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Oct. 22, 2021, 8:47 a.m. EDT

BJ's Restaurants has cut items from its menu and limited dining room capacity due to staffing shortages

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By Tonya Garcia

BJ's Restaurants Inc. /zigman2/quotes/205505197/composite BJRI -2.64% Chief Executive Greg Levin said in a third-quarter earnings statement that staffing shortages have driven the company to shorten its menu, cut dining room capacity and cut hours in certain locations. "As a result, we finished the third quarter with comparable restaurant sales down 0.5%, compared to the same period in 2019," he said. "Looking forward, as our staffing levels improve, we expect sales to benefit as we seat more tables, expand back to pre-pandemic hours, and return all of our restaurants to full menus by early November." BJ's reported a net loss of $2.2 million, or 9 cents per share, after a loss of $6.6 million, or 30 cents per share, last year. Revenue of $282.2 million was up from $198.9 million last year. The FactSet consensus was for earnings of 8 cents per share and revenue of $292.3 million. Comparable restaurant sales grew 41.8%, below the 44.2% FactSet consensus. Comparable sales were down 0.5% compared with the the same period in 2019. BJ's plans to open eight restaurants in 2022. BJ's stock slipped 0.5% in Friday premarket trading, and is down 8.7% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.90% has gained 21.1% for the period.

US : U.S.: Nasdaq
$ 29.86
-0.81 -2.64%
Volume: 885,015
Nov. 30, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$714.72 million
Rev. per Employee
-88.27 -1.90%
Volume: 4.07B
Nov. 30, 2021 4:57p

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