BJ’s Restaurants BJRI continues to strengthen its foothold in the restaurant space. Recently, the company announced the opening of BJ’s Restaurant & Brewhouse, on a free-standing pad on North Green River Road, at Eastland Mall. Notably, this 7,500 square feet restaurant with nearly 230 seating space for its guests marks the company’s sixth restaurant in the state of Indiana.
The new hotel will offer BJ’s signature deep-dish pizza, award-winning handcrafted beer and famous Pizookie dessert. The company also provides a unique, contemporary décor for all dining occasions. These strategic initiatives will enrich the dining experience.
Expansion Plans to Drive Traffic & Sales
We believe the company’s effort to expand its footprint, and refine and streamline menu will help drive sales and traffic. In the long run, BJ’s Restaurants plans to open at least 425 BJ's in the United States. In the fourth quarter of 2019, the company is looking forward to open two new restaurants in Tulsa, OK, and Denver, CO.
With an increased focus on productivity and efficiency along with a steady restaurant opening plan the company is further heading toward near and long-term success. BJ’s Restaurants’ second-quarter 2019 revenues reflect that it has been delivering positive comparable restaurant sales and off-premise sales.
Comparable restaurant sales in the second quarter rose 2% owing to a 3% increase in average check. The company’s off-premise sales continued to grow at more than 20%. Further, the company expects this channel to grow by at least 50% over the next several years.
Year to date, shares of this Zacks Rank #4 (Sell) company have declined 30%, underperforming the industry’s 29.5% decrease.
Stocks to Consider
Some better-ranked stocks from the same space are Dave & Buster's Entertainment, Inc. PLAY, Darden Restaurants, Inc. DRI and Starbucks Corporation SBUX, each carrying a Zacks Rank #2 (Buy). You can the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dave & Buster's Entertainment, Darden and Starbucks have an impressive long-term earnings growth rate of 14.8%, 10.1% and 12.8%, respectively.
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Darden Restaurants, Inc. (DRI) : Free Stock Analysis Report
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