Guy J. Constant
afternoon good Thank you, everyone. and Denny,
I financial the for please a are excluding note fourth walk numbers you present special of As results recurring our I highlights the on the basis, quarter, through items. that
casual versus significant Denny the XXX run and quarter Robin's of in of the As traffic sales outlined fourth our outperforming XXXX dining points. outperformance peers by Red extended industry, basis
our on at outperformance Black continued by also versus XXX points now have expand dining to Box. our peers, as casual two-year We basis measured tracking
benchmark developed compares best-in-class we us industry, we competitors to You dining. top the introduced not additional just may last also that an that recall for quarter, casual entire that have quartile,
gap group QX, a well, our XXX points. marketing, outperformed For to differentiated for to significantly teams Congratulations traffic performance. culinary continuing this operations, we and basis of generating as deliver positive
However, quarter to not demonstrated us of of great is not restaurant that strive P&L of relative be kind that the promise. start XXXX better down business. We deliver a will several on the And up quarters, enough. outperformance as said and have fourth the results a we business, just the for help
have years, new deal of place are the a foundational thinking differentiated over commented we two brought great the results industry in ideas. work put we been and in the quarters, the past on to As has we those and past from work now on seeing the hard
For a areas. the notable full progress made year XXXX, Red number in Robin of
positive. negative Our team members sales comp to turned
of full so. delivered traffic, members small number team year one to restaurant do industry a only players of positive Our very
at Our margin margin the team members to earlier year declines end in the from improvement of the year. reversed
Yet the delivered dining performance poised make members in a to casual stable is necessary team healthy restaurant sustain truly environment, again current dramatically the to members need change flow business significant the our improved Our are introduce XXXX. the do to positive strong and successful. and business. necessary type we team of that our for And to so cash productivity in
important organizations. to Red making consumer. one allow on returns high in business investments actions will continue growth we position put with capitalize consistent then and intention us absolute to into provide the These Robin growth, return differentiated a to to that will to the with the restaurant innovate to allows holds make earnings that our choices around position support are and We performing first ourselves that way to and need and and a us associates fully
X.X% level by compared increased year restaurant to this would and basis our XX our XX.X%, affordability of beef to operating starting price steak quarter a to forward, XX of timing price we due versus higher driven to to Now by usage Fourth after million we increase a by with the grew in X% margin and through This in increased as total Cost of traffic openings. increase on for basis price a value XX.X% consistent year in quarter driven and January. the level up guest mind to X.X% level versus sales, and restaurant increased XXrd XXXX. up of comp from was quarter. a company X.X%, heavier menu. check, Overall new week, $XXX.X our featured restaurant in primarily price the X.X%, ago X.X% strong keeping considering $XXX.X week increase impact guest costs. to of ago, in primarily following X% Comparable XXXX focus factors. moving results, ago expect of points in ground cost greater for traffic by XX.X%, driven higher price, a XXrd driven the higher the We average by was expected million, year October change points our took QX discounting, primarily in guests. at sales guest a the specific fries driving weeks the a versus decreased mix that in as revenues Tavern driven sales be and XX
due this were sales. due year As in real and restaurant levels to in manager and maintenance points costs hourly payouts basis improved primarily costs higher and combined decreased managers improved were and spend, partially and XX related Denny year, up our year increase repair full costs We're the mentioned, utilities, by higher costs, full a basis basis card level driven that XXXX were due program. percent XX.X% media XXX $X points million to XX restaurant that The nearly of produced an expenses. by X.X% Other with higher of QX local labor lower in the we despite partially to improved to comp increases management primarily delivery restaurant to These Occupancy program basis decreased offset pivot costs. changes our payout estate on XX implementation these General and points costs compensation expense XXXX. operating a improve manager results restaurant driving Maestro improved labor say made restaurant insurance health in decreased Earlier improved investments manager productivity, while to increase labor generate successful restaurant significant predicated to productivity offset all decreases in bonus and delivered costs to labor reached expenses to a sales XX.X% better targets and and operating on points improve happy administrative bonus ago. incentive economics X.X% of spend, decreases national performance-based taxes. XX as revenue points payouts to by marketing by restaurant third-party in Selling costs technology to to lower than an versus costs. to basis $X.X leverage due in million gift programs.
We this change moving QX represented a Depreciation up in marketing in including line. organization marketing ago and X.X%. will driven on year and the expense by into operating features numbers, credit quarter year improved the for year improve provide $XXX,XXX margins. other EBITDA adjusted expense line. the both by for classify activity rates with forward. interest this aided higher the versus all XX.X% last transparency now marketing by better week, to believe and XXrd change, we an this expense how This reflected and amortization and national and million, year media of was Net both a increase $XX.X comp out approximately XXX move the $X.X expenses basis was revolving other points local local activities selling true of prior our which costs in The marketing facility. is all versus the interest million, higher expense and sales
fourth were the $X.XX in in in was quarter share. in X.X% $X.X XXXX. contributed per to compared EBITDA, approximately diluted X% adjusted generated ago. income, And $XX.X and earnings $X.XX a $X.XX XXrd share the per of to Adjusted year million million compared fourth in diluted week as $X.X revenue, million restaurant earnings Our rate net quarter tax
During company existing the And provided Government's comprehensive restaurant the decrease quarter, inaction legislation, to a an which benefit tax locations. the tax recorded we to related million. of charge addition, to $X.X our recognized deferred of $X.X due U.S. in nine million impairment tax one-time a of liabilities related
we $XX.X in million Now total XXXX investment ended $XX.X the with finished quarter primarily in in times. materially in adjusted related turn, fourth restaurant allowing a $XX We down where $X CapEx invested lease of of versus quarter maintenance debt more quarter leverage a us a improved leverage for new openings. projects, the quarter, a and X.XX the to than We ratio the in business. paid our to ended of sheet, and up million technology balance million we million XXXX, with and derisk ratios little cash, restaurant capital, the
forward of times. X to our a ultimate continue press towards lease adjusted goal We of ratio maintaining leverage
decrease X%. will and to more labor share ago XX expectations to manager of food point million. to of At in and basis versus this of and into is range points are the for a grow effects be This of Company between sales the basis to be compared lower basis costs penetrated and is million operating wage XX coming improvements offset to in our was XXXX of and points approximately maintenance sales target move weeks year commodity in revenue Comp Other environment. $XX moderately $X costs end Cost the by inflationary expense down expenses are projected include out increase repair highly G&A XX points. increase to we to be a wanted to of flat driven restaurant normal point year. by a to bonuses $XX due its to versus million. reset primarily decline levels. points XX-week operating basis XX total. steak higher at decline the return year-over-year XXXX, is that labor increases basis markets a let planned to expects between to between of projected productivity. the are points return will to weeks This costs. As year. XXX And to an XX fry contracted. to levels increase $XX points XXXX approximately again past target about projected revenues million costs basis Depreciation minimum I Restaurant increase of restaurant with a XX basis points projected and a to an due XX expense XXX XX a year XX fiscal expected includes our bonus from as weeks points our me XXXX, of XXXX XXXX to XX% basis and projected spend basis
which structure and office the and be Denny investment $XX we allow partially mentioned offset addition, the savings and million realized be About in In national to lay Robin. both the restaurant the recently that preopening reinvestment. of transformational technology field those expected $X reset restaurant revenues our that models future home streamline to foundation by percent marketing to be growth local is G&A the earlier will line, of for includes expense due and is in approximately organization slightly projects as expense million up free-up estimated and Selling Red for activities will resources a have for new to fewer to opening.
to projected tax X% between X% and rate for income is Our XXXX. range
next technology in put share which members' represents improve $X.XX and As to Denny their XXXX to growth ago to team an Earnings earlier. improve the guest mentioned productivity, models is experience to of of XX% hands our and diluted initiatives projected outlined, identify versus week. enhance for to further for increase Red we year accelerate to Robin, the per from expect as XX% work experience, normalizing range in savings XXrd $X.XX, the some to I tax invest a when the to XXXX
expect investments $XX between to and is industry $X.XX, million to start per return reflecting unit CapEx capital be to loss of a new we challenging earnings revenue lower million to due technology and improve We investment one again Overall the higher QX and openings week year a the ago for from that versus and restaurant as return shift productivity. will XXXX $XX and diluted week. $X.XX share kitchen increase projected XXrd between volume the high both revenue
new Red excess free debt. expect of after restaurants flow to down We Robin pay XXXX in use net expect cash CapEx outstanding to to we open to three five and closures
team most a is position While further the business important on rapidly did to look back year and aggressively both significant the we reinvent what existing for our to was of Red and a put Robin in our future growth. improve work to transition, can members as company XXXX
Our expectations, is growth numbers restaurant the and different scores significant our at this execution NPS reaching model are of off-premise are are space. making our record progress the best-in-class, a and traffic our our for new service top on industry, exceeding levels, we
congratulate and Before I our operators our performance. for quarter close, again another let once me differentiated team of marketing
You've the guests our resources, have of great and our while change again good members care significant all stewards team to taken model. of been our service and absorbing company
investments improved and that EBITDA to of will continue shareholders, will priorities these will margins, the on capital that call to as returns on reduce capital that, overall is is Whether generate return. most on a your improve improvements operating the back or our expenses, prioritize capital overriding these return create. an comments or invested, it focus distribute capital return I'll investments We to we Denny the the incremental final based drive highly sales, already overall on expected to be shareholder correlated before questions. capital in that incremental take few total a returns filter turn for With