Red Robin Tests Kobe Beef Burgers

by Christopher Freeburn | January 22, 2013 1:13 pm

RedRobinBurgersLogo Red Robin Tests Kobe Beef Burgers[1]Burger lovers may soon be able to feast on a new line of high-end burgers [2]at Red Robin Gourmet Burgers (NASDAQ:RRGB[3]).

The restaurant chain is preparing to roll out a burgers made from Kobe beef and bison meat. Company officials told an audience at an investment conference this week that the restaurant is trying to gauge customers’ tastes and how much they’re willing to spend for pricey burgers, Restaurant News noted.

Red Robin could debut the new offerings later this year. One Wall Street analyst suggested that the premium burgers could be priced at $13.99 or $14.99.

Last year, the chain introduced its Tavern Double Burger, which proved a hit with consumers at $6.99.

Red Robin is also looking to introduce a range of desserts and appetizers, and it has remodeled 21 Denver restaurants to test consumer reactions to new designs. The company is also looking to increase its bar business without alienating family diners.

In April, Forbes noted that beef bearing the “Kobe” name in the U.S. was not, in fact, genuine Kobe beef because it’s currently illegal to import Japanese beef[4] — all true Kobe beef comes from Japan’s Hyogo Prefecture — to the U.S.

Shares of Red Robin rose fractionally in Tuesday afternoon trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2010/08/RedRobinBurgersLogo.jpg
  2. may soon be able to feast on a new line of high-end burgers : http://nrn.com/latest-headlines/red-robin-tests-new-premium-burger-line
  3. RRGB: http://studio-5.financialcontent.com/investplace/quote?Symbol=RRGB
  4. it’s currently illegal to import Japanese beef: http://investorplace.com/2012/04/forbes-no-real-kobe-beef-in-u-s/

Source URL: http://investorplace.com/2013/01/red-robin-tests-kobe-beef-burgers/
Short URL: http://invstplc.com/1fuxhL0