Ongoing menu enhancements and operational improvements contributed to a 2.3-percent increase in same-store sales at BJ’s Restaurants Inc. during the Sept. 29-ended third quarter, company officials said Thursday.
The Huntington Beach, Calif.-based chain’s net income increased more than 90 percent, to $12.4 million, or 48 cents per share, compared with $6.5 million, or 23 cents per share a year ago, in part because of a $2.9 million pre-tax gain related to a lease termination by the operator of a Los Angeles mall, which is undergoing significant renovations.
Revenues increased more than 11 percent, to $229.4 million.
Greg Trojan, BJ’s president and CEO, said in a statement that it was the fifth consecutive quarter of positive same-store sales. Coupled with productivity initiatives, it resulted in restaurant-level operating margins of 19.7 percent, a 210-basis-point year-over-year improvement, he said.
During the quarter, the chain introduced new “Loaded Burgers,” led by a top-selling Hickory Brisket and Bacon Burger, as well as a limited-time Peanut Butter and Jelly Pizookie dessert, and the Temple of Stone IPA beer made in collaboration with Stone Brewing Co.
Trojan said the recently introduced fall appetizer featuring Dry Rub and Root Beer Glazed Wings is also being well received by guests.
“By focusing on fundamentals such as food quality and value, menu innovation and gold-standard hospitality, we will continue to drive top-line sales,” Trojan said.
The casual-dining chain is on track to add 16 new restaurants this year, including one that opened earlier this month in Canton, Ohio, and another in Akron, Ohio, scheduled to open next week, followed by Longview, Texas, in November.
Another 18 to 19 restaurants are on deck for fiscal 2016, Trojan said.
The chain ended the quarter with 169 restaurants in 22 states, and Trojan sees an opportunity to reach 425 domestic locations over time.
Contact Lisa Jennings at [email protected].
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