Targeted Strategies for Today's Evolving Markets

MissionIR Blog

BJ’s Restaurants, Inc. (BJRI) Opens New Restaurants in Ohio and Kentucky

BJ’s Restaurants, Inc. (BJRI), headquartered in Huntington Beach, California, currently owns and operates 69 casual dining restaurants under the brand names BJ’s Restaurant & Brewery, BJ’s Restaurant & Brewhouse, or BJ’s Pizza and Grill. The company operates several microbreweries which produce and distribute BJ’s handcrafted beers throughout the chain. The company’s restaurants are located in California, Texas, Arizona, Colorado, Oregon, Nevada, Florida, Ohio, Kentucky, and Oklahoma. BJ Restaurants, Inc. also has a licensing interest in a BJ’s restaurant in Lahaina, Maui, Hawaii.

Financial results for the fourth quarter and fiscal year end, released in February, reported the following: for the 13 weeks ended January 1, 2008 compared to the same period in the previous year, revenues increased 29% to $85.2M; net income increased approximately 31% to $3.7M; comparable restaurant sales increased 4.9%; and diluted net income per share rose 27% to $0.14. For the 52 weeks ended January 1, 2008 compared to the same period in the previous year, revenue increased 32% to $316.1M; comparable restaurant sales increased 6.2%; and net income and fully diluted net income per share increased approximately 19% and 7% to $11.7M and $0.44, respectively.

In February 2008, the company announced the opening of two restaurants in Cincinnati, Ohio and Louisville, Kentucky (the company’s 69th and 70th restaurants respectively). Both restaurants, at 9,000 sq. ft. each, contain seating for approximately 270-275 guests and feature an extensive menu that includes BJ’s signature deep-dish pizza, handcrafted beer and Pizookie® dessert. The company plans to open as many as 15 new restaurants during 2008. All prospective locations for potential 2008 openings have been secured and eight new restaurants are currently under construction.

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *