Jan 16 Casual dining chain BJ's Restaurants Inc
estimated quarterly results below analysts'
expectations mainly due to weaker-than-expected sales, dragging
its shares down as much as 18 percent after the bell.
The company, which operates 146 restaurants under the BJ's
Restaurant & Brewery, BJ's Restaurant & Brewhouse, BJ's Pizza &
Grill and BJ's Grill chains, estimated revenue of about $199.8
million for the fourth quarter ended Dec. 31.
Analysts on average were expecting revenue of $204.5
million, according to Thomson Reuters I/B/E/S.
BJ's also said comparable restaurant sales fell about 2.7
percent in the quarter.
"... We experienced a significant softening in comparable
restaurant sales beginning in the middle of November and
continuing through the end of the year," Chief Executive Greg
Trojan said in a statement.
"In addition to the shortened holiday shopping season, our
comparable restaurant sales in Texas and the Ohio Valley were
impacted by severe weather during parts of December," he said.
BJ's said it expected earnings of 5-7 cents per share, below
the average analyst estimate of 16 cents per share.
The company's shares were down 13 percent in extended
trading. The stock closed at $30.52 on the Nasdaq on Thursday.
(Reporting by Maria Ajit Thomas in Bangalore; Editing by Kirti