BJ’s(BJRI)2025-05-05 20:00Revenue and Sales Performance - Total revenues increased by 348.0 million for the thirteen weeks ended April 1, 2025, compared to 5.7 million, driven by a guest traffic increase of approximately 2.7%, despite a 1.0% decrease in average check[79] Cost and Expense Management - Cost of sales increased by 86.8 million, with cost of sales as a percentage of revenues decreasing to 25.0% from 25.2%[80] - Labor and benefit costs rose by 125.7 million, with labor and benefit costs as a percentage of revenues decreasing to 36.1% from 37.1%[81] - Occupancy and operating expenses increased by 79.9 million, with occupancy and operating expenses as a percentage of revenues increasing to 23.0% from 22.8%[82] - General and administrative expenses decreased by 21.8 million, with general and administrative expenses as a percentage of revenues decreasing to 6.3% from 6.8%[84] - Depreciation and amortization increased by 18.3 million, remaining consistent at 5.3% of revenues[85] - Restaurant opening expenses decreased by 0.4 million due to the timing of openings[86] Profitability and Income - Net income for the thirteen weeks ended April 1, 2025, was 3.9%, compared to 2.3% for the same period in 2024[78] Capital Expenditures and Future Plans - The company expects to accelerate restaurant openings in 2026, with capital expenditures in 2025 dependent on the development of a robust pipeline for new locations[91] - Total capital expenditures for the thirteen weeks ended April 1, 2025, were 21.9 million in the same period in 2024[96] - The company plans to remodel up to 30 existing locations in fiscal 2025 and anticipates total capital expenditures of approximately 75 million for the fiscal year[96] Cash Flow and Financing Activities - Net cash provided by operating activities was 17.7 million from 16.6 million for the thirteen weeks ended April 1, 2025, a decrease of 21.9 million in the prior year[96] - Net cash provided by financing activities was 15.6 million from a net cash outflow of 215 million Credit Facility, with 0.6 million annual impact on net income[105] Operational Challenges and Strategies - Inflation has affected operations and new restaurant construction, with the company partially offsetting these costs through menu price increases and improved purchasing practices[99] - The company has successfully upgraded to a new Enterprise Resource Planning (ERP) system, which impacted accounts payable and operating cash flow[95] - The company does not participate in off-balance sheet arrangements and is not involved with unconsolidated entities as of April 1, 2025[98]