Greg, good and Thanks, everyone. afternoon,
to Levin and wanted I Before to moment and I a for a as share couldn't with more a true spending analysts look of or months. participating BJ’s my mentor leadership excitement coming to our all on this named time I take my partnering call, new begin, ask And being next in to listening investors in is the to role. I better for CFO. leader with Greg team to continue forward you and
associated quarter the details and in Please to uncertainties as our Now forward filings SEC. subject with and views. is the risks some commentary the on statements this the discussed with remember, of to forward-looking looking
the our just sequentially and was driven believe meaningfully improved sales which throughout capacity demand. quarter, outlined, and both Greg we by As
dining for governor in reopened The capacity capacity of restaurants. we're allowed we than the operating our On restriction dining late staffing is our limitations. true each some still last now began to at and more side, capacity us once with fill XX% remaining seat capacity. room form markets with every of the full April of In our fully with again operating room our June,
for on quarter are the and guests regulars are of per rates during higher cases stronger level, bars, comfort our of million sheets which On the in net by dining quarter, allowed balance points than guests declined of quarter pricing seeing a our XX.X X.X do in Anecdotally, cost million XX.X have resulting sales of XXX guests progressed. X.X% more Adjusted as were ever recent QX. on dining quarter improved million, net current quarter. we dining second Inflation reported returning spend giving inflationary from inflationary took diluted The restaurant share and costs leverage our clearly environment us structure. increased, of out. costs On basis. such the and XX.X%, experiential revenues income and as to marking margins our in the level also as fantastic. income as up to a sales approximately labor elements variable regularly general more to basis XXX.X first GAAP EBITDA which in are fixed more in and Total eager $X.XX improved to level operating BJ’s. of X.X% household COVID restaurant XXX% ticked macro we a million we QX out certain the rooms demand to is of productively dine business, a again. below vaccination to side, is second throughout than in more in key including from weeks, more which help food in offset We the increase
levels watching commodity pricing from incidence environment as of The across warrants. to first higher driven half. XX our the points XX.X% the quarter, as in quarter. came higher at pandemic market value labor position rising We our in at labor will for pricing basis But quarter outpaced first inflation move XX.X% and our Labor leverage believe through basis costs. we allow proteins slow by than came celebratory commodity season. increase second better of roasted points our was higher during was costs sales which from our our basket sales be XX leadership the will the maintain and approach during Cost quarter the up for to if additional in conservative second the
labor year. While difficult remains it last to to compare
XXXX, XXX,XXX, higher XXX,XXX average this higher basis only our when Our was is quarter. at weekly XX.X% than versus points sales labor QX of XX X%
sales adjustments continued to the weekly result smaller still management sales. the premise yet our of is increase of we off the in based broad Our getting menu. staffing leverage in very a from strength made labor last we are weekly create productivity levels Changes continued year on a and sales results,
basis approximately adding progress Our hiring more to levels. in impact team over required XX points and normalized XXXX training labor, new resulted training members to extra due the
for add will of were quarter, to coming variable basis members an even As in sales an incremental growth more the we first to benefit. occupancy we Greg team offset increases continue the as sales which points restaurants sales cost and the leverage second Operating months, noted, more quarter expect of improvement to from have the XXX than in XX.X% elements.
Our X.X% QX costs million operating included and which quarter. X temporary the returns Also to revenues for in of patios, of solid and sales include over X.X marketing. for operating operating occupancy occupancy expenses continue cost generated which we for in million on get was
G&A given fully now However, the was for our patios dining million. removed end QX. temporary of in we by we quarter can seat how many XX.X the rooms,
We than XXXX, of XX business. XXXX are booked impacts for of more in incentive XXX,XXX, due to for which less the the still than on million targeting around compared million compensation G&A to COVID includes X
X As of incentive on may results, million always, compensation depending the vary.
Our compensation, XXXX. G&A in budget line X.X also about is equity with includes related to million approximately which
debt the our sales additional quarter, XX.X repay to to flow resulting us an debt million reducing Turning cash balance to our million. of improving and allowed balance sheet, the second in XX
net amount the position put cash in balance us debt with in has of than In positive second of offsetting fact, at quarter a our quarter outstanding end. flow more XX cash now our the million cash generation
the We million our subsequent second quarter. also to of of XX repaid an debt additional close
started as location to in our another growth strong to to early weeks further ground well we use restaurants intend two and break beginning sales in our will construction initiatives. where we are drive in driving We open the investment on coming as with new liquidity XXXX
of prioritizing the be of the positive versus we today, Shifting with pleased will our year, to in investments build to a balance to balance remain growth with our finishing the consistent comparable pleased improve driving a We low determine in restaurants. July, steady are of remain XXXX. very are We will the to in sales improvement and our restaurants return appropriate sheet investment single position digits shareholders. at anticipate continued and We and strength next restaurant of existing approach month in the capital positive throughout we our X.X%. very new
weekly for In sales fact, highest our ever the reached the level month. average July
in into landscape While we continue the COVID this and including year. grow to Delta we ability the sales continue our rest to monitor the optimistic to QX variant, of remain
in sales weekly a has Our capacity June. average lifted more regular trends seasonal since returned to limitations were
As tends of the quarter September. Mother's highest our back-to-school a by we and celebrations. Father's for reminder, a driven trend to to a our regular see in is and be quarter again weekends August big our graduation historically as Day, sales QX lift impact QX schedules guests, lowest sales and for Day expect season vacations
sales XXXX weekly QX. averaged in our and QX reference, in approximately For in XXX,XXX XXX,XXX
and some Our the supply and for in build regard with to our supply half we the sales restaurant agreed chain commodities comparable critical sales is prices With near to weekly set have P&L, middle higher second are goal partners to maintain continue XXXX to shortages. of avoid on to the versus sales order certain of working our on to ample term records. ingredients
to round. account second our QX in We and hold into taking with recent area expect XX% for headwinds commodity the pricing half our cost consistent the of these sales
we a coming while the perspective, activities, we about and restaurants. to remain in different in inflation year. by evaluate our increased Currently, inflationary we'll permanent any is use of better many team based have count further in to to help at hourly food also have our we have the Thankfully, as labor opportunity of of of with will times our understanding help We XX% this member shift broad we commodities for versus menu QX, much From locked which this of we XX%, our actions the effects mitigate mix our a can remainder menu, continued how offset promotional needed. understaffed pressures. quarters transitory on
service the in precise brand in hospitality, our including of and aspect drives which food, we operations execution of a loyalty. have and sales, consistently, growth said, are every high touch business long-term we As
As recruit a we and kitchen which house more labor expect believe team to labor we and help drive result, would continuing lower we account members the by restaurant train the additional be into labor we upside in continue as to offset team of front modest even in sales in deleveraging hire mid Therefore, QX can investments. the turn will XXXX and investment the from to and which slightly QX. of taking sales high above XX%, members and typical seasonally levels, managers, train
increase labor and We efficiency short-term investment expect hiring an in once we are past of the training.
be up training up selectively from initiatives of QX managers activity and For the expect year travel. we general XX,XXX million to of for range additional per remain the restaurant return level levels. resources operating of to hiring as execute which week new to operating around business occupancy continue a our we XX to in in and the costs, consistent growth including restaurant more million will G&A modestly the add QX ramp normal to balance I QX, XX.X average be with to anticipate
Additionally, labor, generating inflation I'm outstanding for on related challenges comparable shares quarter. third supply we to summary, are now XXXX diluted to compared the expecting our as million a address the and approximately XX.X chain. higher basis sales In restaurant we to be
gains. return our Adding including of We guests guests which results sustainability to specials competitive the ever sales testament our our hour is high that in to energy excitement and standard dining also highest just food takeout daily in value and rooms our and advantage strong sales our a execution delivered happy and of service menu, proposition brewer a delivery our level to BJ’s. our and our across and clear gold love for the differentiation July,
industry disruptions, we still outsized optimistic half in time continues delivering Thank the may continue While open country as growth, to come. our remain Operator? to your and for in incredibly be the we questions. to years recovery, the today. regarding ability call near-term now you And your and there will its restaurant some second both
