BJ's Restaurants, Inc. reported a total revenue of $1.36 billion for the fiscal year ending December 31, 2024, marking a 1.8% increase from $1.33 billion in the previous year. The company's net income for the period was $16.7 million, a decrease from $19.7 million in fiscal 2023, resulting in diluted earnings per share of $0.70 compared to $0.82 in the prior year. The increase in revenue was primarily driven by a 1.2% rise in comparable restaurant sales, which was attributed to a higher average check size, despite a slight decline in customer traffic.
In terms of operational changes, BJ's opened three new restaurants during fiscal 2024 while closing one, bringing the total number of locations to 218 across 31 states. The company has also initiated a remodel program, completing renovations on approximately 70 older restaurants, with plans to continue this initiative in 2025. The average weekly sales per restaurant increased to approximately $120,000, up from $118,000 in the previous year, reflecting the company's focus on enhancing customer experience and operational efficiency.
BJ's Restaurants has also made strategic adjustments to its leadership team, with C. Bradford Richmond serving as Interim Chief Executive Officer since August 2024. The company has emphasized its commitment to operational excellence and customer service, which it believes will help capture additional market share in the competitive full-service restaurant industry. The company’s employee headcount stood at approximately 21,000 as of December 31, 2024, with a focus on maintaining a positive workplace culture and enhancing team member relations.
Looking ahead, BJ's Restaurants anticipates continued growth through both new restaurant openings and enhancements to existing locations. The company plans to invest between $65 million and $75 million in capital expenditures for fiscal 2025, which will include costs associated with new restaurant openings and remodels. The management remains cautious about inflationary pressures and their potential impact on operating costs, but they are optimistic about the company's ability to offset these challenges through menu price adjustments and improved operational efficiencies.
About BJs RESTAURANTS INC
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