Same-store sales decrease impacts the bottom line
.svg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale "Nation's Restaurant News")
BJ’s Restaurants Inc. reported Thursday a 6.9-percent dip in net income for the second quarter ended July 1 on same-store sales declines.
The Huntington Beach, Calif.-based casual-dining operator said same-store sales for the quarter fell 1.7 percent from the prior-year period.
However, same-store sales improved during the quarter, BJ’s president and chief executive Greg Trojan said in a statement, and the company finished June with positive guest traffic, which Trojan credited to school graduations, Father’s Day and the World Cup.
In the second quarter, BJ’s opened new restaurants in Katy, Texas, and Orlando and Palm Beach, Fla. The company closed a smaller format Pizza & Grill restaurant in Belmont Shore, Calif.
"Our next new restaurant is scheduled to open in Oviedo, Fla., in mid-August and will represent our first new 7,400-square-foot restaurant prototype,” Trojan said, adding that it is expected to cost about $1 million less than the current BJ’s prototype while producing comparable sales.
BJ's owns and operates 150 casual-dining restaurants under the BJ's Restaurant & Brewery, BJ's Restaurant & Brewhouse, BJ's Pizza & Grill and BJ's Grill brands.
2Q NET INCOME
Result: $8 million, or per 28 cents share
% Decrease: 6.9% (from $8.6 million, or 30 cents per share)
2Q REVENUE
Result: $219.4 million
% Increase: 10.5% (from $198.5 million)
2Q SAME-STORE SALES
% Decrease: 1.7%
Source: Company report
RELATED:
• BJ's Restaurants 1Q profit falls 44%
• Activist investors target BJ's Restaurants
• Same-Store Sales at NRN.com
Contact Ron Ruggless at [email protected].
Follow him on Twitter: @RonRuggless
