Feb. 11, 2010
BJ's Restaurants Inc. has reported that comp sales and net income were down for the quarter slightly, but total revenues for the quarter and year stayed strong for the fourth quarter and fiscal year 2009 that ended on Dec. 29, 2009. In the release, chairman and CEO Jerry Deitchle attributed the company's fairly strong numbers as evidence of the concept's resonance. He expressed his confidence for BJ's to gain market share in the $80 billion casual dining segment, going forward.
"Our 2010 new restaurant development pipeline is in excellent shape as of today, and we are already working on potential locations for 2011 openings," said Deitchle. "Additionally, we will continue to make prudent investments in the 'core' of the BJ's concept to further strengthen its competitive advantages of quality, differentiation and value for the casual dining consumer."
Comparable restaurant sales decreased by 0.2 percent during the fourth quarter of fiscal 2009 compared to a decrease of 0.7 during the same quarter last year. Comps were down 0.8 percent for the year, compared with a 0.3 percent decrease for 2008.
Net income for the fourth quarter of fiscal 2009 was $1.7 million, down 25 percent from Q4 2008's $2.26 million. Year-to-date income was up 26 percent, from $10.3 million in 2008 to $13 million in 2009. Total revenues for the fourth quarter of fiscal 2009 increased approximately 13.5 percent to $112.6 million compared to $99.3 million for the same quarter last year. Year-to-date revenues rose 14 percent, from $374.1 million in 2008 to $426.7 million last year.