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BJ's Restaurants, Inc. (NASDAQ: BJRI) is a renowned chain of casual dining restaurants primarily located in the United States. Founded in 1978, BJ's has grown to own and operate over 200 restaurants in 30 states, offering a diverse and innovative menu that appeals to a wide range of tastes.
The company’s menu features a unique blend of Southern California flair with Chicago-style deep-dish pizza, complemented by their award-winning handcrafted beers brewed both in their own facilities and by independent third-party brewers. Notable items include their slow-roasted entrees like prime rib, the EnLIGHTened Entrees® such as Cherry Chipotle Glazed Salmon, and their world-famous dessert, the Pizookie®.
BJ's Restaurants takes pride in their community involvement and social responsibility. Recently, they partnered with Hav A Sole to donate shoes to children in need across the country, underscoring their commitment to making a positive impact beyond their dining rooms. This collaboration aims to provide necessary footwear to underprivileged kids and foster a sense of hope and community.
Financially, BJ's has continued to show resilience and growth. They have invested significantly in enhancing their beverage program, which led to them receiving the 2024 Vibe Vista Award for Best Overall Beverage Program for Multi-Unit Chain Restaurants. Their efforts in beverage innovation have resulted in an 8% increase in beverage sales in 2023, outperforming targeted competitors in the Beverage – Alcohol Sentiment category.
For investors, BJ's financial health is bolstered by their strategic capital expenditures and share repurchase programs. They also provide detailed reconciliations of GAAP financial measures to non-GAAP adjusted financial measures, including Adjusted EBITDA, which offers a clearer picture of their operating performance.
Whether you are looking for a casual dining experience with a touch of craft excellence or an investment opportunity in a growing and socially responsible company, BJ's Restaurants, Inc. offers a compelling proposition.
BJ's Restaurants (NASDAQ: BJRI) celebrates the 25th anniversary of its iconic Grand Cru beer, first created in 1999. This Belgian-style pale strong ale, known for its fruity and spicy profile from Belgian ale yeast, orange peel, and coriander, has become a holiday tradition and symbol of BJ's brewing excellence.
The beer has earned multiple accolades, including silver medals at the 2000 World Beer Cup and 2002 Great American Beer Festival. To mark this milestone, BJ's is offering a -edition silver collector's glass and 750ml bottles for purchase at all locations. Additionally, BJ's Oasis® Amber recently won Bronze at the 2024 Great American Beer Festival, adding to the company's impressive collection of over 260 brewing awards.
BJ's Restaurants (BJRI) reported its fiscal Q3 2024 results with total revenues increasing 2.2% to $325.7 million and comparable restaurant sales rising 1.7%. The company posted a net loss of $2.9 million ($0.13 per share), an improvement from the $3.8 million loss ($0.16 per share) in Q3 2023. Adjusted EBITDA was $18.5 million compared to $19.6 million last year. During Q3, BJRI opened two new restaurants and repurchased approximately 268,000 shares at a cost of $8.2 million. The company's traffic exceeded industry benchmarks by 570 basis points, though restaurant costs impacted margin performance.
BJ's Restaurants, Inc. (NASDAQ: BJRI) has announced the date for its third quarter 2024 earnings release and conference call. The company will release its Q3 2024 results after the market closes on Thursday, October 31, 2024. An investor conference call is scheduled for 2:00 p.m. Pacific Time on the same day.
The conference call will be broadcast live over the Internet. Interested parties can access the call by visiting the "Investors" page of BJ's Restaurants' website at http://www.bjsrestaurants.com. Participants are advised to register and download any necessary audio software several minutes before the call begins. An archive of the presentation will be available on the website for 30 days following the call.
BJ's Restaurants, Inc. (NASDAQ: BJRI) has announced the opening of its new restaurant in Cypress, Texas. The BJ's Restaurant & Brewhouse opened on September 30, 2024, in the Cyfair Town Center. Key features include:
- Approximately 7,500 square feet in size
- Seating for about 250 guests
- Extensive menu featuring signature deep-dish pizza, handcrafted beer, and Pizookie® dessert
- Contemporary décor suitable for all dining occasions
- Operating hours: 11:00 a.m. to midnight (Sun-Thu), 11:00 a.m. to 1:00 a.m. (Fri-Sat)
This marks the company's last new restaurant opening for fiscal 2024 and joins seven existing locations in the Houston market. As part of their community engagement, BJ's donates a portion of pre-opening proceeds to the BJ's Restaurants Foundation.
BJ's Restaurants, Inc. (NASDAQ: BJRI) has launched a new $13 Pizookie® Meal Deal to combat inflation and provide value to customers. The deal includes a choice of eight brewhouse entrees and a signature personal Pizookie® dessert. Available at BJ's Restaurant & Brewhouse locations nationwide, the offer aims to create an experience that's both affordable and satisfying.
The meal deal features popular entrees such as Italian Chicken Parmigiana Pasta, Classic Cheeseburger, Southern Fried Chicken, and Strawberry Fields Chicken Salad. Customers can also choose from eight Pizookie® flavors for their dessert. The offer is available for dine-in, take-out, and delivery, Monday through Friday, for a time.
BJ's Restaurants, Inc. (Nasdaq: BJRI) has announced the appointment of Lyle D. Tick as President and Chief Concept Officer, effective September 9, 2024. Tick, former Brand President of Buffalo Wild Wings, brings extensive experience in revitalizing iconic brands and driving growth. His background includes leadership roles at On the Border Mexican Grill & Cantina, Buffalo Wild Wings, and Walgreens Boots Alliance.
Interim CEO Brad Richmond and Board Chair Lea Anne S. Ottinger expressed confidence in Tick's ability to enhance BJ's brand relevance, awareness, and financial outcomes. Tick's expertise in consumer goods and spirit brands is expected to bring a fresh perspective to BJ's marketing, innovation, culinary, beverage, and brewing teams.
BJ's Restaurants, Inc. (Nasdaq: BJRI) announced a significant leadership change on August 28, 2024. C. Bradford Richmond, a current Board Director and former CFO of Darden Restaurants, has been appointed Interim Chief Executive Officer. Richmond, who joined the Board in February 2024, brings extensive experience in finance and strategic planning from his tenure at Darden and other restaurant brands.
Concurrently, Gregory S. Levin, the current CEO and President, will step down from his executive positions and the Board. Levin's 19-year tenure saw BJ's expand to 217 restaurants across 31 states. The Board expressed gratitude for his leadership, particularly during recent challenging years in the industry.
This transition aims to enhance BJ's brand awareness, drive operational excellence, and focus on sustainable growth and profitability. The company anticipates that Richmond's leadership will guide BJ's towards improved financial outcomes and long-term shareholder value creation.
BJ's Restaurants, Inc. (NASDAQ: BJRI) has opened a new BJ's Restaurant & Brewhouse in Tracy, California on August 26, 2024. The 7,500 square-foot restaurant, located next to West Valley Mall, seats approximately 250 guests and features BJ's extensive menu, including their signature deep-dish pizza, handcrafted beer, and Pizookie® dessert. This marks the second restaurant opening of the year for BJ's in California.
CEO Greg Levin expressed excitement about the new location in the Central Valley region, noting it's an area where BJ's has some of its highest sales volume restaurants. The company remains on track to open its last restaurant of the year next month in Houston, Texas, with a strong pipeline for 2025 openings. As part of their community engagement, BJ's donates a portion of pre-opening proceeds to the BJ's Restaurants Foundation.
BJ's Restaurants announced its participation in the upcoming Piper Sandler Growth Frontiers Conference on September 10, 2024. The event will take place at the Virgin Hotels Nashville in Tennessee. BJRI management will engage in one-on-one meetings with attendees during the conference.
This participation highlights BJ's Restaurants' commitment to investor relations and provides an opportunity for the company to discuss its growth strategies and market position. The conference serves as a platform for BJRI to connect with industry analysts and potential investors, potentially impacting its stock performance and market visibility.
BJ's Restaurants, Inc. (NASDAQ: BJRI) reported its fiscal 2024 second quarter results, showing a slight 0.1% increase in total revenues to $349.9 million. Despite a 0.6% decline in comparable restaurant sales, net income rose to $17.2 million from $11.9 million year-over-year, with diluted net income per share increasing to $0.72 from $0.50. Adjusted EBITDA improved to $36.1 million, up from $31.8 million in the same quarter last year.
The company saw improved sales trends throughout the quarter, particularly around key celebrations like Mother's Day and Father's Day. Restaurant level operating margins increased by 100 basis points to 15.5%. BJ's remains on track with its expansion plans, having opened one new restaurant in the first half of 2024 and planning two more in the second half. The company also continues its remodel initiative and share repurchase program, having bought back approximately 255,000 shares at a cost of $8.8 million during Q2 2024.
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