BJ’s Restaurants on Thursday reported another successful quarter, as same-store sales and traffic were up 8.1% and 8.3%, respectively.
It was the ninth consecutive quarter of growth by those metrics for the casual dining-chain, which raised full-year guidance to same-store sales growth of 4.7%, up from an estimated 3% to 4%. BJ’s also reported its eighth consecutive quarter of profit growth.
“We outperformed the Black Box casual dining national benchmarks on both sales and traffic, led by traffic outperformance of more than 800 basis points, with our outperformance extending across all geographic regions,” said BJ’s chief financial officer Todd Wilson on an earnings call. “Growth was broad based, with gains across every day of the week, daypart, and revenue center.”
CEO Lyle Tick pointed out that last quarter’s growth came in spite of a check decline of 0.2%. BJ’s has also increased average unit volumes over the past two years by about 10%, he said, to $6.7 million. Average unit profit is up about 24% in that period.
“Looking at the consumer, demand remains resilient as we continue to grow traffic while moderating check compression and driving interest in new and renovated menu items,” he said.
Those menu updates included a full pizza-platform overhaul late last year, as well as promotional versions of its signature Pizookie dessert.
“We’ve built the growth drivers over time,” Tick said. “First we built the value platform with the Pizookie Meal Deal. Then we unlocked the seasonal Pizookies, and that became a second layer of growth. … We’ve been refining and moving that strategy forward.”
To that end, on Thursday BJ’s also unveiled a new holiday menu, including the return of the Biscoff Pizookie with a new brown-butter base. The menu also features a Hawaiian Rib Eye, Truffle Mac & Cheese, Loaded Mashed Potatoes, and Truffle Fries.
“I feel great about the programs that we’re putting into the market,” Tick said. “… We’re growing traffic, we’re moderating check, and building a stronger business.”
