BJ’s Restaurants Inc. on Tuesday reported first quarter revenue rose 2.9% to $358 million, beating the general analyst consensus of $356.9 million for the period ended March 31.
The Huntington Beach-based casual dining chain said Q1 same-store sales increased 2.4%, driven by a 2.2% increase in guest traffic during the quarter.
“By executing against our four strategic priorities, we have significantly improved the business in the last 18 months, delivering consistent out-performance relative to industry benchmarks,” Chief Executive Lyle Tick said in a statement.
The day after the report, shares rose 4% to $39.82 apiece with a market cap of $837 million (Nasdaq: BJRI).
BJ’s Restaurants is Orange County’s fourth largest restaurant company, ranked by systemwide sales, following In-N-Out Burger, Chipotle Mexican Grill and Taco Bell.
Updated May 6