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BJ's Restaurants (BJRI) Expands Footprint in San Antonio
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BJ's Restaurants, Inc. (BJRI - Free Report) announced the opening of its new Restaurant & Brewhouse on Apr 10, 2023, marking its sixth restaurant opening in San Antonio, TX.
The restaurant is on a free-standing pad on the corner of Southeast Military Drive and South New Braunfels Avenue, seating approximately 250 guests. It highlights BJ’s wide-ranging menu along with the unique and contemporary décor suitable for all dining occasions.
Pertaining to the opening, chief executive officer and president of BJ's Restaurants, Greg Levin said, “We are excited to open our second restaurant of the year in the southside of San Antonio, Texas in Brooks City Base, a mixed-use development. We remain on track with our 2023 openings and look forward to opening three additional restaurants later this year.”
Growth Drivers
Shares of BJRI have gained 10.5% year to date compared with the Zacks Retail - Restaurants industry’s growth of 9.1%.
Image Source: Zacks Investment Research
BJ's Restaurants is benefiting from expansion efforts. In fiscal 2022, the company opened six new restaurants and reported solid sales with respect to the same. In fiscal 2023, the company intends to open five new restaurants (including one relocation). It also emphasized on expanding its remodel initiative to more than 30 restaurants. Given the level of new restaurant expansion combined with driving positive comparable restaurant sales, the company expects high-single-digit revenue growth in the coming years. As of Feb 27, BJ’s Restaurants owned and operated 216 casual dining restaurants (in 30 states).
BJ’s Restaurants’ heavy investments in technology-driven initiatives help it to boost sales. The company’s app and digital platforms are allowing it to more effectively and efficiently offer promotions. During the fiscal 2022 second quarter, the company initiated the piloting of a digital order tracker and integrated it with the digital curbside check-in portal. The initiative provides real-time progress information for guests ordering take-out, curbside and white-label delivery. Additionally, the company’s loyalty guest database continues to grow well with the steady increase in transactions. Also, its extensive focus on refining and streamlining its menu is the key driver for improved traffic.
During the second quarter of fiscal 2022, BJRI made solid progress with respect to its pilot remodels concerning dining room capacity expansion and new design elements. The company expanded the initiative to four restaurants and reported solid sales from the remodeled locations. Backed by positive customer feedback, the company remains optimistic in this regard and expects to proceed with the initiative in the upcoming periods.
Here are some better-ranked stocks that investors may consider in the Zacks Retail-Wholesale sector.
Tecnoglass Inc. (TGLS - Free Report) sports a Zacks Rank #1 at present. TGLS delivered a trailing four-quarter earnings surprise of 21.5%, on average. Shares of the company have gained 99.4% in the past six months.
The Zacks Consensus Estimate for TGLS’s 2023 sales and EPS suggests growth of 13.4% and 15.4%, respectively, from the year-ago period’s reported levels.
Chuy's Holdings, Inc. (CHUY - Free Report) currently has a Zacks Rank #1. CHUY delivered a trailing four-quarter earnings surprise of 19.1%, on average. Shares of CHUY have risen 45.2% in the past six months.
The Zacks Consensus Estimate for CHUY’s 2023 sales and EPS suggests growth of 10.8% and 19%, respectively, from the year-ago period’s reported levels.
The Kroger Co. (KR - Free Report) currently sports a Zacks Rank #1. KR delivered a trailing four-quarter earnings surprise of 9.8%, on average. The stock has gained 3% in the past six months.
The Zacks Consensus Estimate for KR’s fiscal 2024 sales and EPS suggests growth of 2.5% and 6.6%, respectively, from the year-ago period’s reported levels.
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BJ's Restaurants (BJRI) Expands Footprint in San Antonio
BJ's Restaurants, Inc. (BJRI - Free Report) announced the opening of its new Restaurant & Brewhouse on Apr 10, 2023, marking its sixth restaurant opening in San Antonio, TX.
The restaurant is on a free-standing pad on the corner of Southeast Military Drive and South New Braunfels Avenue, seating approximately 250 guests. It highlights BJ’s wide-ranging menu along with the unique and contemporary décor suitable for all dining occasions.
Pertaining to the opening, chief executive officer and president of BJ's Restaurants, Greg Levin said, “We are excited to open our second restaurant of the year in the southside of San Antonio, Texas in Brooks City Base, a mixed-use development. We remain on track with our 2023 openings and look forward to opening three additional restaurants later this year.”
Growth Drivers
Shares of BJRI have gained 10.5% year to date compared with the Zacks Retail - Restaurants industry’s growth of 9.1%.
Image Source: Zacks Investment Research
BJ's Restaurants is benefiting from expansion efforts. In fiscal 2022, the company opened six new restaurants and reported solid sales with respect to the same. In fiscal 2023, the company intends to open five new restaurants (including one relocation). It also emphasized on expanding its remodel initiative to more than 30 restaurants. Given the level of new restaurant expansion combined with driving positive comparable restaurant sales, the company expects high-single-digit revenue growth in the coming years. As of Feb 27, BJ’s Restaurants owned and operated 216 casual dining restaurants (in 30 states).
BJ’s Restaurants’ heavy investments in technology-driven initiatives help it to boost sales. The company’s app and digital platforms are allowing it to more effectively and efficiently offer promotions. During the fiscal 2022 second quarter, the company initiated the piloting of a digital order tracker and integrated it with the digital curbside check-in portal. The initiative provides real-time progress information for guests ordering take-out, curbside and white-label delivery. Additionally, the company’s loyalty guest database continues to grow well with the steady increase in transactions. Also, its extensive focus on refining and streamlining its menu is the key driver for improved traffic.
During the second quarter of fiscal 2022, BJRI made solid progress with respect to its pilot remodels concerning dining room capacity expansion and new design elements. The company expanded the initiative to four restaurants and reported solid sales from the remodeled locations. Backed by positive customer feedback, the company remains optimistic in this regard and expects to proceed with the initiative in the upcoming periods.
Zacks Rank & Key Picks
BJRI currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Here are some better-ranked stocks that investors may consider in the Zacks Retail-Wholesale sector.
Tecnoglass Inc. (TGLS - Free Report) sports a Zacks Rank #1 at present. TGLS delivered a trailing four-quarter earnings surprise of 21.5%, on average. Shares of the company have gained 99.4% in the past six months.
The Zacks Consensus Estimate for TGLS’s 2023 sales and EPS suggests growth of 13.4% and 15.4%, respectively, from the year-ago period’s reported levels.
Chuy's Holdings, Inc. (CHUY - Free Report) currently has a Zacks Rank #1. CHUY delivered a trailing four-quarter earnings surprise of 19.1%, on average. Shares of CHUY have risen 45.2% in the past six months.
The Zacks Consensus Estimate for CHUY’s 2023 sales and EPS suggests growth of 10.8% and 19%, respectively, from the year-ago period’s reported levels.
The Kroger Co. (KR - Free Report) currently sports a Zacks Rank #1. KR delivered a trailing four-quarter earnings surprise of 9.8%, on average. The stock has gained 3% in the past six months.
The Zacks Consensus Estimate for KR’s fiscal 2024 sales and EPS suggests growth of 2.5% and 6.6%, respectively, from the year-ago period’s reported levels.