BJ's Restaurants, Inc. (BJRI - Free Report) reported fourth-quarter 2020 preliminary results. The company is witnessing improving sales in 2021. In the first three weeks of January, comparable restaurant sales improved to (37.2%) from (45.3%) in December 2020.Comparable restaurant sales for the period ended Oct 27, Nov 27 and Dec 29 declined 20.6%, 27% and 45.3%, respectively. Moreover, for the week ended Jan 5, Jan 12 and Jan 19, 2021 comparable restaurant sales decreased 36.2%, 38.4% and 36.9%, respectively.
Greg Trojan, CEO said “As we manage near-term challenges and demonstrate continuous sales growth in markets that have remained open, we are confident in our ability to outperform the casual dining sector and generate long-term growth through a differentiated dining experience.”
Shares of the company have soared 145.9% in the past six months, compared with the industry’s growth of 19.3%.
Q4 Preliminary Results
The company reported preliminary fourth-quarter revenues of $197 million, down 32.3% year over year. Comparable restaurant sales in the quarter declined 32.3%. Moreover, BJ's Restaurants reported restaurant level operating profit in the range of $12.5 million to $13.5 million.The company anticipates impairment charges for the fourth quarter between $2.5 million and $4.5 million. As of Jan 21, 2021, the company had cash and cash equivalents of roughly $40.8 million.
Off-premise sales continues to be impressive. Off-premise sales have increased more than 2.5 times compared with the pre-pandemic level. In the recent months, the company has invested in its restaurants for upgrading outdoor patios and installing glass dividers to ensure guest safety.
Zacks Rank & Key Picks
BJ's Restaurants has a Zacks Rank #3 (Hold). Some better-ranked stocks worth considering in the same space include Yum! Brands, Inc. (YUM - Free Report) , Del Taco Restaurants, Inc. and Jack in the Box Inc. (JACK - Free Report) . All these stocks have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Yum! Brands and Del Taco Restaurants have an impressive long-term earnings growth rate of 12.3% and 15%, respectively.
Jack in the Box fiscal 2021 earnings is expected to witness growth of 20.4%.
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BJ's Restaurants, Inc. (BJRI - Free Report) reported fourth-quarter 2020 preliminary results. The company is witnessing improving sales in 2021. In the first three weeks of January, comparable restaurant sales improved to (37.2%) from (45.3%) in December 2020.
Comparable restaurant sales for the period ended Oct 27, Nov 27 and Dec 29 declined 20.6%, 27% and 45.3%, respectively. Moreover, for the week ended Jan 5, Jan 12 and Jan 19, 2021 comparable restaurant sales decreased 36.2%, 38.4% and 36.9%, respectively.
Greg Trojan, CEO said “As we manage near-term challenges and demonstrate continuous sales growth in markets that have remained open, we are confident in our ability to outperform the casual dining sector and generate long-term growth through a differentiated dining experience.”
Shares of the company have soared 145.9% in the past six months, compared with the industry’s growth of 19.3%.
Q4 Preliminary Results
The company reported preliminary fourth-quarter revenues of $197 million, down 32.3% year over year. Comparable restaurant sales in the quarter declined 32.3%. Moreover, BJ's Restaurants reported restaurant level operating profit in the range of $12.5 million to $13.5 million.
The company anticipates impairment charges for the fourth quarter between $2.5 million and $4.5 million. As of Jan 21, 2021, the company had cash and cash equivalents of roughly $40.8 million.
Off-premise sales continues to be impressive. Off-premise sales have increased more than 2.5 times compared with the pre-pandemic level. In the recent months, the company has invested in its restaurants for upgrading outdoor patios and installing glass dividers to ensure guest safety.
Zacks Rank & Key Picks
BJ's Restaurants has a Zacks Rank #3 (Hold). Some better-ranked stocks worth considering in the same space include Yum! Brands, Inc. (YUM - Free Report) , Del Taco Restaurants, Inc. and Jack in the Box Inc. (JACK - Free Report) . All these stocks have a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Yum! Brands and Del Taco Restaurants have an impressive long-term earnings growth rate of 12.3% and 15%, respectively.
Jack in the Box fiscal 2021 earnings is expected to witness growth of 20.4%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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