BJ's Q1 2023 Earnings Report
Key Takeaways
BJ's Restaurants reported a strong first quarter with improved restaurant margins and progress on sales and productivity initiatives. The company opened a new restaurant in Orland Park, Illinois, and is planning to remodel more than 30 restaurants this year.
Restaurant margins improved by 280 basis points to 12.6% year-over-year.
Opened a new restaurant in Orland Park, Illinois, and one in San Antonio, Texas early in the second quarter.
Plans to remodel more than 30 restaurants this year, or approximately 15% of the restaurant base.
Reiterated confidence in long-term potential to grow to at least 425 restaurants.
BJ's
BJ's
Forward Guidance
BJ's Restaurants plans to open five new restaurants in 2023 and remodel more than 30 restaurants, aiming for attractive financial returns and guest traffic gains.