BJ's Restaurants slides after surprise loss on higher costs

BJs Restaurants

01/11/2024 13:41

** Shares of BJ's Restaurants  BJRI.O  down 9.1% at $33.73 early
Fri after casual dining chain reported surprise loss
** Huntington Beach, California-based firm late Thurs  Q3 adj
loss/sh of 13 cents while analysts expected earnings of 2
cents/sh, per LSEG
    ** 
  
    ** 
    Interim CEO Brad Richmond said co did not fully leverage
strong traffic growth due to higher than anticipated restaurant
costs
  
    ** Restaurant level operating margin in qtr was 11.7%, down
from 11.9% in yr-ago period
  
    ** 
    Richmond said as demand continues for its offerings such as
the 
  
    
      
    
  
    
      
    
  
    
      
    
  
     

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))