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BJ’s 4Q profit rises 32.2%

BJ’s 4Q profit rises 32.2%

Casual-dining concept’s same-store sales increased 0.7 percent in period

BJ’s Restaurants Inc.’s net income rose 32.2 percent for the fourth quarter ended Dec. 29, and same-store sales increased slightly, the company reported Thursday.

The Huntington Beach, Calif.-based casual-dining chain reported net income of $10.9 million, or 43 cents a share, up from $8.3 million, or 31 cents a share, in the prior-year quarter. Revenues were up 9 percent, to $233.1 million, from $213.9 million in the same quarter a year ago.

Same-store sales in the fourth quarter were up 0.7 percent, the company said.

“The 32.2 percent rise in fourth-quarter net income and 38.7 percent growth in diluted net income per share concluded a record financial year for BJ’s,” said Greg Trojan, BJ’s president and CEO, in a statement.

“We finished the fourth quarter with 9 percent revenue growth, inclusive of positive comparable restaurant sales of 0.7 percent, despite the headwinds created by the Halloween and Christmas holiday calendar shifts,” Trojan added.

Same-store sales for the year were up 1.7 percent and unit-level cash-flow margins were 19.9 percent, Trojan said, adding that it marked “our highest four-wall restaurant margins in over four years, and delivered record net income and net income per share.” He credited ongoing productivity initiatives for boosting restaurant-level margins.

In the fourth quarter, BJ’s opened three new restaurants: Akron and Canton, Ohio, and Longview, Texas. The company said it plans to open 18 to 19 new restaurants in 2016, already debuting in Beavercreek, Ohio, and Victorville, Calif.

BJ’s owns and operates 172 restaurants in 22 states.

Contact Ron Ruggless at [email protected].
Follow him on Twitter: @RonRuggless

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