BJ’s Restaurants Inc. (Nasdaq: BJRI) delivered better-than-expected results in its first quarter as the company’s restaurants see sales improve as restrictions on in-person dining lift.
The company said in its first quarter ended March 30 sales totaled $223.3 million, down 12.3% from a year-ago. Analysts on average expected sales of $205.1 million.
BJ’s recorded a net loss of $3.1 million, narrowed from a loss of $4.3 million in the year-ago period and beating consensus estimates of a $15.1 million loss.
The company said it expects to open a restaurant in Indiana and Michigan this year, while also reopening its Richmond, Va. Location in the second half of the year. Richmond is the only restaurant in the company’s chain that is still closed.
BJ’s totals 210 restaurants in 29 states with a long-term growth target of 425 locations in the U.S.
The company, with a recent market cap of $1.4 billion, was trading up 3.1% in after-hours trading Thursday.
