Huntington Beach-based BJ’s Restaurants Inc. (Nasdaq: BJRI) reported its highest quarterly sales ever with second-quarter revenue of $330 million, up 14% compared to a year ago.
These results beat analysts’ consensus estimates of $328 million in revenue and surpassed its 2019 record quarterly growth of 9.5%, according to Chief Executive Greg Levin.
“Our second quarter sales performance highlights the powerful guest affinity to the BJ’s brand and the success of our initiatives to rebuild restaurant staffing, as we hired more than 6,000 new team members and increased our team member count by 8% from the end of the first quarter, which enabled us to serve more guests,” Levin said in a statement.
Now counting 214 locations, the company plans to test multiple initiatives to battle the continuing inflationary environment in the coming months including a raise in menu prices in August.
With a current market cap of $544 million, shares of BJ’s Restaurants were little changed at $23.25 during after hours trading.