BJ’s Restaurants: 15 New Openings Next YearThursday, October 20, 2011
Huntington Beach-based restaurant operator BJ’s Restaurants Inc. has plans to open as many as 15 new restaurants next year.
The company has locations picked and is planning for more in 2013 and 2014, BJ’s Chief Executive Jerry Deitchle said in a statement.
“At the end of this year, we will only have 115 restaurants open in 13 states, and we believe there are many years of high quality, profitable expansion for the BJ's concept ahead of us,” Deitchle said.
The company’s restaurants operate under the BJ’s Restaurant & Brewery, BJ’s Restaurant & Brewhouse and BJ’s Pizza & Grill brands.
The growth forecast comes after the company reported a profit for the three months through September that missed Wall Street’s expectations.
BJ’s saw a profit of $6.4 million for the September quarter, up about 10% from a year earlier.
Analysts had expected $7 million.
BJ’s reported revenue of $151.4 million for the recently ended quarter, up 18% from a year earlier. Revenue topped the $149.8 million analysts had expected.
Sales at restaurants open at least a year rose 6.5%.
BJ’s didn’t provide profit or revenue guidance for the current quarter.
Wall Street analysts expect a profit of $9.1 million and revenue of $166.9 million for the current quarter.
Earlier this week, BJ's opened a restaurant at the Rancho Santa Margarita Town Center that came on the heels of another in Ohio.
Two more restaurants, including one at the Anaheim Hills Festival shopping center, are expected to open before Thanksgiving.