BJ’s Restaurants, Inc. Reports Fiscal Fourth Quarter and Fiscal 2021 Results

About this update from Bj's Restaurants, Inc.

[{"type":"text","content":"HUNTINGTON BEACH, Calif., Feb. 17, 2022 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today reported financial results for its fiscal 2021 fourth quarter and year ended Tuesday, December 28, 2021. Fourth Quarter 2021 Compared to Fourth Quarter 2020 Total revenues increased 47.8% to $291.3 millionTotal restaurant operating weeks increased 1.4%Comparable restaurant sales increased 45.6%Net loss of $4.7 million, compared to net loss of $18.1 million; diluted net loss per share of $0.20, compared to $0.81 Fourth quarter 2020 net loss included a $1.3 million pretax, or $0.05 per share, gain related to a sale-leaseback transaction and a $1.7 million pretax, or $0.06 per share, impairment charge for one restaurant Adjusted EBITDA of $13.7 million, compared to $2.4 million Fiscal 2021 Compared to Fiscal 2020 Total revenues increased 39.6% to $1.1 billionTotal restaurant operating weeks increased 1.3%Comparable restaurant sales increased 38.3%Net loss of $3.6 million, compared to net loss of $57.9 million; diluted net loss per share of $0.16, compared to $2.74 Fiscal year 2020 net loss included a $3.3 million pretax, or $0.11 per share, gain related to a sale-leaseback transaction, a $2.3 million pretax, or $0.08 per share, gain related to settlements pertaining to credit card interchange fees and handheld tablet maintenance, and a $13.7 million pretax, or $0.49 per share, impairment charge for five restaurants Adjusted EBITDA of $70.5 million, compared to $10.3 million “The strength of the BJ’s concept was evident throughout the quarter. We generated record fourth quarter revenue, even with ongoing labor constraints and the significant impact of the Omicron surge, which began in December,” commented Greg Levin, Chief Executive Officer and President. “Our two-year comparable restaurant sales went from negative 1.4% in October to positive 1.8% in November as the operating environment stabilized. In mid-December, as the casual dining industry began to experience Omicron-related headwinds, our two-year comparable restaurant sales trend turned negative and we ended December down 3.3%, which impacted our quarterly operating results. Despite the challenges, the passion and determination of our team members allowed BJ’s to generate average weekly sales of more than $125,000 the week before Christmas, which was our highest sales week...

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