BJ’s Restaurants Inc. reported a nearly 44-percent decline in net income for its first quarter ended April 1. Though the quarter got off to a rough start due to severe weather and “industry-wide traffic headwinds,” company officials said sales improved in the second half as it rolled out a new menu supported by a comprehensive advertising campaign that helped drive traffic.
The Huntington Beach, Calif.-based casual-dining operator said it plans to continue growing its lower-cost 7,400-square-foot prototype. Instead of opening 15 restaurants, as projected previously, the company said 11 units are scheduled to open this year, with four more pushed into 2015, bringing development plans to 15 locations for next year.
BJ’s owns and operates 149 restaurants under the BJ’s Restaurant & Brewery, BJ’s Restaurant & Brewhouse, BJ’s Pizza & Grill and BJ’s Grill brand names.
1Q NET INCOME
Result: $4.7 million, or 16 cents per share% Decrease: 43.7% (from $8.3 million, or 29 cents per share)
1Q REVENUE
Result: $205.8 million% Increase: 9% (from $188.6 million)
1Q SAME-STORE SALES
% Decrease systemwide: 2.9%Source: Company report
RELATED:
• BJ's Restaurants 4Q profit drops 93%
• BJ's Restaurants 3Q profit plummets 47%
• More restaurant finance news
Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout
