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Fly News Breaks for April 4, 2019
Apr 4, 2019 | 07:23 EDT
BTIG analyst Peter Saleh kept his Neutral rating on Red Robin after the company announced a CEO change and pre-announced a bigger than expected decline for its Q1 comps. The analyst says the company cited weather factors behind the soft outlook and expects those to be "a theme in Q1 earnings", warning that Red Robin may have to cut its FY19 guidance when it reports results in May. Saleh adds that continued turnaround challenges and "more structural issues" at Red Robin are keeping him at Neutral.