BJ’s Restaurants Inc (NASDAQ:BJRI) Announces Date For Q4 Results
BJ’s Restaurants Inc (NASDAQ:BJRI) announced that the company is planning to release its fourth quarter and full-year 2013 results after the market closes on 19th February, 2014. The management of the company will host an investor conference call at 2:00 p.m. that day. The company would also host an analyst day on Thursday, 27th February, 2014, which will include presentations from operating and corporate management beginning at 8:30 a.m. All the interested parties and investors can listen to the broadcast by visiting the “investors” page on the website.
Unaudited fourth quarter 2013 results
For the fourth quarter fiscal 2013 which ended on 31st December, 2013, the management of the company are expecting to report revenues of approximately $199.8 million, which is an increase of approximately 8%, compared to $184.8 million for the same quarter the previous year. But the comparable restaurant sales decreased by 2.7% during the fourth quarter. This decline is due to decrease in the average guest check of 0.4% and estimated 2.3% reduction in the guest traffic.
The President and CEO of BJ’s Restaurants Inc, Greg Trojan commented on the expectations that, “there are many restaurant retailers and peers across a broad range of consumer business and the holiday season of 2013 has fell short of various forecasts and expectations.”
He also added, “The sales of BJ’s were within the expectations during the first part of this quarter and we managed to experience a significant softening in comparable restaurant sales which began in the middle of the month of November.”
The revenues announced by the company were below analyst expectations of $204.5 million. While earnings per share (EPS) for the quarter S is seen at $0.05-$0.07, as compared to consensus of $0.16.
Business updates of BJ’s Restaurants
When talking about the business updates, Trojan added, “We took extra time this year to digest the operational initiatives of the past and also identify the new opportunities in order to get a profitable future.”
BJ’s Restaurants Inc (NASDAQ:BJRI) shares fell drastically after the company announced preliminary Q4 results that missed expectations.