robin operates 475 locations across North America, of which 385 are company-owned and 90 are franchised. Revenue comes primarily from food and beverage sales at company-owned restaurants, driven by guest traffic and average check. Off-premises (takeout, delivery, and catering) represents roughly 25% of sales. The franchise business contributes a smaller, higher-margin revenue stream through royalties tied to franchisee sales. Key cost drivers are food and beverage inputs — primarily beef, potatoes, and poultry — and labor, which is the largest cost item. Red Robin has been executing a multi-phase turnaround under a new CEO, focused on traffic recovery, restaurant refreshes, and balance sheet repair. Current initiatives include a $9.99 value combo deal, micro-targeted marketing using its Red Robin Royalty loyalty program (roughly 16.4 million members), low-cost restaurant refresh pilots, and refranchising select locations to pay down a term loan (~$169M outstanding) maturing in September 2027.