BJ's Q2 2021 Earnings Report
Key Takeaways
BJ's Restaurants, Inc. reported improved sales throughout the second quarter of 2021 as capacity and social distancing limitations were lifted. Comparable restaurant sales improved during the quarter and continued into July. The company opened two new restaurants and plans to open eight to ten in fiscal year 2022.
Comparable restaurant sales were down approximately 6% compared to the same period in 2019.
Comparable restaurant sales improved from negative 7.6% in April and May to negative 3.8% in June as compared to 2019 levels.
Sales momentum continued into July with positive comparable restaurant sales of 1.6% compared to July 2019.
The Company successfully opened two new restaurants in the quarter in Merrillville, Indiana and Lansing, Michigan.
BJ's
BJ's
Forward Guidance
BJ's Restaurants, Inc. anticipates continued positive sales momentum in the second half of the year, absent any reinstatement of COVID restrictions. The company plans to open eight to ten restaurants in fiscal 2022.
Positive Outlook
- Positive sales momentum is expected to continue in the second half of the year.
- The company plans to open eight to ten restaurants in fiscal 2022.
- There is capacity for at least 425 BJ’s restaurants domestically.
- The company remains focused on executing its national expansion plan.
- The company is managing through the current industry challenges around labor, inflation and supply chain.
Challenges Ahead
- The company is managing through the current industry challenges around labor.
- The company is managing through the current industry challenges around inflation.
- The company is managing through the current industry challenges around supply chain.
- The company is facing COVID-19 pandemic related risks.
- The company is subject to potential uninsured losses and liabilities due to limitations on insurance coverage.