BJ’s Restaurants, Inc. (NASDAQ: BJRI) was fairly flat Friday morning, a day after the company reported financial results for its fiscal 2021 fourth quarter ended Tuesday, December 28, 2021.
Total revenues increased 47.8% in the fourth-quarter to $291.3 million
Total 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
“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 CEO Greg Levin.
“Our two-year comparable restaurant sales went from negative 1.4% in October to positive 1.8% in November as the operating environment stabilized.
Levin concluded, “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 of the year. This clearly highlights the affinity guests have for our concept and the sales levels our restaurants are capable of, even with limited staffing and reduced hours. “
BJRI gained 14 cents to $82.63.