The company has posted its fiscal second quarter 2020 earnings release and supplemental financial information related to the results on its website at www.redrobin.com in the Investor Relations section. Joele Frank, Wilkinson Brimmer Katcher The most active insiders traders include Capital Management Llckahn ...、Gerard Johan Hart、Patrick Walsh. It serves a variety of salads, soups, appetizers, entrees, seafood and desserts. We believe we can further enhance the off-premise experience over time and have completed much of the foundational work that has greatly improved our execution. And that's with an increase in terms of comp store sales as we continue to expand our seating capacity. But I would say about, yeah, I'd say about 30%, 30% to 40%. Please proceed with your question. In early January, we refinanced our credit agreement with our lenders, securing a $300 million credit facility, which provides liquidity through early 2025. Paul Murphy is 65, he's been the President, Chief Executive Officer und Director of Red Robin Gourmet Burgers since 2019. Could you decompose that a bit and remind us sort of what the weekly G&A run rate you will expect in Q3 and then the interest costs or any other cost assumptions that are embedded into that $2 million weekly burn rate for Q3? During today's conference call, management will also discuss non-GAAP financial measures. In addition to reductions in restaurant-level and corporate costs, we have shifted our focus to digital marketing, which has proven to be an efficient medium for engagement with guests during the pandemic. We intend to dedicate a significant portion of our free cash flow once achieved over the next several quarters to delevering our balance sheet. We have made it easier for guests to enjoy our food outside of our restaurants through increased curbside and delivery options, including the implementation of Red Robin Delivery across all company-operated restaurants and third-party delivery across the entire system. Aylwin Lewis and Ms. Moore, who is also Board Chair, will retire from the Board following an appropriate transition period, and Stuart Oran will not stand for re-election in 2020. I'll pass it along. Alex, this is Paul. And with that, I would like to conclude the call and thank you for joining Red Robin's conference call today. In March, we had to pivot to an off-premise only operating model and gradually opened our dining rooms beginning in mid-May with an increasing sales trajectory. How much dispersion is there in terms of the comp performance really over the last six or eight weeks? We are committed to this continuing to be a strength along with exceptional hospitality, which we believe will enable us to take market share as we get through this pandemic and beyond. Frankly, we've added very few so far. With that, I will turn the call back over to Paul. The company was founded in September 1969 and is headquartered in Greenwood Village, CO. Red Robin Gourmet Burgers executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. He was promoted to Executive Vice President, Operations in 1998, and to Chief Operating Officer in 2002. Our weighted average interest rate was 4.2%. And then Lynn, while I've got you, what is the profitability at the restaurant? So we're already doing the work on that. Before we take your questions, let me leave you with the following thoughts: Before the crisis, there were already headwinds challenging casual dining brands to evolve and raise their game, from demographic and lifestyle shifts to increased pressure to innovate, while driving convenience and value. Paul J.B. Murphy, III has been Del Taco’s Chief Executive Officer since February 2009 and served as President from February 2009 through December 2016. It serves a variety of salads, soups, appetizers, entrees, seafood and desserts. The estimated Net Worth of Paul J B Iii Murphy is at least 2.19 百万$ dollars as of 3 December 2019. We are – there may be some items brought back to the menu over time, but we see that being a more of a permanent structure, so whether it's the management structure in the front of the house or the back of the house, we see ongoing savings really in all three areas. Q2 adjusted EBITDA was a loss of $15.3 million compared to positive adjusted EBITDA of $25.5 million in Q2 2019. Includes Address(5) Phone(6) Email(1) See Results. And similar type question, but on the plastic partitions, I think you said it could help in about a 150-company unit. the Securities and Exchange Commission (SEC) website. Can you give us some examples of where those costs that need to bend and maybe the order of magnitude that maybe gets preserved post COVID? Paul's mailing address filed with the SEC is 6312 S. FIDDLERS GREEN CIRCLE, SUITE 200N, GREENWOOD VILLAGE, CO, 80111. With me today is Lynn Schweinfurth, our Chief Financial Officer, who'll provide a detailed update on our liquidity and then review our quarterly results. Paul Murphy is 65, he's been the President、 Chief Executive Officer、 Director of Red Robin Gourmet Burgers since 2019. Following the initial outbreak of COVID, we set the following priorities for our business: one, secure the long-term viability of Red Robin through increased liquidity; two, ensure the health and safety of all team members and guests; three, leverage our off-premise channel to drive sales and opportunistically reopen our dining rooms; four, reduce expenses and improve flow-through on lower sales; and five, position Red Robin for recovery and future growth. Company Directors - M; Murphy Paul J B Iii ; Insider Trading History of Murphy Paul J B Iii . He has served as Executive Chairman of Noodles & Company from July 2017. The future is bright and we are committed to delivering value for all of our stakeholders, team members, franchise partners, landlord, suppliers, and shareholders. He has served as Executive Chairman of Noodles & Company from July 2017. Red Robin offers a variety of options behind the bar, including its extensive selection of local and regional beers, and innovative adult beer shakes and cocktails, earning the restaurant a VIBE Vista Award for Best Beer Program in a Multi-Unit Chain Restaurant. Paul J. You may disconnect your lines at this time and have a great evening. I think that the majority of the variability that you've seen is really the move from the increase in the off-premise sales. Well, that was a pretty large question, John. We are also piloting the implementation of partitions inside our restaurants to ensure that we are developing a holistic solution for both our guests and our operating teams that we believe will be utilized for the foreseeable future. However, we have regained momentum in our business since the resurgence, with sequential improvement in average weekly net sales per restaurant over the last five weeks. Pattye and the team have done an outstanding job of establishing a strong foundation, underscored by the Company’s improved operating and guest satisfaction metrics in the second quarter, and I look forward to building on this momentum as we create value for shareholders, Guests, Team Members and other stakeholders.”. And those will obviously be the first restaurants that we're putting them in. And then zooming out, just wondering what are the biggest changes that you've made as a result of COVID that you expect will stick even as we come out on the other side and consumer dine-in confidence sort of normalizes? Mix decreased by 5.7%, driven by lower sales of beverages and Finest burgers due to higher off-premise sales and consistent with off-premise sales mix we saw pre COVID-19. And I'll be honest, I take a guess, but I can get back to you with a more specific answer in the future. As previously mentioned, on May 29, we further amended our credit agreement to ease financial covenant requirements through the third quarter of 2021 and our recent capital raise requirement hadn't been fulfilled in June. This leadership transition is the result of a comprehensive search process and follows the Company’s recently announced board changes, which included the addition of three new independent Board directors with substantial industry experience and the announcement of the pending retirements of three existing board members. That's a good question. And you can see based on those charts that as of early July, when California required our indoor dining rooms to close, you see an adjustment there in terms of our comp store sales performance of about 4% on a comprehensive basis. And then in terms of our ongoing G&A assumption and our cash burn calculation, the G&A assumption is about $1.25 million per week and the interest expense expected is roughly $2 million a quarter. As the President、 Chief Executive Officer、 Director of Red Robin Gourmet Burgers, the total compensation of Paul Murphy at Red Robin Gourmet Burgers is 2,063,160$.
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