IRG Jan 2016 Investor Presentation

8/20/2019 IRG Jan 2016 Investor Presentation

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Safe Harbor

This presentation contains forward-looking statements, as defined by federal and state securitieslaws. Forward-looking statements include statements concerning plans, objectives, goals, strategies,

expectations, intentions, projections, developments, future events, performance or products,underlying assumptions, and other statements which are other than statements of historical facts. Insome cases, you can identify forward-looking statements by terminology such as ''may,'' ''will,''''should,'' ''hope,'' ''expects,'' ''intends,'' ''plans,'' ''anticipates,'' ''contemplates,'' ''believes,'' ''estimates,''''predicts,'' ''projects,'' ''potential,'' ''continue,'' and other similar terminology or the negative of theseterms. Forward-looking statements are only predictions that relate to future events or our futureperformance and are subject to known and unknown risks, uncertainties, assumptions, and otherfactors, many of which are beyond our control, that may cause actual results, outcomes, levels of

activity, performance, developments, or achievements to be materially different from any futureresults, outcomes, levels of activity, performance, developments, or achievements expressed,anticipated, or implied by these forward-looking statements. As a result, we cannot guarantee futureresults, outcomes, restaurant activity, performance, developments, or achievements, and there canbe no assurance that our expectations, intentions, anticipations, beliefs, or projections will result orbe achieved or accomplished. These forward-looking statements are made as of the date hereof andare based on current expectations, estimates, forecasts and projections as well as the beliefs andassumptions of management. Our actual results could differ materially from those stated or impliedin forward-looking statements. We do not intend to update these forward-looking statements eventhough our situation may change in the future. Further, we encourage you to review the risks that weface and other information about us discussed in our Annual Report on Form 10-K for the fiscal yearended December 29, 2014 and our other filings with the Securities and Exchange Commission(SEC) which are available at www.sec.gov.


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Robert Merritt, CEO


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David Catalano, COO


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High Energy & Surprisingly Fast

People and service

Execute, execute, execute

SimplificationMenu and process

Leverage synergies between brands

Training

Recruiting

Eliminate duplication

Invest in our people

Ignite 2016 Operational Focal Points


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Sourcing talent

Recruiting efforts are now directed by Operationswhich will allow us to expand our focus

Training & Retention

PlayerLync training and development softwareimplementation

Career development Succession planning

Invest In Our People


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Many restaurants have:

Waterfront locations

Patio seating

Playground for the kids

Crab and lobster deliberately placedcenter stage of menu

Per person average of approximately $25

Joe’s Crab Shack

evenue mix

Food86%

Liquor,beer,wine

13%

Retail1%


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Menu simplification

Weekly value

Monday: Kids Eat Free

Tuesday: $2 Tuesday’s

Wednesday: All You Can Eat Crab

Thursday: $15 Lobsters

Friday-Sunday: Concept & Celebration

Celebration, large parties and group sales

Traffic Led Recovery for Joe’s


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Lunch menu

Main objectives are value, price, and speed

Intended to increase sales and traffic at lunch

Simplified menu is designed to reduce labor costs duringlunch daypart

No tipping service model

Currently in 18 restaurants Continuing to evaluate results before making a final

decision to continue or expand the test

Current Tests


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Brick House Tavern + Tap- Grapevine


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Innovative food selections

Multi-use brand for Guests

Serves four distinct dayparts

Daypart mix Revenue mix

Food60%

Liquor,Beer,Wine40%

Lunch20%

Dinner39%

LateNight

18%

Afternoon23%

Brick House Tavern + Tap


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AUVs continue to be strong

Current sales pressure

Late night daypart

Texas

New restaurant openings

Opened 2 new restaurants during 2015 (Princeton, NJand Grapevine, TX)

We currently have 3 new restaurants under construction

Latham, NY, Sugarland, TX, and Methuen, MA

Expected opening dates: 1/26, 2/2, 2/9

Sales Recap


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Brad Leist, CFO


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2015 Recap

Total sales and SSS

Completed the sale of Macaroni Grill in April 2015Management team streamlined, reduced G&A

Closed 9 Joe’s (3 conversions, 3 sales, 1 to reopen)

Opened the first Joe’s franchise location in Dubai

(in millions) Sales SSS Sales SSS

Joe's 74.0$ (2.9)% 414.3$ (4.5)%Brick House 19.2 (2.8)% 77.7 1.0%

Ignite 93.2$ (2.9)% 492.0$ (3.9)%

Q4 2015 Full Year


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Improve sales and margins in both brands

Refinance and pay down debt

Voluntarily paid down $35 million in December

which reduces annual interest expense by $2.8million

18-month non-call period ends in February 2016

Near Term Priorities

IRG Jan 2016 Investor Presentation

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