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BJ's Restaurants (BJRI) Enters Into Partnership With GrubHub
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BJ’s Restaurants, Inc. (BJRI - Free Report) has partnered with leading online and mobile food-ordering company in the United States — GrubHub Inc. — to offer turnkey delivery and corporate catering at 100 BJ's Restaurant & Brewhouse locations in California, Colorado, Florida, Kentucky, Maryland, Nevada, New Mexico, North Carolina, Ohio, Oregon, Pennsylvania, Arizona, Texas, Virginia and the District of Columbia.
Markedly, guests can now order their favorite dishes from BJ’s Restaurants easily via GrubHub's online and mobile platforms. In fact, GrubHub currently works with roughly 75,000 restaurant partners in more than 1,200 U.S. cities and London,
Given GrubHub’s constant efforts to elevate food ordering through inventive restaurant technology, user-friendly platforms and an enhanced delivery experience, this new partnership is liley to aid Bj’s Restaurants to reach out to new guests.
Currently, BJ’s Restaurants operates 195 casual dining restaurants across 25 states in the United States, under its brand names – BJ’s Restaurant & Brewhouse, BJ’s Restaurant & Brewery, BJ’s Pizza & Grill and BJ’s Grill.
So far this year, the company’s shares have declined 21.1%, as against the industry’s growth of 9.6%.
Soft consumer spending environment in the U.S. restaurant space has hurt BJ's Restaurants comps growth and put sales under pressure. The recent hurricanes have further dealt a blow to the company’s top-line growth. The company is thus implementing several major sales building initiatives to navigate the challenging macro environment.
In sync with these initiatives, this casual dining chain has completed the installation of new slow roasting ovens and server hand-held ordering tablets in all of its restaurants. In fact, the initial results from these two initiatives have been positive. While the new slow roasted menu items have boosted average check with high incident rates, the handheld rollout improved its order times.
Meanwhile, off-premise sales represent roughly 5% of the company’s revenues compared to an industry average of nearly 10-11%. Thus, the company believes that there is a tremendous opportunity for it to build this part of its business. In fact, BJ’s Restaurants intends to leverage its highly rated mobile app and website along with new third-party delivery partners to drive growth in off-premise sales, given its considerable revenue growth opportunity.
To this end, BJ’s Restaurants partnered with technology company DoorDash in July to initially launch door-to-door delivery at select BJ’s Restaurant & Brewhouse locations. The recent partnership with GrubHub should further enable it to cash in on the tremendously growing popularity of these services.
Though an uncertain sales environment and a slowdown in the company’s 2017 development plan remain concerns, we expect increased focus on growing off-premise, online-ordering business via delivery, take-out and catering to result in increased convenience for customers and add to BJ’s Restaurants top line, going forward.
In the trailing four quarters, McDonald’s and Restaurant Brands pulled off an average positive earnings surprise of 7.44% and 6.46%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
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BJ's Restaurants (BJRI) Enters Into Partnership With GrubHub
BJ’s Restaurants, Inc. (BJRI - Free Report) has partnered with leading online and mobile food-ordering company in the United States — GrubHub Inc. — to offer turnkey delivery and corporate catering at 100 BJ's Restaurant & Brewhouse locations in California, Colorado, Florida, Kentucky, Maryland, Nevada, New Mexico, North Carolina, Ohio, Oregon, Pennsylvania, Arizona, Texas, Virginia and the District of Columbia.
Markedly, guests can now order their favorite dishes from BJ’s Restaurants easily via GrubHub's online and mobile platforms. In fact, GrubHub currently works with roughly 75,000 restaurant partners in more than 1,200 U.S. cities and London,
Given GrubHub’s constant efforts to elevate food ordering through inventive restaurant technology, user-friendly platforms and an enhanced delivery experience, this new partnership is liley to aid Bj’s Restaurants to reach out to new guests.
Currently, BJ’s Restaurants operates 195 casual dining restaurants across 25 states in the United States, under its brand names – BJ’s Restaurant & Brewhouse, BJ’s Restaurant & Brewery, BJ’s Pizza & Grill and BJ’s Grill.
So far this year, the company’s shares have declined 21.1%, as against the industry’s growth of 9.6%.
Soft consumer spending environment in the U.S. restaurant space has hurt BJ's Restaurants comps growth and put sales under pressure. The recent hurricanes have further dealt a blow to the company’s top-line growth. The company is thus implementing several major sales building initiatives to navigate the challenging macro environment.
In sync with these initiatives, this casual dining chain has completed the installation of new slow roasting ovens and server hand-held ordering tablets in all of its restaurants. In fact, the initial results from these two initiatives have been positive. While the new slow roasted menu items have boosted average check with high incident rates, the handheld rollout improved its order times.
Meanwhile, off-premise sales represent roughly 5% of the company’s revenues compared to an industry average of nearly 10-11%. Thus, the company believes that there is a tremendous opportunity for it to build this part of its business. In fact, BJ’s Restaurants intends to leverage its highly rated mobile app and website along with new third-party delivery partners to drive growth in off-premise sales, given its considerable revenue growth opportunity.
To this end, BJ’s Restaurants partnered with technology company DoorDash in July to initially launch door-to-door delivery at select BJ’s Restaurant & Brewhouse locations. The recent partnership with GrubHub should further enable it to cash in on the tremendously growing popularity of these services.
Though an uncertain sales environment and a slowdown in the company’s 2017 development plan remain concerns, we expect increased focus on growing off-premise, online-ordering business via delivery, take-out and catering to result in increased convenience for customers and add to BJ’s Restaurants top line, going forward.
BJ’s Restaurants carries a Zacks Rank #3 (Hold). Some better-ranked stocks in this sector include McDonald's Corporation (MCD - Free Report) and Restaurant Brands International Inc. (QSR - Free Report) holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the trailing four quarters, McDonald’s and Restaurant Brands pulled off an average positive earnings surprise of 7.44% and 6.46%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>