BJ’s Restaurants reports 4.3% increase in Q1 revenue to $290.55m

30th April 2019 (Last Updated May 2nd, 2019 10:45)

American chain BJ’s Restaurants has reported a 4.3% increase in revenues to $290.55m for the first quarter of 2019 (Q1) ending 2 April, compared to $278.52m in the same period last year.

American chain BJ’s Restaurants has reported a 4.3% increase in revenues to $290.55m for the first quarter of 2019 (Q1) ending 2 April, compared to $278.52m from the same period last year.

The restaurant also reported a net income of $12.86m, compared to $14.7m for the same period in the previous year.

Comparable restaurant sales of the company for the quarter increased by 2% and total restaurant operating weeks increased approximately by 2.5%.

The restaurant chain also reported a diluted net income per share of $0.60, compared to $0.70 during the first quarter of 2018.

BJ’s Restaurants CEO Greg Trojan said: “BJ’s strong sales momentum in the latter part of the quarter offset challenging weather conditions throughout the country and drove another quarter of solid top and bottom line results.

“Our comparable restaurant sales were driven by positive guest traffic growth of 0.7%, marking the sixth consecutive quarter of positive traffic.”

“Our comparable restaurant sales were driven by positive guest traffic growth of 0.7%, marking the sixth consecutive quarter of positive traffic, as we successfully hurdled last year’s first quarter comparable restaurant sales growth of 4.2%.”

In addition, BJ’s opened one new restaurant in Toledo, Ohio, during the first quarter of this year bringing the restaurants open at period-end to 203.

The company has also opened its second new restaurant of the year and its 204th restaurant in Sterling Heights, Michigan, during the second quarter of 2019.

Trojan added: “We expect to open an additional restaurant in the second quarter and four to six restaurants in the second half of this year for a total of seven to nine new restaurants in fiscal 2019.

“While our 2019 development pipeline is in excellent shape and the opportunity for continued national expansion remains significant, we will maintain a balanced approach to new restaurant growth to ensure new restaurant quality and execution takes precedence over new restaurant quantity.”