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Red Robin shares slide after 3Q earnings miss

Burger brand to pause unit growth, shift investments to new models

Red Robin Gourmet Burgers Inc.’s decision to pause unit growth at the end of 2018 will allow it to shift investments to test new models, company executives said Monday.

The Greenwood Village, Colo.-based casual-dining chain missed on earnings for the third quarter ended Oct. 1, sending its shares plunging Tuesday. Red Robin’s stock was down nearly 30 percent at midday Tuesday, trading at about $47.25 a share compared to Monday’s close of $67.05 a share.

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