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BJ’s Restaurants reports Q4 EPS 17c, consensus 6c
The Fly

BJ’s Restaurants reports Q4 EPS 17c, consensus 6c

Reports Q revenue $344.15M , consensus $344.19M."Our focus on delivering gold standard service and gracious hospitality led to further improvements in top line sales, guest traffic and restaurant level operating margins during the fourth quarter," commented Greg Levin, Chief Executive Officer and President. "Despite ongoing inflationary pressures, fourth quarter restaurant margins improved year over year by 250 basis points to 12.1%, excluding the benefits from changes in gift card breakage estimates in 2022 and the Employee Retention Tax Credit in 2021. Our restaurant level margin growth was driven by higher sales, additional progress with our margin enhancement initiatives and, to a lesser extent, the extra operating week in fiscal 2022."Our top priorities for 2023 continue to be generating profitable sales growth and expanding our restaurant margins, which we intend to accomplish through a combination of sales-driving initiatives, additional menu pricing and the implementation of additional margin improvement initiatives," continued Levin. "We are encouraged by the strong sales trends and growth in our dining room guest traffic in fiscal 2023 to date, which are helping offset ongoing inflationary pressures on food, labor, utilities, and other restaurant costs. Based on current expectations, first quarter comparable restaurant sales should be in the high single-digits.

Published first on TheFly

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