Red Robin Gourmet Q4 Restaurant Revenue Up 2.4%, Comps Increases 2.5%

Red Robin Gourmet Burgers, Inc. (RRGB) Monday announced 2.4 percent increase in fourth-quarter revenue, while comparable restaurant revenue increased 2.5 percent from the prior year. Excluding the Red Robin Royalty program, comparable restaurant revenue were up 1.5 percent.

The full-service restaurant chain reported quarterly revenue of $290.2 million, compared to $276.7 million in the prior year.

In another announcement, the restaurant chain released its ‘North Star’ five-point plan to drive long-term shareholder value. The plan is expected to empower decision-making by operators are the unit level and rewards will be given to drive business growth.

Farm Bureau, Deere & Co. Sign MoU Giving Farmers Right To Repair Their Equipment

The American Farm Bureau Federation (AFBF) and Deere & Co., one of the world’s largest manufacturers of farming equipment, signed a Memorandum of Understanding (MoU) that will allow farmers to repair their own farm equipment.

David Gilmore, a senior vice president at Deere & Co., says the MoU will help farmers get equipment back in the field quickly following a breakdown.

He added that as a result of the partnership, farmers can repair their equipment and have access to the diagnostic tools and product guides so that they can find the problems and find solutions for them.

Previously, farmers did not have the freedom to repair their equipment where they wanted to, and were only allowed to use authorized parts and service facilities rather than cheaper independent repair options.

In an executive order that he signed in 2021, President Joe Biden had urged the Federal Trade Commission to draft a federal policy giving permission to customers to repair their own products, especially in the technology and farming sectors.

The MoU was announced at the 2023 American Farm Bureau Federation Convention in San Juan, Puerto Rico.

The MoU, which provides big relief for farmers and ranchers in the United States, comes after several years of discussions.

AFBF President Zippy Duvall said this was an issue that has been a priority for the organization for several years and has taken a lot of work to get to this point.

BD, CerTest Biotec: Mpox Diagnostic Test Gets FDA's EUA

Medical technology company Becton, Dickinson and Co. or BD (BDX) and CerTest Biotec announced Monday emergency use authorization or EUA from the U.S. Food and Drug Administration for a molecular polymerase chain reaction or PCR assay for Mpox virus detection.

The company noted that the VIASURE Monkeypox Virus Real Time PCR Reagents for BD MAX System is now available for BD MAX System users.

The BD MAX System is a fully integrated, automated platform that performs nucleic acid extraction and real-time PCR providing results for up to 24 samples across multiple syndromes in less than three hours.

Nikos Pavlidis, vice president of Molecular Diagnostics at BD, said, “The large installed base of the BD MAX System in hospital labs provides broad access to testing for a wide range of infectious diseases, now including the mpox virus. EUA for the assay enables it to be used for timely diagnosis and may help avert further global spread of the disease.”

As with all CerTest assays, the VIASURE Monkeypox Virus PCR Detection assay for the BD MAX System is offered in a lyophilized format. The assay will come in a tube that snaps into the test-specific position on the BD MAX ExK TNA extraction strip, which is supplied by BD.

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Chico's FAS 9-week Holiday Period Comps. Up 5.3%; Updates Q4 Outlook

Chico’s FAS, Inc. (CHS) said its total net sales grew 4.9% over last year and comparable sales grew 5.3% for the nine-week holiday period ending December 31, 2022. Looking forward, the company is on track to post low-to-mid-single-digit total company comparable sales growth for the fourth quarter on top of 29% comparable sales growth in last year’s fourth quarter.

Chico’s FAS has updated its fourth quarter outlook and now expects total net sales to range from $505 million to $515 million and per share results to range from a loss of $0.02 to breakeven.

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MIMEDX Group Backs Q4, FY22 Outlook

MiMedx Group, Inc. (MDXG), placental biologics firm, on Monday reaffirmed its guidance for the fourth quarter and fiscal 2022.

For the fourth quarter, the company confirmed its sales view of $73 million to $76 million. Four analysts, on an average, polled by Thomson-Reuters estimate the firm to report sales of $74.53 million, for the quarter.

For the full-year, MiMedx continues to forecast revenue of $266 million to $269 million. Analysts, on average now project the company to register sales of $268 million, for the year.

Rigel Pharmaceuticals Expects Q4 Revenue To Surge

Rigel Pharmaceuticals, Inc. (RIGL), a company focused on hematologic, cancer, and rare immune diseases, expects its fourth-quarter revenue to be $51.3 million, more than double from last year.

The revenue includes TAVALISSE preliminary net product sales of around $21.9 million and REZLIDHIA preliminary net product sales of approximately $0.9 million..

Last year, the company had reported revenue of $20.41 million.

Six analysts, on average, polled by Thomson-Reuters expect the firm to report sales of $21.65 million, for the quarter.

Kiev Dismisses Russia's Claim Of Killing 600 Ukrainian Soldiers

Ukraine dismissed Russian claim of mass murder of its troops in a weekend attack in the eastern city of Kramatorsk.

The Russian Ministry of Defense said on Sunday that 600 Ukrainian soldiers were killedin a wave of rocket attacks they carried out after a 36-hour Russian-proposed ceasefire ended overnight Saturday.

Multiple media outlets reported that their reporters on the ground could not find any indications to this effect.

But on Monday, the Kremlin insisted on Russian Ministry of Defense statements. Senior Ukrainian military commander Col. Gen. Oleksandr Syrskyi said “the enemy suffered significant losses and once again retreated” as a result of counterattack by Ukrainian forces in the embattled eastern regions of Bakhmut and Soledar in Donetsk.

President Volodymyr Zelensky called them one of the bloodiest places on the front line.

Ukraine’s Kharkiv region came under missile attacks and shelling on Monday. Meanwhile, the Belarusian Defense Ministry announced 17-day Russia-Belarus joint air force exercises in Belarus from January 16.

As a result of a prisoner swap Sunday by Russia and Ukraine, 100 soldiers from both sides reportedly returned to their nations.