Company: RRGB
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0001171759-25-000020
Chunk: 19

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-05-29
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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ancySixteen Weeks Ended(In thousands, except percentages)April 20, 2025April 21, 2024Percent ChangeOccupancy$32,197 $31,428 2.4 %As a percent of restaurant revenue8.3 %8.3 %— %

Occupancy costs include fixed rents, property taxes, common area maintenance charges, general liability insurance, contingent rents, and other property costs. Occupancy costs as a percentage of restaurant revenue was consistent for the first quarter of fiscal 2025 compared to the same period in fiscal 2024. 

Depreciation and Amortization

Sixteen Weeks Ended(In thousands, except percentages)April 20, 2025April 21, 2024Percent ChangeDepreciation and amortization$15,434 $18,154 (15.0)%As a percent of total revenues3.9 %4.7 %(0.8)%

Depreciation and amortization include depreciation on capital expenditures for restaurants and corporate assets as well as amortization of reacquired franchise rights, leasehold interests, and certain liquor licenses. For the first quarter of fiscal 2025, depreciation and amortization expense as a percentage of revenue decreased 80 basis points compared to the comparable period in 2024, primarily due to asset impairments, restaurant closures, and a sale-leaseback transaction reducing the depreciable asset base.

19

General and Administrative ExpensesSixteen Weeks Ended(In thousands, except percentages)April 20, 2025April 21, 2024Percent ChangeGeneral and administrative$26,989 $25,842 4.4 %As a percent of total revenues6.9 %6.7 %0.2 %

General and administrative costs include all corporate and administrative functions. Components of this category include restaurant support center, regional, and franchise support salaries and benefits, travel, professional and consulting fees, corporate information systems, legal expenses, office rent, training, and Board of Directors' expenses. 

General and administrative costs in the first quarter of fiscal 2025 were $27.0 million, an increase of $1.1 million compared to the comparable period in 2024. The increase is primarily related to higher costs associated with noncash stock-based compensation expense and other costs incurred for annual Partner recognition events.  This increase is partially offset by a reduction in team member costs associated with lower headcount.

Selling ExpensesSixteen