BJ’s Restaurants, Inc. Provides Business Update

About this update from Bj's Restaurants, Inc.

[{"type":"text","content":"HUNTINGTON BEACH, Calif., June 11, 2020 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today is providing a business update to highlight its recent and ongoing progress recovering from the impact of COVID-19.\n The Company’s sales have continued to steadily improve with dining rooms re-opening and off-premise sales remaining elevated. As of today, the Company has re-opened dining rooms in 178 of its restaurants throughout 24 states. Additionally it has begun re-opening certain temporarily closed restaurants. The Company expects to have 208 restaurants operating this week, with dining rooms opened at more than 85% of the locations. Fiscal 2020 second quarter comparable restaurant sales through June 9, 2020 have declined approximately 64%, including the impact of full or partial closures due to recent demonstrations across the United States. For the week ended June 9, 2020, comparable restaurant sales were down 42.6% and average weekly sales were approximately $64,900, including the impact of 41 restaurants that were operating on limited hours or closed due to the nationwide demonstrations. For restaurants with re-opened dining rooms that were not impacted by curfews or closures, sales volumes during the week ended June 9, 2020, recovered to approximately 70% of comparable prior year levels with average weekly sales of approximately $75,000. Off-premise sales at these restaurants remain at more than 70% of levels before dining rooms began re-opening. At current sales levels and more dining rooms scheduled to re-open over the next few weeks, the Company will return to generating positive cash flow. “Early results from our re-opened dining rooms are encouraging, with double-digit weekly sequential sales increases over the last four weeks,” commented Greg Trojan, Chief Executive Officer. “Our guests are returning in increasing numbers to dine with us at BJ’s. We are seeing a strong appreciation for the safety measures and precautions we have implemented for them and our team members, including our new touchless digital menus and mobile pay options. As our dining rooms re-open, we continue to bring back furloughed team members and we look forward to bringing back even more as additional dining rooms open in the next several weeks.” About BJ’s Restaurants, Inc.BJ’s Restaurants, Inc. (“BJ’s”) is a national brand with brewhous...

More updates from Bj's Restaurants, Inc.