QUOTE AND NEWS
Motley Fool  Mar 8  Comment 
The brewpub is excited for its new sales-driving initiatives, but we've seen this menu before.
Motley Fool  Feb 24  Comment 
The casual-dining chain posted another decline in comparable sales, but EPS jumped, thanks to a lower tax rate and share buybacks.
Benzinga  Jan 5  Comment 
“Given our expectation for muted SSS growth trends and a declining marginal benefit from ongoing cost initiatives, we believe risk to stubbornly high consensus estimates remains,” Wedbush’s Nick Setyan said while downgrading the rating on...
Benzinga  Oct 21  Comment 
Earnings season for the restaurant sector is off to a rough start. BJ's Restaurants, Inc. (NASDAQ: BJRI) reported its third-quarter results earlier this week in which the restaurant chain's earnings per share and revenue fell short of what...
Benzinga  Oct 21  Comment 
Many retail executives are attributing their companies' poor performance to the U.S. election. Maybe it's a convenient scapegoat or maybe they are on to something, as the list of CEOs pointing toward the election to justify poor performance just...




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Founded in 1978 in Orange County, California, BJ's Restaurants owns and operates a chain of 68 high-end casual dining restaurants in the Western United States that serve its signature deep-dish pizzas, salads, sandwiches, burgers, pastas, steaks, baby back ribs, and its own hand-crafted beers. Each restaurant is either operated as a BJ s Restaurant & Brewery, which has a brewery in the restaurant, a BJ s Restaurant & Brewhouse, which receives beer from one of its breweries, a contract brewer of the company s proprietary recipes or a BJ s Pizza & Grill, a smaller format, full service restaurant. The broad menu offers a wide range of entr e prices ($8.50 to $19.95) with an average guest check of $12, and allows BJ's to appeal to a variety of guests, and dining occasions including everyday lunch and dinner, special occasions, and late night business.

The company's restaurants are located in California (39), Texas (11), Arizona (4), Oregon (3), Colorado (3), Nevada (2), Florida (3), Ohio (1), and Oklahoma (2). The company also has a licensing interest in a BJ's restaurant in Lahaina, Maui, Hawaii.

History

The first BJ's restaurant, called BJ Chicago Pizzeria was opened by two men in 1978, and specialized in Chicago-style deep-dish pizza. Over the next 13 years, the men opened four additional restaurants, and in 1991 they sold the company to its current joint CEOs and chairmen Paul Motenko and Jerry Hennessey, who changed the company s name to Chicago Pizza & Brewery. The new management slowly expanded the concept to reach all consumer demographics by broadening the menu and entering the microbrewery business in 1996.

That same year the company expanded geographically by acquiring 19 restaurants in Oregon and Washington from Pietros. The Pietros restaurants served primarily thin-crust pizza in a very casual counter-service environment. Unfortunately, the concept failed and over the next eight years BJ's closed 13 of the Pietros restaurants, sold three to employees and converted three to BJ's locations.

In 1996, the company made an IPO of 1.8 million shares at $5 per share, and 2.1 million warrants at $0.25 each, raising more than $9 million. In January 2005, BJ's hired Jerry Deitchle, formerly President (2002-2004) and CFO (1995-2002) at the Cheesecake Factory. In March 2005, the company announced the completion of a $42.6 million private placement of common stock with three large institutional investors. The transaction involved the sale of 2.75 million shares of common stock at a price of $15.50 per share.




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