Red Robin profit slashed in 1Q

GREENWOOD VILLAGE Colo. Red Robin Gourmet Burgers Inc. said Thursday it would increase advertising and add new menu items to spark sales after its profit was nearly halved in the first quarter.

As a 425-unit casual-dining chain, Red Robin is in an industry segment that has been particularly hard hit during the recession as consumers trade down to less expensive fast causal and quick service operators. The company said the weak trends are likely to continue

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