BJRI - BJ's Restaurants tops margins expectations sales improve sequentially

BJ's Restaurants (BJRI) reports comparable sales fell 30.2% in Q3 vs. -36.2% consensus. Adjusted EBITDA came in at $6.6M vs. $0.21M consensus. Restaurant margin was 9.5% of sales vs. 7.4% consensus. The Q3 loss includes a $1.9M pretax gain related to a sale-leaseback transaction and a $2.3M pretax gain related to a settlement with credit card providers pertaining to interchange fees and a settlement related to the repair of handheld tablets. Business update: "Early in Q3 we were operating with less than 70% of our restaurant dining rooms open and subject to indoor seating capacity limitations. In response, our teams quickly mobilized to build approximately 100 temporary outdoor patios to provide guests with a safe, comfortable and enjoyable dining experience. These new patios, combined with our continued take-out and delivery focus and certain dining rooms re-opening, helped drive weekly sequential sales increases throughout the quarter. Reflecting these initiatives, our weekly

For further details see:

BJ's Restaurants tops margins expectations, sales improve sequentially